Several banks and other financial institutions around the world have been warned on last 6 November to avoid investments in pulp and paper mills associated with deforestation and human rights abuses in Indonesia.
Sixty environmental and social non-governmental organisations, including a dozen Indonesian civil society groups, have sent letters asking for assurances that the financial institutions will not invest in increased pulp milling capacity by Asia Pulp and Paper (APP) or other companies associated with the Sinar Mas Group until reforms have been achieved.
Three representatives from Indonesian social and environmental NGOs that are signatories to the letter will meet with investors, governments, NGOs and media in eight European countries. They will present information on the social and environmental impacts of APP and other Indonesian pulp and paper manufacturers.
The open letter is published on the European Environmental Paper Network (EEPN)’s website: http://www.environmentalpaper.eu/wp-content/uploads/2012/11/Bank_letter_on_pulp_investment.pdf