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Daily Express
an hour ago
- Business
- Daily Express
Net zero more than renewable energy
Published on: Wednesday, July 23, 2025 Published on: Wed, Jul 23, 2025 By: Sisca Humphrey Text Size: Dr Tan framed the company's climate strategy around two pillars, which are adaptation and mitigation. Kota Kinabalu: Net zero is not just about renewable energy, but it is about a systemic transformation that reshapes supply chains, product design, social commitments and innovation, said Head of Group Transformation at FGV Holdings Berhad Dr Gideon Tan. Speaking at the Marim Conference 2025 in here, recently, Dr Tan said the company's climate action efforts extend far beyond emissions and energy. 'Net zero is not just solar panels or certificates, it's a whole-of-organisation agenda,' he said. To contextualise FGV's sustainability journey, he said the company's complex business divisions, ranging from plantations and downstream processing to logistics, healthcare and even education. He noted that 74 per cent of FGV's palm oil crops come from smallholders, mirroring Asia's broader food system, which heavily depends on them. 'We're not just operating commercial estates. We run clinics and have built 17 schools for the children of migrant workers,' he said. Dr Tan framed the company's climate strategy around two pillars, which are adaptation and mitigation. 'Managing the effects of climate change is adaptation. Tackling the causes is mitigation. We need to do both,' he said. On adaptation, FGV is addressing climate extremes such as flooding and droughts while responding to global policies like the EU Deforestation Regulation (EUDR). Unable to expand land use due to deforestation restrictions, the group has focused on increasing yields per hectare. 'We no longer have the option to expand land. Yield improvement is the only way forward,' he said, citing their 56-year-old R&D centre that develops higher-yield planting materials. FGV has also deployed technologies like the FGV Geodagger, a satellite-linked device for precision replanting. Turning to mitigation, he emphasised the importance of understanding company emissions through inventory baselining, a process recently validated under the SBTi (Science-Based Targets initiative). The group's mitigation roadmap includes energy efficiency, solar power, bioenergy and transportation reforms. 'Our plantations operate in areas without public utilities. We build our own water, wastewater and energy systems,' he said. On energy efficiency, FGV performs audits across its supply chain and encourages internal innovation. One in-house invention is an electric transporter to replace petrol units for field operations. 'We want our employees to be innovators and our electric transporter was built in-house,' Dr Tan said. FGV's solar strategy leverages Malaysia's NETR framework and includes various ownership and feed-in tariff models. However, it's in bioenergy that the company sees significant potential. FGV operates biogas plants capturing methane emissions from mill effluent ponds, which is a major source of GHG. 'We capture methane before it reaches the atmosphere, one tonne of methane is equivalent to 28 tonnes of CO₂,' he said. It also operates two biomass power plants, including one in Sabah's off-grid areas and is exploring diverse applications for palm biomass, ranging from compost to aviation fuel. 'Palm oil uses only 0.5 per cent of the world's agricultural land, yet produces over a third of global vegetable oil supply,' he said, highlighting the efficiency of palm oil in the global food system. FGV also turns biomass into animal feed using black soldier fly larvae in what he calls a 'bio-refinery without a factory'. 'We turn waste into protein with black soldier fly larvae. It's a bio-refinery without a factory,' he said. As for transportation, FGV is replacing petrol-based field vehicles with EV models and trialling B100 biodiesel in logistics trucks and passenger vehicles. Dr Tan reiterated that net zero should not be reduced to a single target or technology. 'Net zero is not a slogan. It's a systemic shift in how we operate across supply chains, products and people,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Belfast Telegraph
a day ago
- Business
- Belfast Telegraph
The £5 latte cannot be far away: hedge funds and iced drinks are driving change in the coffee market
Prices have fallen back a little in recent months — but right now, the green coffee beans that are the basic raw material for your flat white are 47% more expensive than they were a year ago, says Sheila Dowling, commercial director at Bewley's, the Republic of Ireland's best-known bean roaster. That means Bewley's is paying €1.7m (£1.5m) more this year for its usual order of green beans — and coffee consumers have been hit with price rises of as much as 30% a cup. The nightmare scenario for everyone in the sector is to see the price of a cup of coffee rise above €5 (£4.30) — a level that would be hard for consumers to swallow and businesses to sustain, says Ms Dowling. But when, earlier this year, the price of beans on the market rose towards $5 (£3.70) a pound, that looked set to become a reality. 'Coffee was always around $1.20 a pound, maybe $1.40. But after Covid, things really started to change. We had Ukraine. Then we had the Suez Canal, then the Red Sea. It was the perfect storm — and by February of this year, it had risen to over $4.20.' Earlier this month it was reported that the boss of coffee giant Lavazza blamed hedge fund speculation for the volatility. Ms Dowling agrees, but believes that a huge amount of supply that has been bought by speculators will at some point be released into the market and help moderate the price. But the EU's new Deforestation Regulation (EUDR), which comes into force in January and aims to curb deforestation linked to the production of commodities such as coffee, could push prices back up. In recent months, the price of coffee has fallen slowly, and by last week it was back at $3 a pound. 'But when you think of the weeks ahead, with Trump and tariffs and exchange rates, you just don't know where it's going to go,' she says. Despite the price of coffee soaring to global highs this year, Ms Dowling suggests coffee may be an affordable luxury for younger people. 'Where people have disposable income is in colleges and universities — they are more likely to spend income than save for a rainy day.' And that generation, she says, is driving another massive sea-change — the cold brew. Coffee lovers under 35 are driving an explosion of iced beverages, a new report by UK-based coffee syrup manufacturer Beyond the Bean has found. Iced beverage consumption in the UK has surged by 26.7% since 2023, driven mainly by millennial/Gen Z consumers. 'There is speculation that younger people will eventually revert to hot coffee, but I don't think that will be the case. If we look at sales data on Starbucks in the US, 80% of their coffee is now served cold.' The trend could have big implications, both for coffee shops and for producers such as Bewley's. Cold brew is produced differently than traditional coffee and is supplied as a concentrate. To meet the expected demand for cold brew here, Bewley's has spent 18 months sourcing a cold brew product to bring to the Irish coffee market. The Bewley's Columbian Fairtrade Cold Brew process involves coffee grounds being slowly steeped in cool water, which extracts a less acidic flavour from the bean, says Ms Dowling. 'It's moving fast from a low base, and 50% of Gen Z are now saying they will drink cold all year round,' she says. 'We're working with a partner right now, but it is our ambition to invest in our own business to produce a cold brew. But it's a very different process and it'd be like setting up a whole new factory.'
New Straits Times
a day ago
- Business
- New Straits Times
Malaysia moves to secure low-risk status under EU deforestation rules
KUALA LUMPUR: Malaysia is rolling out coordinated strategies to secure its status as a low-risk country under the EU's deforestation rules, with efforts spanning forest monitoring, regulatory compliance, and sustainable land management. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said one of the key strategies is coordinating the implementation of the EU Deforestation Regulation (EUDR) across multiple ministries and agencies. These include forest data management, enforcement and sustainable forest governance, he said. The European Union will by June 30 unveil the much anticipated "country benchmarking system" under the EUDR. It will divide countries into one of three tiers: "low", "standard" or "high" risk, with escalating due diligence and compliance obligations aimed at minimising EU's contributions to global deforestation and forest degradation. It requires seven commodities and their derivatives — cattle, cocoa, coffee, palm oil, rubber, soyabean and wood — entering the EU market to be deforestation-free, legally produced and covered by a due diligence statement. Johari (BN–Titiwangsa) said that his ministry is also working to ensure that Malaysia's agri-commodity products exported to the EU meet EUDR requirements through the adoption of sustainable certification schemes such as the Malaysian Sustainable Palm Oil Certification Scheme, the Malaysian Timber Certification Scheme, and the Malaysian Sustainable Natural Rubber Guidelines. "Relevant issues that may affect the accuracy of Malaysia's latest forest data submitted for the Global Forest Resources Assessment report to the Food and Agriculture Organisation, which is used in the EUDR risk classification process, are also discussed," he said in a written parliamentary reply. Johari also said recommendations would be submitted to the government regarding compliance measures that need to be implemented by the relevant ministries and agencies. "These strategies reflect our proactive efforts to ensure Malaysia is classified as a low-risk country and demonstrate the Ministry's commitment to keeping the country's agri-commodity products competitive in the EU market," he said. He was responding to Datuk Willie Mongin (GPS–Puncak Borneo), who had asked about the country's response to the EUDR framework and the ministry's strategies to ensure Malaysia achieves low-risk status. Last month, the government formed a Special Committee to spearhead the country's response to the EUDR, aiming to ensure continued access to the EU market and strengthen sustainability compliance across key export sectors. Chaired by Johari, the committee involves three key ministries, including the Plantation and Commodities Ministry, the Natural Resources and Environmental Sustainability Ministry, as well as the Investment, Trade and Industry Ministry. Their respective secretaries general will co-chair the working committee. The committee will also act as the central channel for Malaysia's engagement with the European Commission, including the submission of official datasets, policy updates and participation in technical exchanges.
Associated Press
2 days ago
- Business
- Associated Press
EUDR Solution From Source Intelligence Simplifies Deforestation Due Diligence
The SaaS platform streamlines risk assessment, data collection, and submissions for companies navigating EUDR compliance SAN DIEGO, CALIFORNIA / ACCESS Newswire / July 21, 2025 / Source Intelligence has launched its EUDR solution to help companies simplify deforestation risk management and automate compliance workflows ahead of upcoming enforcement deadlines. Purpose-built for the European Union Deforestation Regulation (EUDR), the SaaS-based solution enables businesses to streamline supply chain traceability, risk assessment, and due diligence reporting. As companies prepare for the regulation's requirements, failure to comply could result in fines of up to 4% of annual turnover, making early action Intelligence Logo Source Intelligence's logo and 'Trust your source' tagline Source Intelligence's solution enables companies to implement an end-to-end EUDR due diligence workflow, from tracing product origins and validating supplier data to identifying deforestation risk and submitting due diligence statements. A direct integration with the EU TRACES platform allows Source Intelligence to submit statements on behalf of clients as an authorized representative, helping companies streamline final reporting requirements. With Source Intelligence's EUDR solution, companies can: The platform's satellite-powered deforestation detection tools assess land use change with precision and provide actionable insights for risk mitigation. These capabilities are bolstered by real-time data validation, customizable risk assessments, and centralized documentation-all designed to help companies operationalize the three-step due diligence process outlined by the European Commission. 'The EUDR requires companies to reach deeper into their supply chains, gather more specific data, and act on risk with greater speed,' said Mike Flynn, Chief Product Officer at Source Intelligence. 'Our solution is designed to make that process manageable-combining automation, advanced risk screening, and satellite monitoring to help businesses take control of their due diligence obligations before enforcement begins.' While the EUDR is already in force, operators and traders must fully implement the required due diligence process by December 30, 2025. Micro and small enterprises have until June 30, 2026. With deadlines fast approaching, Source Intelligence offers a streamlined path to readiness. Interested organizations are invited to schedule a demo and experience the advanced EUDR solution firsthand. About Source Intelligence Source Intelligence is the leading provider of AI-driven supply chain compliance and sustainability software. Built for mid-market and enterprise manufacturers, our configurable SaaS platform centralizes supply chain data, automates regulatory workflows, and scales with program maturity. Our software blends AI and in-house expert oversight to deliver efficiency without compromising accuracy. From product compliance and EPR to conflict minerals and component obsolescence, we help global compliance teams reduce risk, improve visibility, and meet evolving obligations with confidence. Learn more at Contact Information Amanda Lindberg Director of Marketing [email protected] SOURCE: Source Intelligence press release
Irish Independent
3 days ago
- Business
- Irish Independent
The €5 latte cannot be far away: hedge funds and iced drinks are driving change in the coffee market
The wholesale price of coffee rose 47pc in a year – is nothing sacred? Fearghal O'Connor With hedge funds driving volatile coffee bean markets to record highs in recent months and a growing taste for cold coffee brews amongst young people, the coffee sector is facing big changes. Prices have fallen back a little in recent months – but right now, the green coffee beans that are the basic raw material for your flat white are 47pc more expensive than they were a year ago, says Sheila Dowling, commercial director at Bewley's, the country's best known bean roaster. That means Bewley's is paying €1.7m more this year for its usual order of green beans – and coffee consumers have been hit with price rises of as much as 30pc a cup. The nightmare scenario for everyone in the sector is to see the price of a cup of coffee rise above €5 – a level that would be hard for consumers to swallow and businesses to sustain, says Dowling. But when, earlier this year, the price of beans on the market rose towards $5 a pound that looked set to become a reality. 'Coffee was always around $1.20 a pound, maybe $1.40. But after Covid things really started to change. We had Ukraine. Then we had the Suez Canal, then the Red Sea. It was the perfect storm – and by February of this year it had risen to over $4.20.' Last week it was reported that the boss of coffee giant Lavazza blamed hedge fund speculation for the volatility. Dowling agrees, but believes that a huge amount of supply that has been bought by speculators will at some point be released into the market and help moderate the price. But the EU's new Deforestation Regulation (EUDR), which comes into force in January and aims to curb deforestation linked to the production of commodities such as coffee, could push prices back up. In recent months the price of coffee has fallen slowly, and by last week it was back at $3 a pound. 'But when you think of the weeks ahead, with Trump and tariffs and exchange rates, you just don't know where it's going to go,' she says. ADVERTISEMENT Despite the price of coffee soaring to global highs this year, Dowling suggests coffee may be an affordable luxury for younger people. 'Where people have disposable income is in colleges and universities – they are more likely to spend income than save for a rainy day.' And that generation, she says, is driving another massive sea-change – the cold brew. Coffee lovers under 35 are driving an explosion of iced beverages, a new report by UK-based coffee syrup manufacturer Beyond the Bean has found. Iced beverage consumption in the UK has surged by 26.7pc since 2023, driven mainly by millennial/Gen Z consumers. 'There is speculation that younger people will eventually revert to hot coffee, but I don't think that will be the case. If we look at sales data on Starbucks in the US, 80pc of their coffee is now served cold.' The trend could have big implications, both for coffee shops and for producers such as Bewley's. Cold brew is produced differently than traditional coffee and is supplied as a concentrate. To meet the expected demand for cold brew here, Bewley's has spent 18 months sourcing a cold brew product to bring to the Irish coffee market. The Bewley's Columbian Fairtrade Cold Brew process involves coffee grounds being slowly steeped in cool water, which extracts a less acidic flavour from the bean, says Dowling. 'It's moving fast from a low base, and 50pc of Gen Z are now saying they will drink cold all year round,' she says. 'We're working with a partner right now but it is our ambition to invest in our own business to produce a cold brew. But it's a very different process and it'd be like setting up a whole new factory.'
