From endangering beloved orangutans to destroying invaluable rainforest habitats, we know that Indonesia’s palm oil industry is bad news for the planet. But a New York Times investigation just revealed that if you use global banks like Credit Suisse, you might be contributing to this environmental crisis.
Many blamed palm oil plantation conglomerate Rajawali Group for last year’s devastating fires that destroyed vast swaths of Indonesian rainforest. But Rajawali’s terrible environmental record hasn’t stopped Credit Suisse from loaning it a massive $245 million in 2014. The loan flies in the face of the banks claim that it won’t finance companies with operations in “primary tropical moist forests” like where Rajawali operates.
Facing an uphill battle against climate change, runaway deforestation caused by companies like Rajawali make the fight almost impossible. But if we can hit Rajawali’s where it hurts -- its finances -- we have a chance to save what’s left of Indonesia’s rainforest. Let’s hold Credit Suisse to its word and demand it end its loans to Rajawali Group.
Urge Credit Suisse to stop loaning to palm oil conglomerates like Rajawali that threaten orangutans, public health, and the planet.
Rajawali has been accused of using the same illegal slash and burn techniques that may have caused last year’s massive fires. Through deforestation and fires, palm oil plantations make Indonesia the third largest carbon emitter in the world.
Besides the 500,000 people that contracted respiratory illnesses from last year’s fires, Credit Suisse’s ties to Rajawali are putting another group at risk. The palm oil industry has slashed Bornean orangutan populations, making them critically endangered.
Some of the environmental movement’s biggest wins have come when we defund the worst environmental offenders. Just last month, public pressure forced DNB to sell its assets in the controversial Dakota Access Pipeline. This is our chance to turn the same strategy against Rajawali and the danger it poses to orangutans and the planet itself.