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4 reasons to tell HSBC: stop funding forest destruction

Posted by Joe Sutherland - 7th February 2017

HSBC claim to take sustainability seriously. But secret filming has caught a company funded by the bank bulldozing forests in Indonesia for palm oil. Since then over 200,000 people across the world have signed the petition demanding that it stops funding palm oil predators. We’ve raised our voices – but the bank still hasn’t committed to clearing up its act.

Here’s why HSBC bosses must sit up and listen before it is too late.

1. Palm oil predators are destroying our rainforests


Rainforests are a vital part of our planet’s ecosystem. Indonesian forests and peatlands help to regulate the global climate and are home to thousands of species. But in countries like Indonesia palm oil companies are tearing forests and helping to fan the flames of forest fires. Since 1990, over one quarter of Indonesia’s rainforest has been destroyed.

2. Orangutans on the brink of extinction


Forest destruction in the name of palm oil is destroying the habitats of orangutans, one of our closest living relatives. Scientists recently classified the Bornean orangutan as ‘critically endangered’ with habitat destruction one of the biggest causes. It’s time big brands like HSBC stopped cashing in on an orangutan crisis.

3. Forest fires are making climate change worse


Large areas of Indonesian forests grow in swampy peatlands which need to be drained and cleared before oil palms can grow there. A cheap way to clear this land for planting is to use fire, but peat stores large amounts of carbon and when burnt it releases this carbon into the atmosphere. In 2015, the daily emissions from Indonesia’s forest fires on some occasions exceeded those of the USA. That means forest fires, fuelled by destructive palm oil companies, are a big contributor to climate change.

4. The toxic haze from forest fires is deadly


These forest and peat fires also pump out a toxic haze. The fumes spread to schools and homes, not just in Indonesia but across the whole of South East Asia! The fires in 2015 have been linked to over 100,000 premature deaths across the region.

Ready to take action? Join the 200,000 people demanding HSBC stop funding forest destruction. There’s also a whole host of other ways to get involved, like tweeting HSBC, writing on HSBC’s Facebook or emailing the bank’s CEO.

HSBC is the biggest bank in the UK and a few weeks ago it launched a fancy advertising campaign to impress people just like you. The bosses care what you think – they just need to hear at loud and clear, from as many angles as possible!

Article Tagged as: Featured, Forests, Palm oil