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September 07, 2016

Bloomberg: Banks Blanketed in Haze They Helped Finance

That’s the message behind a new tool tracing more than $50 billion in financial flows to palm oil, pulp and paper and other products linked to tropical deforestation in the region.

“It’s certainly ironic,” Tom Picken, who directs Rainforest Action Network’s forests and finance campaign, said Sept. 6 from Singapore, where smokey skies from plantation land-burning have become a regular fixture. RAN created the tool with civil society group TuK Indonesia and Dutch consultancy Profundo. (read more)

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  • commented 2017-01-05 09:09:18 -0800
    The haze caused by plantation land-burning has become an annual occurrence in Southeast Asia and leads to periodic tensions with the Indonesian government. Smoke from illegal burning to clear land for palm oil and paper plantations that blanketed Singapore, parts of Indonesia, Malaysia and Thailand last year briefly turned Indonesia into the world’s biggest climate polluter.“There’s a really strong interest from the responsible investment community,” to better understand what their exposure is by looking at this tool,” which is to be updated quarterly.
    Thanks
    http://emicalculators.in/