Two environmental groups sent letters to 26 banks in several countries as attempt “to express their concerns regarding the pulp and paper companies Asia Pacific Resources Limited (APRIL), Toba Pulp Lestari (TPL) and their sister companies under the conglomerate Royal Golden Eagle Group (RGE), due to their involvement in large scale deforestation and social conflicts. The Environmental Paper Network and Banktrack have sent the letters to the banks asking assurance from them “that they are not currently investing in any of these companies, and that they will not do so until the RGE group ends its illegal and unsustainable environmental and social practices and achieves a performance consistent with the EPN Performance Milestones,” the organizations said.
“Research has demonstrated that these companies are involved in illegalities under Indonesian law, under Chinese banking regulations and under international norms,” the groups said. In fact, APRIL does not even respect its own Sustainable Forest Management Policy, which it adopted on January 28th, 2014. In the past six years, banks have invested at least USD 1.5 billion dollar in APRIL alone. The full letter is available here.