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  • Latest update: March 2021
  • Next scheduled: March 2022

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  • Landbank
    109,248 hectares
  • Market cap:
    462,550,000 USD
  • Thomson Reuters ticker:
    HALC.SI
  • Bloomberg ticker:
    HACL:SP
  • ISIN:
    SG2F48989824
  • Website:

Company assessment: Halcyon Agri – March 2021

Assessment date:

Score by disclosure type:

Total: 77.7% 92.5 / 119
  • Organisation: 22 / 28 78.6%
  • Policy: 45.5 / 51 89.2%
  • Practice: 25 / 40 62.5%
  • Self-reported: 15.8 / 40 39.4%
  • External: 9.3 / 40 23.1%
  • Sustainability policy and leadership Sustainability policy and leadership
    8.5 / 10 85%
    • Organisation: 4.5 / 5 90%
    • Policy: 2 / 2 100%
    • Practice: 2 / 3 66.7%
    • Self-reported: 1 / 3 33.3%
    • External: 1 / 3 33.3%
    • Y
      1 / 1

      1. Sustainable natural rubber policy or commitment for all its operations?

      The company has a sustainable natural rubber policy.

    • Y
      1 / 1

      2. Sustainable natural rubber policy or commitment applies to all suppliers excluding smallholders?

      The company's policy applies to all business partners.

    • Y
      1 / 1

      3. High-level position of responsibility for sustainability?

      The company states that the CEO "plays an instrumental role in the sustainable development" of the business.

    • Y
      1 / 1

      4. One or more members within the board of the company have responsibility for sustainability?

      The whole Board bears responsibility for sustainability.

    • Y
      1 / 1

      5. Percentage or number of women in senior management team?

      9% - The company reports the percentage of women in the senior management team.

    • P
      0.5 / 1

      6. Percentage or number of women board members?

      0 (0%) - The company does not explicitly report the number of women board members. When directors are mentioned they are referred to with male pronouns.

    • Y
      1 / 1

      7. Member of multiple industry schemes or other external initiatives to reduce negative environmental or social outcomes associated with natural rubber production?

      SNR-i, UNGC.

    • Y
      1 / 1

      8. Collaboration with stakeholders to reduce negative environmental or social outcomes associated with natural rubber production?

      The company is working with GIZ training smallholders on sustainable natural rubber production in Indonesia, and with Fondation la Rentree du Coeur in Cote d'Ivoire supporting local communities.

    • Y
      1 / 1

      9. Sustainability report published within last two years?

      Sustainability Report 2019.

    • N
      0 / 1

      10. Climate risks assessment available?

  • Landbank, maps and traceability Landbank, maps and traceability
    8.5 / 10 85%
    • Organisation: 7.5 / 9 83.3%
    • Policy: 1 / 1 100%
    • Practice: 0 / 0 0%
    • Self-reported: 0 / 0 0%
    • External: 0 / 0 0%
    • Y
      1 / 1

      11. Lists countries and operations?

      Malaysia, Cameroon, Cote d'Ivoire (production and processing). Indonesia, Thailand, China (processing only).

    • Y
      1 / 1

      12. Total land area managed/controlled for natural rubber (ha)?

      109,248 - The figure is the sum of landbank for Cameroon (97,824 ha), Malaysia (9,844 ha), and Cote d'Ivoire (1,580 ha) reported for the year 2021.

    • Y
      1 / 1

      13. Total natural rubber planted area (ha)?

      37,759 - The figure is the sum of landbank for Cameroon (31,358 ha), Malaysia (5,061 ha), and Cote d'Ivoire (1,340 ha) reported for the year 2021.

    • 14. Scheme smallholders/outgrowers planted area (ha)?

      This indicator is disabled as the company reports that it does not source from scheme/outgrower smallholder suppliers.

    • Y
      1 / 1

      15. Unplanted area (areas designated for future planting) (ha)?

      0 - Figure from 2021.

    • Y
      1 / 1

      16. Conservation set-aside area, including HCV area (ha)?

      42,069 - Figure is a sum of conservation areas from Cameroon (39,773 ha), Malaysia (2,216 ha) and Cote d'Ivoire (80 ha).

    • P
      0.5 / 1

      17. Maps of estates/management units?

      The company provides static maps of most of its estates.

    • N
      0 / 1

      18. Management plans for natural rubber production are available for all estates/management units?

    • Y
      1 / 1

      19. Number of company owned natural rubber processing facilities?

      36 - The company operates 36 factories.

    • Y
      1 / 1

      20. Names and coordinates of company owned natural rubber processing facilities?

      The company has published names and coordinates for all processing facilities.

    • Y
      1 / 1

      21. Commitment to traceability of the whole supply chain?

      The company provides a commitment to traceability of the whole supply chain.

  • Certification standards/Sustainability initiatives Certification standards/Sustainability initiatives
    3.75 / 5 75%
    • Organisation: 1 / 1 100%
    • Policy: 1 / 1 100%
    • Practice: 1.8 / 3 58.3%
    • Self-reported: 0 / 3 0%
    • External: 1.8 / 3 58.3%
    • Y
      1 / 1

      22. Member of the Global Platform for Sustainable Natural Rubber (GPSNR)?

      The company is a member of GPSNR.

    • Y
      1 / 1

      23. Submitted self-declaration form for the Sustainable Natural Rubber Initiative (SNR-i)?

      The company has submitted a self-declaration to SNR-i.

    • N
      0 / 1

      24. Percentage area (ha) FSC certified?

    • P
      0.75 / 1

      25. Certified under voluntary sustainability certification scheme?

      [Externally verified] The majority of production facilities are ISO 14001 certified; one certificate is available. Some facilities are HeveaPRO certified, however, the scoring criteria is not publicly available therefore points cannot be awarded. N.B. HeveaPRO is the company's own auditing scheme.

    • Y
      1 / 1

      26. Commitment to become 100% certified under voluntary sustainability certification scheme?

      The company is committed to having all factories ISO 14001 certified by 2021.

  • Deforestation and biodiversity Deforestation and biodiversity
    11 / 13 84.6%
    • Organisation: 1 / 1 100%
    • Policy: 7 / 8 87.5%
    • Practice: 3 / 4 75%
    • Self-reported: 2 / 4 50%
    • External: 1 / 4 25%
    • Y
      1 / 1

      27. Commitment to zero deforestation or zero conversion of natural ecosystems?

      The company has a commitment to zero net deforestation in its sustainability policy, however elsewhere clearly commits to zero deforestation including not deforesting HCV, HCS and peat areas.

    • Y
      1 / 1

      28. Commitment to zero deforestation or zero conversion of natural ecosystems applies to all sourcing excluding smallholders?

      Applies to all business partners.

    • Y
      1 / 1

      29. Criteria for defining deforestation?

      The company commits to zero deforestation of HCV, HCS and peat areas. The cut-off date beyond which deforestation/conversion would not be accepted is 15 August 2019.

    • P
      0.5 / 1

      30. Evidence of monitoring deforestation?

      The company states it patrols some set-aside areas in Cameroon. Information is not externally verified.

    • Y
      1 / 1

      31. Amount of illegal/non-complaint deforestation recorded in own operations?

      0 - Figure for 2020.

    • P
      0.5 / 1

      32. Commitment to restoration of non-compliant deforestation/conversion?

      The company commits to protect and restore High Conservation Values (HCVs) areas but no cut-off date could be found.

    • Y
      1 / 1

      33. Implementing a landscape or juridictional level approach?

      The company is implementing a landscape approach. Information has been externally verified.

    • Y
      1 / 1

      34. Commitment to biodiversity conservation?

      Committed to preserving biodiversity.

    • P
      0.75 / 1

      35. Identified species of conservation concern, referencing international or national system of species classification?

      The company reports limited information about the conservation of species, classified according to the IUCN Red List. Also, the information found is not externally verified.

    • P
      0.75 / 1

      36. Examples of species and/or habitat conservation management?

      Biodiversity monitoring, anti-poaching patrols, staff training, and local community engagement in relation to set-aside HCV areas. However, the information found is not externally verified.

    • P
      0.5 / 1

      37. Commitment to no hunting or only sustainable hunting of species?

      The company protects forests areas from "over-hunting" which implies sustainable hunting is permitted. It is not clear whom is allowed to hunt (employees or local communities) or if only forests are protected and hunting within plantations is permissible.

    • Y
      1 / 1

      38. Commitment to protect areas from illegal activities?

      The company provides a commitment to protect forests from illegal activities.

    • Y
      1 / 1

      39. Commitment not to use genetically modified organisms?

      The company has published this commitment.

  • HCV, HCS and impact assessments HCV, HCS and impact assessments
    3 / 7 42.9%
    • Organisation: 0 / 0 0%
    • Policy: 3 / 3 100%
    • Practice: 0 / 4 0%
    • Self-reported: 0 / 4 0%
    • External: 0 / 4 0%
    • Y
      1 / 1

      40. Commitment to conduct High Conservation Value (HCV) assessments?

      Committed to conducting HCV assessments.

    • N
      0 / 1

      41. High Conservation Value (HCV) assessments available?

    • N
      0 / 1

      42. High Conservation Value (HCV) management and monitoring plans available?

    • Y
      1 / 1

      43. Commitment to the High Carbon Stock (HCS) approach?

      The company is committed to the High Carbon Stock (HCS) Approach.

    • N
      0 / 1

      44. High Carbon Stock (HCS) assessments available?

    • Y
      1 / 1

      45. Commitment to conduct social and environmental impact assessments (SEIAs)?

      The company has published this commitment.

    • N
      0 / 1

      46. Social and environmental impact assessment (SEIAs) undertaken, and associated management and monitoring plans?

      Only a third-party review of an original SEIA for Cameroon is available.

  • Soils, fire and GHG emissions Soils, fire and GHG emissions
    9.75 / 14 69.6%
    • Organisation: 2 / 4 50%
    • Policy: 5 / 6 83.3%
    • Practice: 2.8 / 4 68.8%
    • Self-reported: 2.8 / 4 68.8%
    • External: 0 / 4 0%
    • Y
      1 / 1

      47. Commitment to no planting on peat of any depth?

      The company prohibits rubber production on peatland of any depth.

    • Y
      1 / 1

      48. Landbank or planted area on peat (ha)?

      0 - The company has no planted area on peatland.

    • 49. Implementation of commitment to no planting on peat of any depth?

      This indicator is disabled as the company reports that it does not have landbank on peat.

    • Y
      1 / 1

      50. Commitment to best management practices for soils and peat?

      Committed to BMP for soil and peat.

    • P
      0.75 / 1

      51. Evidence of best management practices for soils and peat?

      The company provides some examples of best management practices for soils. However, the information found is not externally verified.

    • Y
      1 / 1

      52. Commitment to best/sustainable tapping practices?

      The company provides a commitment to best/sustainable tapping practices.

    • P
      0.75 / 1

      53. Evidence of best/sustainable tapping practices?

      The company provides examples of implementing best tapping practices.

    • Y
      1 / 1

      54. Commitment to zero burning?

      Committed to zero burning.

    • P
      0.5 / 1

      55. Evidence of fire monitoring and management?

      The company provides evidence of fire management activities but no information on fire monitoring/detection could be found.

    • N
      0 / 1

      56. Details/number of hotspots/fires in company estates/management units?

    • N
      0 / 1

      57. Time-bound commitment to reduce greenhouse gas (GHG) emissions intensity?

    • Y
      1 / 1

      58. GHG emissions intensity?

      0.22 tCO2e per mT of product.

    • N
      0 / 1

      59. GHG emissions from land use change?

    • P
      0.75 / 1

      60. Progress towards commitment to reduce GHG emissions intensity?

      The company reports progress in GHG intensity. However, the information found is not externally verified.

    • Y
      1 / 1

      61. Methodology used to calculate GHG emissions?

      GHG Protocol.

  • Water, chemical and pest management Water, chemical and pest management
    12 / 17 70.6%
    • Organisation: 1 / 2 50%
    • Policy: 5 / 6 83.3%
    • Practice: 6 / 9 66.7%
    • Self-reported: 4.3 / 9 47.2%
    • External: 1.8 / 9 19.4%
    • N
      0 / 1

      62. Time-bound commitment to improve water use intensity?

    • P
      0.5 / 1

      63. Water use intensity?

      The company reports water use figures, however not as water use intensity.

    • P
      0.5 / 1

      64. Progress towards commitment on water use intensity?

      The company reports progress on water use but not as water use intensity. Also, the information found is not externally verified.

    • Y
      1 / 1

      65. Time-bound commitment to improve water quality (BOD and COD)?

      The company has a commitment to be 5% below local legal limits regarding both BOD and COD. This commitment is not time-bound, however the company is already within local legal limits.

    • P
      0.75 / 1

      66. Progress towards commitment on water quality (BOD and COD)?

      The company provides figures on BOD and COD and is already within local legal limits. However, the information found is not externally verified.

    • Y
      1 / 1

      67. Treatment of effluents from processing facilities?

      This information is externally verified by TÜV SÜD under HeveaPRO certification.

    • P
      0.5 / 1

      68. Proportion of processing facilities with closed-loop water treatment system?

      The company reports that it recycled 50.9% of the water used for natural rubber processing.

    • Y
      1 / 1

      69. Commitment to protect natural waterways through buffer zones?

      The company provides a commitment to protect natural waterways through buffer zones.

    • P
      0.75 / 1

      70. Implementation of commitment to protect natural waterways through buffer zones?

      [Externally verified] The company provides examples of protecting natural waterways through buffer zones, however, the information found is more than two years old.

    • P
      0.75 / 1

      71. Reducing odours from natural rubber processing facilities?

      The company provides examples of methods to reduce odour. Information is not externally verified.

    • Y
      1 / 1

      72. Commitment to minimise the use of chemicals, including pesticides and chemical fertilisers?

      Committed to minimise the use of chemicals.

    • Y
      1 / 1

      73. Commitment to no use of World Health Organisation (WHO) Class 1A and 1B pesticides?

      Committed to no use of World Health Organisation.

    • Y
      1 / 1

      74. Commitment to no use of chemicals listed under the Stockholm Convention and Rotterdam Convention?

      Committed to no use of chemicals listed under the Stockholm Convention and Rotterdam Convention.

    • P
      0.5 / 1

      75. Chemical usage per ha or list of chemicals used?

      The company provides information on chemicals used during natural rubber processing but not on plantations.

    • P
      0.5 / 1

      76. Implementation of commitment to reduce chemical usage?

      The company states there has been a reduction but does not report figures.

    • P
      0.5 / 1

      77. Integrated Pest Management (IPM) approach?

      The company states it uses IPM but does not give examples of the methods implemented.

    • P
      0.75 / 1

      78. Waste management system in place to avoid negative impacts?

      The company has a waste management system in place. However, the information found is not externally verified.

  • Community, land and labour rights Community, land and labour rights
    24.5 / 27 90.7%
    • Organisation: 5 / 5 100%
    • Policy: 15.5 / 16 96.9%
    • Practice: 4 / 6 66.7%
    • Self-reported: 2 / 6 33.3%
    • External: 2 / 6 33.3%
    • Y
      1 / 1

      79. Commitment to human rights?

      Committed to human rights with reference to the Universal Declaration of Human Rights.

    • Y
      1 / 1

      80. Commitment to human rights applies to all sourcing excluding smallholders?

      Applies to all business partners.

    • Y
      1 / 1

      81. Commitment to respect Indigenous and local communities' rights?

      The company provides a commitment to respect Indigenous and local communities' rights.

    • Y
      1 / 1

      82. Commitment to respect legal and customary land tenure rights?

      The company states "respect and protect Customary Land Tenure Rights and prohibit any Land Grabbing approaches".

    • Y
      1 / 1

      83. Commitment to free, prior and informed consent (FPIC)?

      Committed to FPIC.

    • Y
      1 / 1

      84. Commitment to free, prior and informed consent (FPIC) applies to all suppliers excluding smallholders?

      The company provides a commitment to FPIC which applies to all business partners.

    • Y
      1 / 1

      85. Details on Free, prior and informed consent (FPIC) process available?

      The company commits to the FPIC process by UN-REDD.

    • Y
      1 / 1

      86. Examples of local stakeholder engagement to prevent conflicts?

      The company provides examples of how it engages with the local communities in collaboration with local NGOs.

    • Y
      1 / 1

      87. Details of process for addressing land conflicts available?

      The company's grievance procedure covers land conflicts.

    • P
      0.5 / 1

      88. Supports the inclusion of women across natural rubber operations, including addressing barriers faced?

      The company has a commitment to empowering women throughout the supply chain however this commitment does not cover all the company's operations. Also, the information found is not externally verified.

    • Y
      1 / 1

      89. Commitment to mitigate impacts on food security?

      The company mentions food security in various statements which together add up to a commitment to mitigate food security.

    • P
      0.75 / 1

      90. Progress on commitment to mitigate impacts on food security?

      The company provides multiple examples of activities on mitigating impacts on food security in Cameroon. Also, the information found is not externally verified.

    • Y
      1 / 1

      91. Commitment to provide essential community services and facilities?

      Committed to providing essential community services and facilities.

    • Y
      1 / 1

      92. Progress on commitment to provide essential community services and facilities?

      The company gives examples regarding various services and facilities provided to the local community.

    • Y
      1 / 1

      93. Commitment to provide business/work opportunities for local communities?

      The company provides a commitment to provide business/work opportunities for local communities.

    • Y
      1 / 1

      94. Commitment to Fundamental ILO Conventions or Free and Fair Labour Principles?

      Committed to all fundamental ILO Conventions.

    • Y
      1 / 1

      95. Commitment to eliminate gender related discrimination with regards to employment?

      The company provides equal hiring and employment opportunities.

    • N
      0 / 1

      96. Progress on commitment to eliminate gender related discrimination with regards to employment?

    • Y
      1 / 1

      97. Percentage or number of temporary employees?

      1,789 (10.8%) - The company reports number of temporary employees.

    • Y
      1 / 1

      98. Percentage or number of women employees?

      3,416 (20.7%) - Reports the number of women employees.

    • Y
      1 / 1

      99. Commitment to pay at least minimum wage?

      Committed to paying at least minimum wage.

    • P
      0.5 / 1

      100. Progress on commitment to pay at least minimum wage?

      The company states that the ratio of entry-level wage compared to the local minimum wage was 1:1 in 2016. The information found is more than two years old and is not externally verified.

    • Y
      1 / 1

      101. Reporting of salary by gender?

      The company reports that wages of male and female employees of equivalent work or grading is 1:1.

    • Y
      1 / 1

      102. Commitment to address occupational health and safety?

      Committed to addressing occupational health and safety.

    • P
      0.75 / 1

      103. Provision of personal protective equipment and related training?

      The company provides PPE and related training to employees. However, the information found is not externally verified.

    • Y
      1 / 1

      104. Time lost due to work-based injuries?

      The figure represents the injury lost day rate in 2019.

    • Y
      1 / 1

      105. Number of fatalities as a result of work-based accidents?

      0 - Reports zero fatalities.

  • Smallholders and suppliers Smallholders and suppliers
    6.75 / 10 67.5%
    • Organisation: 0 / 1 0%
    • Policy: 3 / 4 75%
    • Practice: 3.8 / 5 75%
    • Self-reported: 2 / 5 40%
    • External: 1.8 / 5 35%
    • Y
      1 / 1

      106. Commitment to support smallholders?

      The company provides a commitment to support the livelihood of smallholder farmers.

    • N
      0 / 1

      107. Percentage of supply from smallholders?

    • 108. Programme to support scheme smallholders/outgrowers?

      This indicator is disabled as the company reports that it does not source from scheme/outgrower smallholder suppliers.

    • 109. Percentage of scheme smallholders/outgrowers involved in programme?

      This indicator is disabled as the company reports that it does not source from scheme/outgrower smallholder suppliers.

    • Y
      1 / 1

      110. Programme to support independent smallholders?

      The company provides multiple examples of how it supports independent smallholders including training and providing equipment, seedlings, and financial support.

    • P
      0.75 / 1

      111. Percentage of independent smallholders involved in programme?

      [Externally verified] 17,236 - The figure covers the company's operations on the Cote d'Ivoire (16,769) and Cameroon (467) only.

    • P
      0.5 / 1

      112. Process used to engage smallholder suppliers on compliance with company's policy and/or legal requirements?

      The company provides some details on engagement of suppliers however limited details are provided on the process to prioritise or assess suppliers.

    • P
      0.5 / 1

      113. Number or percentage of smallholder suppliers engaged on compliance with company's policy and/or legal requirements?

      467 - This figure represents smallholders in Cameroon only. Data from 2019.

    • Y
      1 / 1

      114. Process used to prioritise, assess and/or engage non-smallholder suppliers on compliance with company's policy and/or legal requirements?

      Suppliers are required to report compliance with the company's sustainable sourcing policy on an annual basis.

    • P
      0.75 / 1

      115. Number or percentage of non-smallholder suppliers assessed and/or engaged on compliance with company's policy and/or legal requirements?

      Figure represents suppliers engaged, not assessed.

    • P
      0.5 / 1

      116. Suspension or exclusion criteria for suppliers?

      The company mentions some criteria for suspension/exclusion but does not give timeframes for the implementation of corrective action plans.

    • P
      0.75 / 1

      117. Percentage of supply coming from agroforestry?

      0 - The company currently receives no supply from agroforestry but has plans to incorporate 300 ha into its smallholder programme.

  • Governance and grievances Governance and grievances
    4.75 / 6 79.2%
    • Organisation: 0 / 0 0%
    • Policy: 3 / 4 75%
    • Practice: 1.8 / 2 87.5%
    • Self-reported: 1.8 / 2 87.5%
    • External: 0 / 2 0%
    • Y
      1 / 1

      118. Commitment to ethical conduct and prohibition of corruption?

      Committed to conduct business ethically and prohibit corruption.

    • P
      0.75 / 1

      119. Progress on commitment to ethical conduct and prohibition of corruption?

      The company provides evidence of actions taken to implement ethical conduct and anti-corruption policies. It also states it has achieved zero cases of corruption in 2019. However, the information found is not externally verified.

    • N
      0 / 1

      120. Disclosure of the company's management approach to tax and payments to governments?

    • Y
      1 / 1

      121. Whistleblowing procedure?

      The company has a whistleblowing procedure which protects the anonymity of whistleblowers.

    • Y
      1 / 1

      122. Own grievance or complaints system open to all stakeholders?

      The company has a grievance system that is open to all stakeholders.

    • Y
      1 / 1

      123. Details of complaints and grievances disclosed?

      The company discloses comprehensive detail on grievances.

Media monitor: Halcyon Agri

SPOTT monitors global media sources for coverage of assessed companies. The media monitor gathers reports about specific activities related to the assessment indicator categories. ZSL does not assess or score the validity of media coverage, but users can explore the media monitor to provide context on implementation, and infer risks associated with reported operations on the ground.

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