Africa: World Bank to reinvest in palm oil amid criticism

Early April saw the launch of the new World Bank Group strategy for engagement in the palm oil sector, which failed to resolve civil society concerns over several issues, including the rights of indigenous peoples and how performance standards will be applied across supply chains. The strategy outlines the conditions and standards under which the Bank will invest in the controversial palm oil sector, and brings to an end the moratorium on investments in palm oil announced by Bank president Robert Zoellick in September 2009. The original suspension followed years of pressure from civil society and indigenous peoples groups over the negative social and environmental impacts of palm oil plantations.