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en/cameroon-report-raises-concerns-that-herakles-capitals-palm-oil-plantation-will-displace-local-farmers-destroy-livelihoods#c67735

Report Assails Palm Oil Project in Cameroon

Author: Elisabeth Rosenthal, Green blog, New York Times, Published on: 5 September 2012

Today environmental groups and forestry experts are abuzz about a project in nearby Cameroon that is overseen by Herakles Farms, an affiliate of the New York-based company Herakles Capital that pursues agricultural initiatives in Africa. The company has acquired a huge tract of land in southwestern Cameroon under long-term lease and plans to develop one of the world’s largest palm oil plantations there...Although Herakles had promised sustainable development..., several environmental groups, including W.W.F., have filed complaints with the Roundtable [for Sustainable Palm Oil] about practices related to the palm oil project. A new report released by Greenpeace and the Oakland Institute...details numerous problems. The...99-year land lease is of questionable legal status, the groups’ researchers say. The report also asserts that the project was vehemently opposed by many of the people who live in the region...The Roundtable...announced on Tuesday that Herakles had withdrawn from the sustainability program.

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Related companies: Blackstone Herakles Capital Herakles Farms (part of Herakles Capital)