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Full report - "Silent Approval: The role of banks linked to the crisis faced by Borneo's indigenous peoples and their forests"
Author: Fair Finance Guide Sweden & Swedwatch, Published on: 11 April 2017
17 Mar 2017
…The destruction of Borneo’s forests has been referred to as one of the greatest environmental crimes of our time. The forest destruction and the dispossession of land from its traditional owners has resulted in a far-reaching human rights disaster. The report Silent Approval is based on an extensive field study in Borneo, which examines the impacts of four companies on indigenous peoples’ rights and links to seven Scandinavian banks. The results of the study show that all the banks invest in several of the companies and that the banks have not acted responsibly. Some of the companies were also included in the ethical funds of the banks.
The report outlines the investments of the Scandinavian banks Danske Bank, Handelsbanken, Länsförsäkringar, Nordea, SEB, Skandia and Swedbank in four companies associated with risks and impacts on indigenous peoples and their forests in Borneo. The report shows that the banks are investing hundreds of millions of dollars in the companies, and that none of them have taken appropriate action…