Reported about 1 year ago
Johor Plantations Group Bhd. is set to utilize the 735 million ringgit ($156 million) from its initial public offering to establish a palm oil venture powered by clean energy, aiming to comply with stringent regulations in key markets like Europe. The mid-sized producer plans to reduce its carbon footprint by half next year and appeal to European consumers with its sustainable and short supply chain. The company's successful IPO marks a significant move towards accelerating their net zero plans and meeting evolving environmental requirements, such as the European Union Deforestation Regulation set to take effect by year-end.
Source: YAHOO