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April 30, 2015

The Guardian: Banks and pension funds continue to bankroll deforestation and land grabs

“Loans and bonds backing palm oil expansion have been steadily increasing over the past five years, amounting to tens of billions of dollars per year,” says Tom Picken of the Rainforest Action Network. “This has enabled a surge of palm oil planting across the Congo and Amazon, as well as continued expansion onto the peat forests of Indonesia and Malaysia, destroying habitats and fueling conflict, with local communities forced off their lands.”

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