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‘Green’ finance bankrolls deforestation in Papua

Author: The Gecko Project

Date: 2023

Location: Array

Language: English

Type of resource: Report

Topics: Bioeconomy, Biomass finance, Forests and Biodiversity, Policy

​​Millions of dollars in green financing intended to help Indonesia reduce its carbon emissions have been invested in a project that is destroying rainforest in Papua, one of the world’s most biodiverse landscapes.

The money has been used to help an Indonesian conglomerate, Medco Group, construct a biomass power plant that is being fuelled by burning wood and now it is bulldozing rainforest in the nation’s Papua province. Medco Group has said it will clear 2,500 hectares (6,200 acres) of land to meet the demands of the plant, billed as a way to help the country kick its fossil fuel habit.

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Organization: The Gecko Project