HSBC , Europe ’s largest bank , has allegedly lent money to palm oil companies linked to deforestation in Indonesia , according to a report by environmental group Greenpeace . The research claims that loans worth hundreds of millions of euros have been made to six companies since 2012 . The companies are also alleged to have violated labour laws and environmental licences . “We are not aware of any current instances where customers are alleged to be operating outside our policy and where we have not taken, or are not taking, appropriate action,” the bank added. Indonesia has called on HSBC to increase due diligence in regards to its supply chains without relying simply on standards established by the Roundtable on Sustainable Palm Oil , which has faced growing criticism for poor practice .
HSBC , Europe ’s largest bank , has allegedly lent money to palm oil companies linked to deforestation in Indonesia , according to a report by environmental group Greenpeace . The research claims that loans worth hundreds of millions of euros have been made to six companies since 2012 . The companies are also alleged to have violated labour laws and environmental licences . Indonesia has called on HSBC to increase due diligence in regards to its supply chains without relying simply on standards established by the Roundtable on Sustainable Palm Oil , which has faced growing criticism for poor practice .