palm oil

Last edited 1 January 1970 at 1:00am
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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
All rights reserved. Credit: Ulet Ifansasti / Greenpeace
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

Last edited 1 January 1970 at 1:00am
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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

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
All rights reserved. Credit: Kemal Jufri / Greenpeace
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

Last edited 1 January 1970 at 1:00am
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