Widespread land clearing in a Korindo-owned PT Papua Agro Lestari concession in Papua, Indonesia. Image: Mighty
This month BNP Paribas, the world’s seventh-largest financial institution, announced a new palm oil policy that sets responsible palm oil production as a pre-condition for financing. The policy requires that companies receiving financing protect forests and indigenous people.
It also requires companies to adhere to strict human rights and labor standards, end the use of hazardous pesticides, and reduce greenhouse gas emissions, among other significant measures.
This policy is a breakthrough in forest-fr
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