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U.S. Banks Financing Rainforest Destruction for Palm Oil Plantations

2013-11-22 15:55:00| Climate Ark Climate Change & Global Warming Newsfeed

EcoWatch: A new report names major U.S. and European banks that are financing land grabs in Indonesia for palm oil production--which is harming the rainforest and the lives of the people who live there--and the investors who are profiting from the business. Palm oil producers in Indonesia are clearing tropical rainforests to plant their oil palm trees, obliterating the homes of endangered animals like orangutans, pygmy elephants and Sumatran tigers. The report, released Thursday by Friends of the Earth,...

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