Rainforest Action Network April 26, 2016
Jakarta, Indonesia - A broad international coalition of over 70 civil society organizations, including Transformasi untuk Keadilan Indonesia (TuK INDONESIA), Walhi (Friends of the Earth Indonesia), Rainforest Action Network and the Sierra Club is calling on financial regulators in Indonesia, Malaysia, Singapore, Japan, China, Europe and the United States to apply emergency sanctions on major commercial banks, in an effort to cut funding from companies identified as causing the forest fire crisis that annually chokes much of Southeast Asia. A joint letter will be sent to over 50 international organizations, including to some of the world’s top bank CEOs and financial services regulators. Click to read
In June 2014, Sahabat Alam Malaysia called on the Malaysian Government to address the negative impacts and unethical practices of its overseas or outward foreign direct investment (OFDI) in the past few years. Although the outflow of Malaysian investments abroad have been more than the inflow of investments into the country, serious concerns have arisen in relation to the impact of the palm oil industry in particular.