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
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2023-01-23 00:00:00
Berta Cáceres: new rules for banks could help stop defender killings
2023-01-16 00:00:00
In the balance: Why European due diligence legislation must cover financial services
2022-12-08 00:00:00
Exposed: Western banks funding Qatar’s carbon bombs
2022-12-08 00:00:00
Right-wing attack on sustainable finance is the latest form of climate denial
2022-12-14 11:08:26
HSBC announces it will no longer finance new oil and gas fields
2022-10-13 15:56:39
More major banks and insurers refuse to support EACOP
2022-09-16 10:38:48
European Parliament passes emergency resolution against human rights violations & environmental threats linked to EACOP
2022-06-27 09:49:16
Crédit Agricole takes first step to phase out from the oil and gas sector
Connect
2022-11-22 00:00:00
Banking on Thin Ice: Two years in the heat
2022-11-17 00:00:00
BankTrack Global Human Rights Benchmark 2022
2022-10-21 00:00:00
Burning forests in the name of clean energy? How banks are failing to exclude the harmful wood biomass industry from finance
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
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
The Financial Sector and Japan's Corporate Governance Code
Start

By: Rainforest Action Network
2015-07-23

Contact:

Tom Picken, Senior Advisor, Forests & Finance, Rainforest Action Network: tpicken@ran.org


Share this page:

Go to:
Start

Most banks don't require proof that their clients in the tropical timber, palm oil or pulp and paper sectors have the legal right to clear forest. They don't require proof that the rights of affected Indigenous Peoples or other forest-dependent communities are respected. And they almost certainly won't make loans conditional on any robust environmental standards.

As absurd as it sounds, this is standard practice for banks with clients in the business of clearing tropical rainforests. With little more than a claim to a patch of forest, some collateral, and a list of willing clients to sell to, a company finds it all too easy to finance deforestation. RAN believes it's time to stop big banks from bankrolling forest destruction and associated human rights abuses.

One of the largest sources of loans to companies engaged in tropical deforestation is Japan's banking sector. But the tide may be turning. In June 2015, Japan's new Corporate Governance Code (the Code) came into effect, which requires Tokyo-listed companies, including Japan's major banks, to begin to disclose and address the range of environmental, social and governance problems they face.

RAN has produced guidance for Japan's financial institutions in translating this new policy into practice. Companies causing forest destruction and rights violations should not be bankrolled anymore. RAN is calling on all banks, including Japan's banking sector, to develop strong forest sector safeguard policies and systems so that only genuinely responsible forest sector clients can get bank loans.

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