Book&Claim first proposed a certificate trading chain of custody option at the very first official meeting of the globally recognised sustainable standard for palm oil - The Roundtable on Sustainable Palm Oil (RSPO) in November 2003.
The resulting programme - GreenPalm - has gone on to become the RSPO’s most successful approved supply chain system option, or as we refer to them, ‘chain of custody’, for the selling and buying of certified sustainable palm oil.
GreenPalm is a certificate-trading programme, operated by one of the leading chain of custody software providers Book&Claim. The programme enables palm oil users to offset their use of palm oil products by funding the production of an equivalent volume of oil by an RSPO certified producer.
The producer receives a premium for their certified palm oil, which then helps to encourage an increase in sustainable production at the farm level, helping to build a sustainable supply chain.
Unlike the physical RSPO approved chain of custody options:
- Identity Preserved
- Mass Balance
GreenPalm can be implemented without any changes to existing palm oil supply chains, and directly rewards producers for all the sustainable material they produce, wherever it is used or sold.
As such it is fully inclusive and enables producers, whatever their size and location in regards to earning a premium for producing palm oil sustainably.
Johnson & Johnson - sustainable palm oil
We developed the concept, designed, produced and securely hosted the cloud based chain of custody software covering the trading platform, back office application and public site. We operated the platform’s helpdesk and managed all financial transactions.
Book&Claim managed and promoted the chain of custody option and the sustainable standard globally, engaging with stakeholders from Retailers, Consumer Goods Manufacturers to NGO’s and Certifying Bodies.
In short, Book&Claim has developed and now provides a full chain of custody turn-key operation for the sustainable standard - The RSPO. In January 2016 we added traceability to our chain of custody software, meaning all certificates traded can be traced back to an individual palm oil mill. Here are some of the programme’s other key achievements from 2008 to March 2016.
- Palm oil certificates sold: 15 million
- Palm kernel certificates sold: 2 million
- Over 1100 members including manufacturers, retailers and RSPO certified growers
- Certified palm oil growers have earned over $110 million
- $17 million has been generated to support the work of the RSPO
- 62% of RSPO certified sustainable palm oil sold was traded via the GreenPalm market: 62% GreenPalm, 38% Segregated / Mass balance.
- Over 44,000 independent palm oil smallholder certificates sold
WWF - sustainable palm oil production
Crucially the GreenPalm programme provided a software chain of custody solution for a global sustainable standard which is fully inclusive, capable of benefiting even the smallest independent smallholder producers, wherever their output is consumed, equally suitable for every product manufacturer, big and small.