Entries by TuK Indonesia

Maybank: The Single Largest Palm Oil Financier

Maybank is the world’s single largest financier of the palm oil sector – it provided 11% of all loans and underwriting to selected palm oil companies in the period 2010-2016 – but it has no publicly available risk policy for financing the sector. The bank has financial relationships with a large number of controversial palm […]

Kerunang and Entapang Complaint against RSPO at OECD in Swiss

This is a complaint by two Dayak Hibun communities in West Kalimantan, Indonesia (“the Communities”). It is made against a regulatory body called Roundtable for Sustainable Palm Oil (“RSPO”) under Chapter IV of the OECD Guidelines 2011 edition. The Communities’ complaint is that RSPO has failed in breach of Chapter IV(3) to “seek ways to […]

Defeat RAPP and the Importance of Sustainable Finance

By: Rahmawati Retno Winarni & Jalal * There are many environmental events that have occurred throughout 2017. But among the events, it seems that the dispute between PT Riau Andalan Pulp and Paper with the Government of the Republic of Indonesia, in particular the Ministry of Environment and Forests (KLHK) is one of the event […]

Press Release Maybank: the single largest palm oil financier

Jakarta, 30 November 2017 Today, TuK Indonesia and Profundo launched the report ‘Maybank: the single largest palm oil financier’, during a press conference at the Roundtable on Sustainable Palm Oil (RSPO). The report finds that Maybank is the world’s single largest financier of the palm oil sector – it provided 11% of all loans and […]

Presentations from two Global Sustainable Finance Experts

Jalal Sustainable Financial Advisor Transformation for Indonesian Justice In just over a month, two global sustainable finance experts came to Indonesia. Both were equally willing to take the time to share their thoughts with the public in Indonesia. First, Myriam Vander Stichele of SOMO (Center for Research on Multinational Corporation), gave a lecture at Trisakti […]

Warning to financiers of the acquisition of pulp company Eldorado Brasil

Download pdf Investors should demand that the buyer of Eldorado Brasil, will commit to implementing strict ESG criteria that will improve the social, environmental governance performance of Eldorado. Failing to do so will expose financiers to both financial as well as reputational risk. Eldorado’s performance on Social, Environmental and Governance issues has not been exemplar. […]

New Indonesian Regulation on Sustainable Finance

New Indonesian Regulation on Sustainable Finance important step in addressing the role of banks and investors in forest destruction and human rights abuses In July 2017, the Indonesian financial services authority (OJK) published a new Regulation on Sustainable Finance (POJK). The POJK is a welcome and important step in addressing the role of banks and […]

Welcoming the Financial Services Authority’s Regulation on Sustainable Finance (POJK)

By Jalal Sustainable Finance Advisor Transformation for Justice in Indonesia This article was also published in Tempo After waiting anxiously since early 2015, we can finally see the birth of a regulation on sustainable finance in Indonesia.  On July 20, 2017, the last day of the 2012-2017 office term of the Financial Services Authority’s (Otoritas […]

European expert group on sustainable finance calls for feedback

Since January 2017, a High-Level Expert Group on Sustainable Finance (HLEG) has been at work to provide operational and concrete recommendations to the European Commission (EC) for a comprehensive EU strategy to ensure that finance contributes to long-term social, environmental and economic sustainability. The HLEG published an interim report in mid-July 2017, which was presented […]