20 Feb '17, 11am

New HSBC ‘no deforestation’ policy first step towards sustainable palm oil finance | Greenpeace UK https://t.co/HDS4On2fPP

The move by HSBC – Europe’s largest bank and a major funder of palm oil companies – follows an investigation by Greenpeace 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: “Our rainforest is being carved up at a frightening rate and high street banks all over the world are funding this destruction. HSBC's commitment to break its ties to destructive palm oil companies is a good first step and Greenpeace will be watching closely to make sure it delivers. This also sends a clear signal that other global banks must follow suit.” In its new policy, HSBC has made stronger commitments to refuse finance for companies that clear forests and peatlands. If adopted across the banking s...

Full article: http://www.greenpeace.org.uk/media/press-releases/new-hsb...

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