The banks and investors exposed to deforestation risks in Southeast Asia

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Rainforest Action Network has produced an excellent report on financiers which backs companies involved in forest destruction, including for palm oil. The report can be viewed at this website:

Meanwhile, Clean Malaysia has published article with a summary of the report. Link to the article can be found here. Excerpt from Clean Malaysia’s article is as follows:

“Between 2010 and 2015 lenders from around the world gave an estimated total of US$50 billion (RM205 billion) to corporate entities, including palm oil companies, that engaged in extensive deforestation in the two countries. The total value of loans Malaysian banks gave to companies engaged in forest clearance amounted to US$7.7 billion (RM31.6 billion).

The top two financiers of companies that posed threats to forests were Malayan Banking and CIMB in Malaysia: each provided loans amounting to US$2.5 billion (RM10.25 billion) for such purposes.”