21 November, 2013. Source: Friends of the Earth
WASHINGTON, D.C./JAKARTA – Illegal and destructive production of palm oil in Indonesia is continuing, with a chain of culpability that spreads worldwide, from Southeast Asian rain forests to supermarket shelves and Wall Street board rooms, reveals a new report released today by Friends of the Earth1, Forest Heroes and SumOfUs.
In recent years, consumers have been shocked to learn that many household food brands use palm oil from sources engaged in widespread destruction of tropical forests. The new report, Commodity Crimes: Illicit Land Grabs, Illegal Palm Oil and Endangered Orangutans shows how this forest destruction not only harms forest peoples, endangered species and the Earth’s climate, but is often illegal. The report names the major U.S. and European banks that are financing these unlawful land grabs and the investors who are profiting.
Commodity Crimes: Illicit Land Grabs, Illegal Palm Oil and Endangered Orangutans documents how one Indonesian company, Bumitama Agri Ltd, engaged in systematic forest destruction in and around forest reserves and in 2012 sold itself in a public offering that admitted to including illegally cleared tracts of forest. The financial maneuvers of Bumitama Agri – a leading supplier to the global market, including to Wilmar International, the world’s largest palm oil trader – also raise questions about compliance with Indonesia’s tax laws and law against money laundering. Continue reading