Equatorial Palm Oil plc Human Rights Impact Assessment (7766V)
November 07 2017 - 4:00AM
UK Regulatory
TIDMPAL
RNS Number : 7766V
Equatorial Palm Oil plc
07 November 2017
7 November 2017
EQUATORIAL PALM OIL plc
("EPO" or the "Company")
Equatorial Palm Oil launches Human Rights Impact Assessment
Process
Assessing Potential Human Rights Impacts at EPO's Liberian
Operations
Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil
development and production company with operations in Liberia, West
Africa today publishes its inaugural report outlining its work on
human rights.
EPO is of the firm opinion that business can only flourish in
societies in which human rights are respected, upheld and advanced.
Companies have a responsibility to respect human rights as they
conduct their business. To meet its responsibility, EPO has engaged
in a human rights due diligence exercise to better understand where
the Company's risks lie, so that it can better proactively address
them. To this end, EPO has engaged business and human rights expert
Anna Triponel to conduct a Human Rights Impact Assessment ("HRIA")
as an initial step in its work implementing the UN Guiding
Principles on Business and Human Rights (the "Guiding
Principles").
EPO is pleased to publicly release the Executive Summary of its
HRIA report, which can be found at:
http://www.epoil.co.uk/corporate-documents.aspx
Through this process, EPO identified the salient areas on which
it should focus as a priority to ensure it respects human rights at
its operations. The areas of high priority include contractor wages
and employment status, accidents on the plantations, the impact of
use of land on communities, employee housing conditions, the health
and wellbeing of the Company's executives, and exercising the right
to freedom of association. These are the impact areas that the
Company is dedicating the most resources to addressing and
strengthening through a range of actions.
EPO, through its senior management in Liberia and its employees,
is working to address the action points raised in the HRIA and to
strengthen engagement with the Company's potentially impacted
stakeholders. The Company is committed to the ongoing human rights
due diligence process and to striving to adhere to best practice in
respect of the Company's operations, which will continue and
develop through the life of the Company.
EPO's Executive Director, Geoffrey Brown commented:
"EPO is committed to respecting internationally recognised human
rights throughout our operations, and we use the Guiding Principles
to help us assess and strengthen the relevant policies and
processes to put in place.
"The HRIA has been a unique and valuable exercise to provide a
clear focus on aspects of our operations that impact human
rights.
"EPO has a long-term commitment to Liberia and its people, and
the hard work and effort that has gone into the HRIA is to benefit
those people most closely affected by our operations."
- END -
For further information, please visit www.epoil.co.uk or
contact:
Equatorial Palm Oil plc +44 (0) 20 7016
Geoffrey Brown (Executive Director) 9885
Strand Hanson Limited (Nominated
Adviser) +44 (0) 20 7409
James Harris / James Bellman 3494
Mirabaud Securities LLP (Broker) +44 (0) 20 7484
Peter Krens 3510
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
Notes to editors:
Equatorial Palm Oil plc is an AIM listed crude palm oil
developer and producer with oil palm estates in Liberia, West
Africa. The Company was founded in 2005 and is focused on becoming
a global, sustainable producer of high quality palm oil to regional
and international markets.
With a significant land position in Liberia through its
operating subsidiary Liberian Palm Developments Limited (LPD), the
Company is geographically well positioned to serve the
international and regional markets and is committed to making a
positive impact on the communities in which it operates through
investment in local schools, health clinics, housing and
infrastructure.
The Company's largest shareholder in EPO and 50:50 joint venture
partner in LPD is Kuala Lumpur Kepong Berhad ("KLK"). KLK is one of
the largest palm oil producers in the world and the Company will
greatly benefit from their many years of expertise in oil palm
development.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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