To mark the inauguration of the New National Olympic Stadium in Tokyo on December 21st, 12 NGOs issued the following statement, denouncing the Stadium’s severe negative impact on the tropical rainforests in Indonesia and Malaysia as a result of its construction: “The construction of the New National Olympic Stadium in Tokyo has come at an […]
Jakarta, 21 March 2019 – Dayak Hibun indigenous peoples from Kerunang hamlet and Entapang hamlet, Bonti Sub-district, Sanggau District, West Kalimantan express their deep objection with regards to the sale of PT Mitra Austral Sejahtera (PT MAS) by Sime Darby Plantation, a Malaysian corporate entity. PT MAS, a subsidiary of Sime Darby plantation has broken […]
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 […]
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 […]
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 […]
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 […]
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 […]
Between 2010 and 2016, 8 RSPO member banks were involved in finance to at least 4 non-RSPO member palm oil groups operating in South East Asia. Together, these RSPO banks provided corporate loans and revolving credits to the 4 non-RSPO member groups worth USD 212 million. They also held shares in these companies worth around […]
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 […]