HSBC has said that it will no longer fund palm oil companies involved in deforestation or forest clearance . The bank will also insist that its customers publish their forest protection policies by June of this year . Over 200,000 people signed a petition calling on HSBC to take action on deforestation . The bank also faced questions about its palm oil links at this year ’s World Economic Forum in Davos . Forest fires in Indonesia in 2007 , connected to palm oil production , have been linked to over 100,000 premature deaths in Southeast Asia . new policy says they will no longer provide funding to companies involved in any kind of deforestation or peatland clearance, both of which were missing from previous versions. It also affects wildlife , particularly the critically endangered orangutan .
HSBC has said that it will no longer fund palm oil companies involved in deforestation or forest clearance . The bank will also insist that its customers publish their forest protection policies by June of this year . Over 200,000 people signed a petition calling on HSBC to take action on deforestation . The bank also faced questions about its palm oil links at this year ’s World Economic Forum in Davos . Forest fires in Indonesia in 2007 , connected to palm oil production , have been linked to over 100,000 premature deaths in Southeast Asia . It also affects wildlife , particularly the critically endangered orangutan .