HSBC and Commerzbank are financing dubious palm oil company Noble

 Oil palm graveyard - these palms were injected with pesticides (paraquat, according to locals) so to kill them and allow preparations for the next planting. | Bild (Ausschnitt): © Wakx [CC BY-NC-SA 2.0] - Flickr

In January 2017 Greenpeace released the report „Dirty Bankers – How HSBC is financing forest destruction for palm oil“.   This report provides a detailed explanation of the business relations between HSBC and controversial palm oil companies.
HSBC is considered to be one of the leading investors of the palm oil industry. Noble Group for example, a supplier of agricultural and energy products based in Hong Kong, is financed by this bank.   ... →

Sampoerna Agro: Indonesian Palm Oil producer fined for rainforest destruction

 Für Palmöl gerodeter Regenwald, Quelle: flickr, © H Dragon | Bild (Ausschnitt): © Hayden [CC BY 2.0] - flickr

In a court decision of August 2016, the Indonesian court in Jakarta sentenced the Indonesian palm oil producer Sampoerna Agro to the highest ever penalty for illegal slash and burn agriculture, as Reuters reports.

According to the judgment of 11 August, the company was “negligent in relation to fires” over an area of 3,000 hectares in the province of Riau in 2014.   ... →

New Study about the effects of Palm Oil Production

 

 

Photo : creative commons Flickr Marufish

It now well known that the production of palm oil not only has devastating environmental, but also social problems. A study by the German NGO SÜDWIND provides further information into the breaches of social and environmental standards and related human rights violations. It specifically looks at cases in Indonesia, Malaysia and Honduras.   ... →

Vale S.A.: Start of palm oil production in Amazon-rainforest

 Photo: Nafise Motlaq / World Bank | Bild (Ausschnitt): © World Bank Photo Collection [CC BY-NC-ND 2.0] - flickr

Environmental menace in Brazil

Around 15% of Vale´s total costs stem from its energy spendings. Moreover, according to a new Brazilian policy, diesel fuel has to contain 10% of biodiesel by 2020, up to 5% currently. These reasons have led the company to initiate a new strategy of self-sufficiency concerning its energy supply.

Recently, Vale has inaugurated its first palm oil plantation in the Amazon-rainforest.   ... →