DIRTY BANKERS

Recommendations

Info

September 2013, PT Nabire Baru: Sago grove clearance. ©yerisiam November 2014, PT Nabire Baru: A member of the Yerisiam people documents timber considered to have no economic value for the company, but which it uses to demarcate the plantation area in Wami, Yaur District. ©yerisiam 2014, PT Nabire Baru: Recent forest clearance in the Goodhope oil palm concession PT Nabire Baru, Papua. ©yerisiam 25 March 2016, PT Nabire Baru: Floods. ©yerisiam 25 March 2016, PT Nabire Baru: Floods. ©yerisiam 12 May 2016, PT Nabire Baru: Yerisiam youths protest land clearance within the concession. ©yerisiam 20 DIRTY BANKERS
Company: Group: Headquarters: Stocklisted: CURRENT KNOWN LINKS WITH HSBC FACILITY TOTAL VALUE VALUE OF HSBC BORROWER SIGNED HSBC ROLE(S) CONTRIBUTION Refinance / US$200m Undisclosed Goodhope Asia 19/03/2014 One of eight working capital loan Holdings Ltd lenders, bookrunner, arranger, collateral agent Refinance / US$150m Undisclosed Goodhope Asia 19/03/2014 One of eight working capital loan Holdings Ltd lenders, bookrunner, arranger, collateral agent Refinance / US$50m Undisclosed Goodhope Asia 19/03/2014 One of eight working capital Holdings Ltd lenders, bookrunner, revolving credit arranger, collateral agent TOTAL US$400m Undisclosed RSPO member: Yes 135 Annual and quarterly reports list HSBC Bank Malaysia Berhad as banker (2010–30/6/2016). 134 All loans should be covered by current HSBC policies (revised March 2014). Goodhope Asia Holdings Ltd Carson Cumberbatch PLC Sri Lanka (Goodhope Asia Holdings Ltd is incorporated in Singapore) Carson Cumberbatch is listed on the Colombo Stock Exchange (Sri Lanka) Goodhope is the palm oil plantations subsidiary of Carson Cumberbatch, a conglomerate that began as a 19th-century Sri Lankan coffee and rubber producer and now holds interests across Southeast Asia including hotels, real estate and breweries. 136 Carson Cumberbatch PLC holds a 53.3% stake in Goodhope Asia Holdings Ltd, with another Carson Cumberbatch Group company, Bukit Darah PLC, holding a 35.6% stake. Bukit Darah is a holding company which itself owns 45.7% of Carson Cumberbatch. 137 TIMELINE 2012 2013 2014 2015 2016 HSBC ENVIRONMENTAL POLICIES LOANS, BONDS AND SERVICES BREACHES OF HSBC POLICY RSPO COMPLAINTS BREACHES OF HSBC POLICY PT Nabire Baru concession, Papua • Deforestation for plantation development • Destruction of HCV forest • Plantation development on peat • Permit irregularities including development without an environmental impact assessment (AMDAL) • Exploitation: taking over indigenous land without free, prior and informed consent; state security forces repressing local opposition • Failure to meet timetables for RSPO certification (company level) !? OTHER BANKS LINKED TO GOODHOPE DIRTY BANKERS 21
Page 1 and 2: DIRTY BANKERS HOW IS FINANCING FORE
Page 3 and 4: CONTENTS PALM OIL: A RISK FOR THE E
Page 5 and 6: PALM OIL: A RISK FOR THE ENVIRONMEN
Page 7 and 8: HSBC Holdings plc, headquartered in
Page 9 and 10: BUMITAMA HSBC provided loans (as pa
Page 11 and 12: POLICY IMPLEMENTATION AND RESPONSIB
Page 13 and 14: without having filed New Planting P
Page 15 and 16: LEGAL PERMITS REQUIRED TO ESTABLISH
Page 17 and 18: S E I A PAPUA © Greenpeace © EIA
Page 19 and 20: Companies: Group: Headquarters: Sto
Page 21 and 22: April 2013, PT Ladang Sawit Mas: In
Page 23: The RSPO New Planting Procedure doc
Page 27 and 28: CASE STUDY: PT NABIRE BARU Location
Page 29 and 30: STATEMENTS PRODUCER COMPANY Prior t
Page 31 and 32: CURRENT KNOWN LINKS WITH HSBC Compa
Page 33 and 34: principles, with certification susp
Page 35 and 36: Company: Group: Headquarters: Stock
Page 37 and 38: CASE STUDY: PT HENRISON INTI PERSAD
Page 39 and 40: local communities. 298 It does note
Page 41 and 42: Company: Group: Headquarters: Stock
Page 43 and 44: CASE STUDY: PT BIO INTI AGRINDO Loc
Page 45 and 46: June 2016, PT Bio Inti Agrindo: 6º
Page 47 and 48: CURRENT KNOWN LINKS WITH HSBC LOANS
Page 49 and 50: Isuy Makmur Estate Pahu Estate Keda
Page 51 and 52: In February 2013 the NGO Centre for
Page 53 and 54: PT Gunta Samba (PT GS) and PT Gunta
Page 55 and 56: Commissioner of PT Indofood CBP Suk
Page 57 and 58: In February 2013, when the Centre f
Page 59 and 60: 18 September 2013, PT Ladang Sawit
Page 61 and 62: 15 May, 2012 Palm fruit ©greenpeac
Page 63 and 64: BANK POLICY REQUIREMENTS FOR PALM O
Page 65 and 66: the potential for greatest influenc
Page 67 and 68: 2013, East Kalimantan: A young oran
Page 69 and 70: kelapa sawit PT KBAS 1 dan KBAS 2 y
Page 71 and 72: terhadap kehidupan masyarakat adat
Page 73 and 74: DIRTY BANKERS 69
Page 75 and 76:
METHODOLOGY Mapping analysis: Mappi
Page 77 and 78:
15 July 2013, Manokwari: A tree in
Page 79 and 80:
savages HSBC’s Noble intentions
Page 81 and 82:
http://www.thisisnoble.com/corporat
Page 83 and 84:
16 July 2013, Manokwari: A black-ca
show all

DIRTY BANKERS

Create successful ePaper yourself

Delete template?

Save as template?