BMW joins sustainable natural rubber platform | DZHI - DZH International 
logo

BMW joins sustainable natural rubber platform

  • i2Matrix
  • 14 June 2019
MUNICH, Germany — German car maker BMW A.G. has joined the Global Platform for Sustainable Natural Rubber (GPSNR), a coalition of stakeholders from across the natural rubber value-chain, including many major tire makers. 
 
The move is a "rather logical approach," considering the amount of rubber used in the automotive industry, the Munich-based company said. 
 
"BMW needs around 24,000 (metric) tons of rubber a year for tires alone," the company said, noting this move links to its efforts to combat climate change. 
 
In a statement about joining the sustainability effort, BMW said in most cases natural rubber (NR) cultivation takes place in monocultures in Southeast Asia, across an area spanning nearly 20 million acres of land, with more than 80% grown on small farms, making it difficult to monitor social and environmental growing conditions.  
 
"We have to avoid the production environment for natural rubber becoming like that for palm oil, which can lead to difficult, non-transparent social and ecological conditions in the regions concerned," Vanessa Buchberger, responsible for sustainable purchasing at BMW, said. 
 
Although BMW only purchases NR indirectly, via its tire maker suppliers, it said "transparency and sustainability throughout the value chain are part of the company's philosophy." 
 
Launched in March at a gathering of stakeholders in Singapore, the GPSNR aims to address issues such as conditions for rubber farmers, deforestation and land-grabbing, while working to ensure responsible sourcing of natural rubber. 
 
All GPSNR founding members have committed to improve social and environmental conditions for cultivation and urge their business partners toward more sustainability, BMW noted. 
 
BMW joins Ford Motor Co. and General Motors Co. as vehicle makers to join the GPSNR and pledge to adhere to its principles. 
 
 
-- ERJ 
 

 

 


 

For more Rubber and Crude Palm Oil reports that includes twice daily prices & other news reports, you can purchase the subscription here.

 

 

 

THE PEOPLE

Benny Lee

Founder of i2Matrix. A market strategist, private trader and sought-after financial speaker and trainer in the Asian Region, Benny Lee has coached hundreds of professional and retails traders and investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam, Pakistan for more than 13 years. His passion in trading and chart analysis leads him to develop trading strategies that have helped him and many others to trade and invest successfully in the financial markets.

Benny Lee is recognized by the Malaysian and Singapore Stock Exchange as a Credible Trainer. He has also trained professionals in Malaysia under Securities Commission’s Continuous Professional Education (CPE) Program. He is also a market strategist Jupiter Securities Sdn Bhd, a Malaysian stock-broking firm.

Benny has been invited to share his expert opinion in major commodities and financial events in Malaysia, Singapore, India, Indonesia, Vietnam, Thailand, and Romania. His analysis on the financial markets can also be found on a regular basis in leading financial magazines like Smart Investor, Shares Investment Magazine and The Edge Daily in Malaysia, and Pulses Magazine in Singapore. He has also appeared on TV Financial Programs such as Capital TV (Malaysia), Channel News Asia (Singapore) and Sunbiz (Pakistan) to share his views about the markets and technical analysis.

Today, you can find his market comments regularly on The Financial Edge Daily (Wednesdays), Interview on BFM89.9 (www.bfm.my) business radio station on Mondays at 9.00 am, The Busy Weekly, a Chinese business weekly and Palm Oil Fortune (A monthly magazine by the Malaysian Palm Oil Council, MPOC). His views are also regularly quoted on Bloomberg.

For more information, you can visit them at http://www.i2matrix.com