HSBC funding the razing of Indonesian forests, says Greenpeace
The bank 'was party to giving out US$16.3b in loans since 2012 to errant oil-palm firms'
Jakarta
GREENPEACE on Tuesday accused banking giant HSBC of helping to arrange billions of dollars in financing for companies whose palm-oil operations have been blamed for destroying vast swathes of Indonesian rainforest.
The environmental group said the British bank - which was part of syndicates that have arranged US$16.3 billion in loans since 2012 - had broken its own guidelines which ban supporting palm-oil companies involved in unsustainable practices.
The bank was also involved in arranging nearly US$2 billion in corporate bon…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Abu Dhabi returns to debt market with new US dollar bond
Ping An profit falls as market declines hurt investment returns
BOJ will hike rates if trend inflation accelerates, says Ueda
Binance’s rivals muscle in on Bitcoin trading around the world
Citi picks Amit Dhawan to head Singapore commercial bank operations
China finance ministry echoes Xi’s call for bond trading at PBOC