Dec 092014
 

By Rey Edward, Friends of the Earth, originally published on the FOE Blog on 25 November 2014.

Chinese banks are the largest lenders to development projects in the world. As Chinese banks increasingly invest in development projects overseas, will they also invest in environmental and social  sustainability? Our new report, “Going out, But Going Green? Assessing the Implementation of China’s Green Credit Guidelines Overseas”, examines the extent of bank compliance with China’s landmark, green finance policy.

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Dec 082014
 

 By Justin Guay, Sierra Club, and Yann Louvel, BankTrack, 5 December 2014, originally published on the Huffington Post blog.

After nearly destroying the global financial system, big international banks are yet again undermining international stability, this time by underwriting the coal industry’s devastating effect on climate disruption and human health.

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Forests and Finance: New Cash for Conflict Palm Oil

 Rainforest Action Network  Comments Off on Forests and Finance: New Cash for Conflict Palm Oil
Dec 032014
 

RAN briefing finds pending $900 million deal threatens forests, peatlands and communities across Indonesia.

Indonesian palm oil firmpalm oil BW Plantation (BWPT) approved last week a USD $900 million share rights offering in a bid to finance its merger with Green Eagle Holdings (GEH). New stock not purchased by existing shareholders will be traded on the Jakarta Stock Exchange (IDX) from Monday December 8.

RAN released a briefing note, available here, on the controversial deal today, alerting investors to poorly disclosed Conflict Palm Oil risks.

The deal expands BWPT’s holdings from just under 100,000 ha to over 400,000 ha, propelling it into the rank of Indonesia’s third largest palm oil company listed on the IDX. However, 75% of the new land bank – with holdings in Papua, Sulewesi, West, East and South Kalimantan and Sumatra – is unplanted and includes large tracts of rainforests, Indigenous and local community lands, and areas of carbon-rich peatlands. Continue reading »