has announced a new $120 million (£99 million) biotech venture that could help save rainforests by creating a substitute for palm oil.The ingredient is used in food manufacturing and beauty products but its production is also responsible for the rapid deforestation of some of the world's most biodiverse forests, destroying the habitat of already endangered species like the orangutan.Using cutting-edge technology, British consumer goods giant Unilever hopes to slash its carbon footprint from palm-derived ingredients by up to 50 per cent.
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