10 Feb '17, 4pm

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

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

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. More than 200,000 people across the world - including many HSBC customers - have demanded that HSBC only provides loans and other financial services to companies that protect forests, including over 30,000 people in the UK who have sent emails directly to Stuart Gulliver, HSBC's CEO. HSBC has up until now been pretty quiet. But now, everyone who has emailed the bank to complain about its role in funding deforestation is receiving the same response. At face value, it looks reassuring but dig a little deeper and there are plenty of holes and unanswered questions. Let's take a look at what H...

Full article: http://www.greenpeace.org.uk/blog/forests/hsbc-debunked#....

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