indonesia

Who still banks on destroying Indonesia's forests?

Posted by jamie — 15 March 2017 at 12:07am - 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.

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

HSBC promises to cut ties with forest-trashing palm oil companies

Posted by Annisa Rahmawati — 21 February 2017 at 5:09pm - Comments
A Greenpeace volunteer campaigns outside a branch of HSBC
All rights reserved. Credit: Alban Grosdidier / Greenpeace
Greenpeace volunteers campaigned outside HSBC branches in the UK and other countries

There's been a major breakthrough in protecting Indonesia's forests: HSBC has committed to breaking its links to palm oil companies destroying forests and peatlands. This is a fantastic result for everyone who has been campaigning over the last few weeks, although the hard work doesn’t stop there. The real test now is how those words will be put into practice.

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

Last edited 21 February 2017 at 5:33pm

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:

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

Last edited 13 February 2017 at 11:43am
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.

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

Posted by jamie — 8 February 2017 at 2:59pm - 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.

Bulldozers clearing peatland forest in Central Kalimantan, Indonesia

Destructive palm oil company IOI let off the hook too easily by RSPO

Posted by Annisa Rahmawati — 10 August 2016 at 11:32am - Comments
A Greenpeace investigator bears witness in an IOI palm oil concession
All rights reserved. Credit: Ulet Ifansasti / Greenpeace
IOI concessions were severely burnt during the 2015 forest fires

A major palm oil company, which had its sustainability certificates suspended for violating rules designed to prevent the destruction of Indonesia's forests and peatlands, has had those certificates reinstated. This shocking decision by the industry's own sustainability group to lift the suspension sends a message that it's OK for palm oil companies to continue trashing forests in pursuit of profits.

Getting Tough On Palm Oil

Posted by Richard — 27 June 2016 at 1:55pm - Comments

Indonesia's forests and peatlands help regulate the global climate and contain a diversity of life. They are home to some magnificent species, including elephants, orangutans and tigers. Thankfully, pressure from all of us has secured commitments from some of the world's biggest brands to do all they can to protect them.

Palm oil giant IOI has lost customers for destroying forests, but will it change?

Posted by Annisa Rahmawati — 9 June 2016 at 11:12am - Comments
A Greenpeace investigator bears witness in an IOI palm oil concession
All rights reserved. Credit: Ulet Ifansasti / Greenpeace
Bearing witness in an IOI palm oil concession, April 2016

IOI - one of the largest palm oil companies in the world - is having a difficult time right now.

Not only has it recently lost its sustainability certification, but as a result its customers are leaving in droves. And with good reason: our new report shows how IOI's operations have led to the destruction of forests and peatlands in Borneo, despite repeated promises to protect these areas.

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