Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Join our Active Allies list
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2022-05-19 00:00:00
BNP Paribas and Société Générale: stop financing climate destruction and human rights abuses
2022-05-04 00:00:00
Barclays is big on beef and burning
2022-05-04 00:00:00
Standard Chartered’s 2022 AGM dominated by shareholder alarm over fossil financing
2022-05-02 00:00:00
Banco Santander takes a step on big oil, but what about big meat?
2022-05-20 15:14:47
Seven financiers abandon TotalEnergies' EACOP pipeline in a week
2021-12-16 13:33:02
Cambo oil field "paused" following pressure on Shell & banks
2021-12-16 13:04:42
Equator Principles improve transparency after BankTrack shows the way
2021-11-02 11:03:26
ANZ launches human rights grievance mechanism in a first for the global banking sector
Connect
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
2022-03-08 00:00:00
BankTrack Annual Report 2021
2022-03-03 00:00:00
Locked out of a Just Transition: fossil fuel financing in Africa
2021-12-14 00:00:00
Actions speak louder: Assessing bank responses to human rights violations
2021-10-26 00:00:00
Equator Compliant Climate Destruction: How banks finance fossil fuels under the Equator Principles
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Financiers of pulp and paper industry projects will cause environmental and social harm, says new report
Start
Banks

By: Mandy Haggith – Environmental Paper Network
2017-08-01

Contact:

Mandy Haggith, hag@environmentalpaper.eu, +44 7734235704


Share this page:

Photo: Environmental Paper Network
Go to:
Start
Related Banks

The Environmental Paper Network* (EPN) has published In the Red, an assessment of bank policies for financing pulp and paper companies. This assessment reveals that the banks most deeply involved in the pulp and paper sector do not have policies that are fit for purpose to avoid financing projects and companies that cause environmental and social harm.

The assessment studied how ready the financial sector is to manage the environmental and social risks of financial involvement with the pulp and paper industry. It is a benchmark assessment carried out by a team of researchers from several countries, which evaluates the pulp and paper policies of 42 private banks against the requirements set out in 2016 in Green Paper, Red Lines.

The Red Lines are environmental and social criteria, which articulate minimum requirements that pulp and paper companies must meet before investment in them is considered. Unless pulp and paper mills and their financiers fulfil these requirements, they are highly likely to cause unacceptable social and environmental harm and become the target of campaigns by civil society organisations.  Member organisations of EPN therefore expect financiers to stay clear if their client pulp and paper companies are unable to meet the minimum requirements.

Mandy Haggith, co-ordinator of the Environmental Paper Network’s pulp finance working group, said: “The results of our assessment reveal that bank policies are extremely disappointing. Unfortunately none of the banks we assessed manages to thoroughly protect itself from clients breaching the Red Lines. Indeed for most of the Red Lines, the vast bulk of banks are at best only partly protected. We can only conclude that the banking sector does not have policies that are fit for purpose to avoid irresponsible investment in damaging pulp and paper projects and companies. We urge all banks to review their policies for involvement in this sector.”

* EPN is a global network of more than 140 non-governmental organisations, focussing on pulp and paper sustainability issues, all of which endorse the Global Paper Vision. 

Download "In the Red: An Assessment of Bank Policies for Financing Pulp and Paper" here .

Go to:
Start
Related Banks

Related banks

ABN AMRO Netherlands

active

Agricultural Bank of China China

active

Banco Bradesco Brazil

active

Banco do Brasil Brazil

active

Banco Santander Spain

active

Bank of America United States

active

Bank of China China

active

Barclays United Kingdom

active

BNP Paribas France

active

BTG Pactual Brazil

active

Caixa Econômica Federal Brazil

active

Cathay United Bank Taiwan, Republic of China

active

China CITIC Bank China

active

China Construction Bank China

active

China Development Bank China

active

China Merchants Bank China

active

Citi United States

active

Commerzbank Germany

active

Credit Suisse Switzerland

active

Deutsche Bank Germany

active

Goldman Sachs United States

active

HSBC United Kingdom

active

Industrial and Commercial Bank of China (ICBC) China

active

Itaú-Unibanco Brazil

active

JPMorgan Chase United States

active

Mitsubishi UFJ Financial Group (MUFG) Japan

active

Mizuho Financial Group Japan

active

Morgan Stanley United States

active

NatWest Group United Kingdom

active

Ping An Bank China

active

Rabobank Netherlands

active

Scotiabank Canada

active

Sumitomo Mitsui Banking Corporation (SMBC) Japan

active

Wells Fargo United States

active

BNDES Brazil

on record

Wing Lung Bank Hong Kong

on record
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
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