Tag: rainforest

In a huge environmental and human rights victory, World Bank to stop giving palm oil loans

The International Finance Corporation (IFC), the private arm of the World Bank, has decided to suspend funding in the palm oil sector, affecting the world’s top producer, Wilmar International, pending a review of internal procedures on environmental and social standards…

A group of 19 environmental groups, plantation smallholders and local organizations representing indigenous people filed in 2007 a complaint to the IFC ombudsman over Wilmar’s business practices in Sumatra and Kalimantan.

Jakarta Post

The destruction of rainforests for palm oil plantations in the world’s tropical regions is one of the biggest environmental problems in the world.  This is a huge step forward, and one of the only bits of encouraging news ever received, for those who know of the destruction of palm oil and work against it.

Go below the fold for more detail and some background info.