"Miles to Go" screens in London

Who still banks on destroying Indonesia's forests?

Posted by jamie — 15 March 2017 at 1:07am - Comments

Forest clearance in land owned by a subsidiary of Bumitama Gunajaya Agro, West K

Many major banks need to act and refuse funding to palm oil companies that destroy forests

A few weeks ago, HSBC took a big step forward in cutting its links with the destruction of Indonesia's forests by pledging to end funding for destructive palm oil companies. But HSBC is not the only bank lending money to palm oil companies pushing further and further into the forest, and the others now have a lot of catching up to do.

Article tagged as: anz, bank of america, BNP Paribas, deforestation, deutsche bank, forests, HSBC, indonesia, palm oil, standard chartered

New HSBC ‘no deforestation’ policy first step towards sustainable palm oil finance

Last edited 21 February 2017 at 6:33pm

Global banks need to follow suit to save Indonesia’s rainforests

20 February, 2017

Monday 20th February, 2017, London – HSBC today published a new ‘No Deforestation, No Peat, No Exploitation’ policy covering its financing of palm oil companies. [1]

The move by HSBC – Europe’s largest bank and a major funder of palm oil companies – follows an investigation by Greenpeace International that linked it to companies destroying Indonesia’s rainforests. [2] Hundreds of thousands of people joined the campaign to change the bank’s policies, including 30,000 HSBC customers.

Annisa Rahmawati, forest campaigner for Greenpeace Indonesia, said:

Article tagged as: Banks, HSBC, indonesia, palm oil, rainforest, success

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30,000 HSBC customers call on their bank to stop funding deforestation.

Last edited 13 February 2017 at 12:43pm

13 February, 2017

Monday 13th February, 2017, London – HSBC, Europe’s biggest bank, is facing a consumer backlash from their customers over their ongoing financing of palm oil companies destroying Indonesia’s rainforest.

Three weeks ago[1] Greenpeace exposed how, despite having policies which they claim ‘prohibit the funding of deforestation’, HSBC have been financing some of the most destructive palm oil producers in Indonesia, responsible for destroying scarce orangutan habitat, labour abuses, and increasing fire risk through rainforest clearance and illegal drainage.

Since then, 120,000 people in the UK have signed our petition calling on HSBC to stop financing deforestation, including 30,000 HSBC customers.

Article tagged as: HSBC, indonesia, palm oil. orangutans, rainforest

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HSBC: what they've said about funding deforestation, and why it's wrong

Posted by jamie — 8 February 2017 at 3:59pm - Comments

Bulldozers clearing peatland forest in Central Kalimantan, Indonesia

Bumitama, the company behind these bulldozers, received loans from HSBC despite breaching the bank's policies

Over three weeks ago, we exposed how HSBC is funding palm oil companies that are tearing up Indonesia's forests. Since then, thousands of emails have been sent to the CEO. Now HSBC is responding to those emails, but what it's saying is at times misguided, and other times just plain wrong.

Article tagged as: HSBC, indonesia, palm oil

HSBC boss grilled on Greenpeace campaign at Davos

Posted by Joe Sutherland — 25 January 2017 at 4:27pm - Comments

Last week we revealed that HSBC - the biggest bank in the UK - is funding palm oil companies who are destroying rainforests in Indonesia. People across the world have since demanded that HSBC stop its profit-hungry palm oil investments.

Article tagged as: banking, forest fires, HSBC, orangutans, palm oil deforestation

HSBC backs nuclear power in Indian earthquake zone

Posted by jamie — 11 May 2011 at 12:34pm - Comments

Site of the proposed nuclear power station in Jaitapur, India

Two months ago, an earthquake and tsunami hit Japan. This not only resulted in a huge natural disaster and humanitarian crisis, but also triggered an unprecedented man-made tragedy. And yet plans are afoot to build a nuclear power plant in another earthquake zone, this time in India.

Article tagged as: BNP Paribas, climate change, HSBC, india, jaitapur, nuclear power

Greenpeace UK

HSBC