THE TRUE PRICE OF PALM OIL FROM PAPUA NEW GUINEA

On 7 October, Global Witness posted a report following an undercover investigation in PNG, saying that forests continue to be burned and destroyed at an alarming rate, and that the primary driver of deforestation is agribusiness, with palm oil a chief culprit.  The investigation implicates 3 of PNG’s newest palm oil producers in what appears to be serious criminality and other harms.  For the first time, the NGO shows how this tainted product is being sourced by world-famous brands and their business financed by iconic banks and investors.  It features bribed officials, including a Papua New Guinean government minister; Malaysian-backed companies which clear-felled tens of thousands of hectares of Papua New Guinean rainforest; tainted palm oil finding its ways into brands including Kellogg’s, Nestlé, Colgate, Danone, Hershey, and PZ Cussons and Reckitt Benckiser, the parent companies of Imperial Leather and Strepsils; and financiers such as BlackRock, the world’s largest asset manager, are indirectly profiting from these human rights and environmental abuses through investing in banks notorious for financing harmful palm oil firms.

https://www.globalwitness.org/en/campaigns/forests/true-price-palm-oil/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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