In a major move towards sustainability for one of the world’s largest purchasers of palm oil, Unilever on Tuesday announced that all of the palm oil it buys globally will be traceable to known sources by the end of 2014.
The company says it purchases roughly 1.5 million tons of palm oil and its derivatives annually, which represents about 3 percent of the world’s total production, for use in products such as margarine, ice cream, soap and shampoo.