BANKS DODGY DEALS CAMPAIGNS
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate
Banks and Human Rights
Banks and Nature
Our projects
Tracking the NZBA
Banks and Russia
Banks and Steel
Tracking the Equator Principles
Tracking the PRBs
Find a Better Bank
Banks and the OECD Guidelines
Media
News Publications Events calendar
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Get in touch
Successes Contact BankTrack
Donate Mailing list Facebook Twitter Linkedin Login
Home › Partner news ›
Partner News

Citigroup cancels financing of Indonesian food giant Indofood over palm oil labor abuses

2019-06-18
By: Rainforest Action Network
Plantation from Indofood in Riau, Indonesia. Photo: Milieudefensie/Myrthe Verwey
2019-06-18
By: Rainforest Action Network

Citigroup has canceled all financing to Indonesian food giant and agribusiness company Indofood (INDF:IJ) following the company’s ousting from the leading palm oil certification scheme, the Roundtable on Sustainable Palm Oil (RSPO). Indofood’s palm oil subsidiaries were dropped from the RSPO after failing to address over 20 violations of the RSPO standard, as well as 10 violations of Indonesian labor law, both of which were found on Indofood-owned palm oil plantations. Citigroup’s cancellation of $140 million represents the loss of Indofood’s second largest source of funds from a Western bank. However, major Japanese, Indonesian, and European banks, as well as US brands such as Pepsico, continue to do business with Indofood. Read more.

Banks

Citi

United States
Active
Dodgy Deals
There are no active company profiles for this item now.

Indofood

Indonesia
Company
on record
Agriculture for Palm Oil

Indofood

Indonesia
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate Banks and Human Rights Banks and Nature
Our projects
Tracking the NZBA Banks and Russia Banks and Steel Tracking the Equator Principles Tracking the PRBs Find a Better Bank Banks and the OECD Guidelines
Media
News Publications Events calendar
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Get in touch
Successes Contact BankTrack
Nijmegen
The Netherlands
Contact us
Donate Mailing list Facebook Twitter Linkedin
© BankTrack
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted