15 Mar '17, 12am

Who still banks on destroying Indonesia's forests? - Greenpeace UK (blog)

Who still banks on destroying Indonesia's forests? - Greenpeace UK (blog)

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. HSBC brought in a new policy after we showed how it had been involved in providing loans to some of the most destructive palm oil companies and hundreds of thousands of people around the world demanded tougher action. We still need to see how good HSBC is at putting this new policy into practice, but if done right it could put significant pressure on palm oil companies to stop destroying forests. Other banks, however, are lagging way behind. When we threw the spotlight on HSBC's role in deforestation earlier this year, we also highlighted 17 ...

Full article: http://www.greenpeace.org.uk/blog/forests/who-still-banks...

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