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22 Jul 2019


HSBC response

...For soy, rubberwood and cattle ranching, HSBC will not knowingly provide financial services to high-risk customers involved directly in or sourcing from suppliers involved in: Deforestation, that is: the conversion of areas (often forests) necessary to protect HCVs; the conversion of primary tropical forests; or clearance by burning. Exploitation of people and communities, such as: harmful or exploitative child labour or forced labour; the violation of the rights of local communities, such as the principle of free, prior and informed consent; and operations where there is significant social conflict. This information is contained in our Agricultural Commodities Policy, available on our website. On forestry, we have had a policy in place since 2004, initially the Forest Land and Forest Products Sector Policy and now a stand-alone Forestry Policy, also available on the website.  This states that “HSBC will not knowingly provide financial services to customers involved directly, or indirectly via the supply chain, in: illegal logging; wood logged in violation of traditional and civil rights; wood logged in forests where high conservation values are threatened by industry; or forests being converted to plantation or to non-forest use (deforestation).”...