SINGAPORE, March 7, 2022 /PRNewswire/ -- Singapore-based Jatropha JOil Singapore Pte Limited (JOil) has become the first corporate to be awarded the world-class sustainability certification Gold Standard for its Jatropha plantation in Ghana. Its Jatropha trees produce fruits that are a non-food, low carbon footprint source material for a variety of eco-friendly industrial applications, including biofuel.
A best-in-class certification globally for climate and development projects, the prestigious Gold Standard certification has been awarded to JOil's Jatropha plantations in Bono East Province, Ghana, as afforestation, reforestation and re-desertification (ARR) project, the first corporate to achieve this, since the certification was established in 2003 by WWF and other international NGOs as a best practice standard for sustainable development.
A joint venture between Temasek Holdings Limited, Tata International and Skyland Holdings, JOil is a pioneer in developing a sustainable Jatropha value chain. It uses a technology-led approach in planting variety research and downstream application technologies for industrial uses such as bio-resins, bio-plastics, bio-candles, to name a few.
As part of upstream development, JOil will directly plant about 6,000 hectares (ha) of Jatropha and establish about 14,000 ha of Jatropha Plantation through an estimated 14,000 small holder outgrowers. This is expected to create agricultural employment opportunities for an estimated 1,500 people, especially women. JOil plans to certify all the plantations under Gold Standard or other appropriate carbon certification standards.
Mr Sunny Verghese, Chairman of the Board of JOil, said, "As a sustainable, low carbon emissions non-food crop, Jatropha represents a more climate positive, nature positive and livelihood positive alternative raw material for a variety of non-food applications. Every part of the Jatropha fruit can be used productively, for example, Jatropha bio-resin can replace urea formaldehyde used in the wood industry which is environmentally more harmful; the meal from the fruit can be used as an organic fertiliser; fruit shells can have application in bio-plastic; and crude Jatropha Oil from the nut can be a source for various applications including biofuel."
"JOil's Jatropha plantations contribute to meeting UN SDGs 8, 13 and 15. Being verified by internationally renowned institutions such as Gold Standard puts JOil at the forefront of sustainability innovators. This certification will enable JOil to generate high quality carbon credits and help us put back more than what we have taken out from the planet."
Mr Vasanth Subramanian, Chief Executive Officer of JOil, said, "Gold Standard certification is a major milestone for JOil as a Singapore company. It recognises our position as a leader in pioneering a sustainable Jatropha supply chain product and contributing to the rapidly growing global bio economy."
"This certification allows us to maximise positive impact and continue to add value for people and the planet while we generate returns for our shareholders. Moving forward, we will also work to obtain ISCC and appropriate carbon certifications for all future developments."
Gold Standard is ISEAL Code Compliant and is independently evaluated against ISEAL's Codes of Good Practice – a globally-recognised framework for effective, credible sustainability systems. Gold Standard-certified projects undergo a stringent assessment and must have the following:
About JOil
JOil is a Singapore-based joint venture company by Temasek Holdings Limited., Singapore, Tata Chemicals Ltd., India and, Wuthelam Holdings Pte. Ltd., Singapore. JOil is a pioneer in Jatropha.
JOil aims to create a sustainable Jatropha value chain by leveraging R&D capabilities through elite planting materials to establish sustainable and carbon positive Jatropha plantations as a non-food source of feedstock for industrial applications of high value through proprietary technologies, thereby maximizing economic returns to its shareholders while conducting business in an ethical manner & positively impacting environment and communities
