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Article

26 Feb 2015

Author:
Greenpeace

Santander stops financing forest destroyer APRIL

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...Santander just pledged to stop financing the paper company APRIL. Santander has agreed that APRIL will get no more money until it stops destroying the Indonesian rainforest. After receiving thousands of queries and complaints, the bank today announced 'Banco Santander has decided to not renew the current funding to APRIL and will not be extending further funding at this stage. Any future loans will be conditional on APRIL implementing new sustainability measures which address its involvement with deforestation.' ...[The] announcement sends a clear message to APRIL that its deforestation is unacceptable. It puts enormous pressure on other international banks with financial links to APRIL, including Credit Suisse and ABN Amro, to make similar commitments...