Indonesia: Dutch national pension fund divests from Korean firm Posco Daewoo due to forest destruction for palm oil operations

Author: Mongabay, Published on: 9 July 2018

"Dutch pension fund divests from Posco Daewoo over deforestation in Indonesia," 25 June 2018

Dutch national pension fund APB is divesting 300,000 euros ($351,000) from Korean firm Posco Daewoo over deforestation in Indonesia’s easternmost Papua province.

The announcement by ABP follows a series of media reports in the Netherlands about forest destruction by PT Bio Inti Agrindo, an oil palm plantation company owned by Posco Daewoo.

The land PT Bio Inti Agrindo has been licensed to develop by the Indonesian government overlaps with a WWF Global Ecoregion home to 344 registered bird and 69 mammal species, some of which are endangered and endemic to the area.

PT Bio Inti Agrindo has cleared more than 200 square kilometers (77 square miles) of forest in Papua since 2013, according to a report released by think tank the World Resources Institute...

 

 

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Related companies: Daewoo International (part of Posco) PT Bio Inti Agrindo Stitching Pensioenfonds ABP