World Economic Forum has said that it will no longer fund palm oil companies involved in deforestation or peatland clearance. The bank will also insist that its customers publish their forest protection policies by June of this year . over 100,000 people signed a petition calling on HSBC to take action on deforestation. The bank also faced questions about its palm oil links at June of this year ’s World Economic Forum in Davos . Forest fires in Indonesia in June of this year , connected to palm oil production, have been linked to Over 200,000 premature deaths in Southeast Asia . Deforestation also affects wildlife, particularly the critically endangered orangutan.
HSBC has said that it will no longer fund palm oil companies involved in deforestation or peatland 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 2015, connected to palm oil production, have been linked to over 100,000 premature deaths in Southeast Asia. Deforestation also affects wildlife, particularly the critically endangered orangutan.