Banking on the Death of Forests

The world of finance is driving deforestation across the South-East Asian region

 

Many banks treat forests as exploitable resources; so much so that they are behind massive deforestation across Indonesia and Malaysia. By financing companies that cut down forests for profit, the banks are key drivers of forest loss in these two countries, and farther afield.

Globally, 2 billion of us have bank accounts, yet without our knowledge, RAN explains, our banks may invest our money into companies that decimate forests so as to cultivate rubber or palm oil, obtain timber or produce pulp and paper. They are “making big profits for bankers and investors while ruining (local) people’s lives, taking land from indigenous people, removing habitats for endangered species and worsening global climate change.”

So what can we do? We can stop banking with banks who lend money to companies that destroy or despoil forests, that’s what.

Link: http://cleanmalaysia.com/2016/09/11/banking-death-forests/

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