Report points out rights, climate, biodiversity risks investors & financiers face in Southeast Asia’s tropical forest sector

RAN-investor-report-cover

Business & Human Rights Resource Centre invited the companies highlighted in the report to respond. Responses from Itochu, Marubeni, Mizuno, Oji and Wilmar are available below.

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Article
6 June 2017

Every Investor Has A Responsibility: Forests & Finance Dossier

Author: Rainforest Action Network

25 Apr 2017

…The Dossier compiles evidence of numerous harmful activities of 8 companies: Felda Global Ventures, IOI, Indofood Sukses Makmur, Wilmar, Asia Pulp and Paper, Oji Holdings, Marubeni, and Itochu…

Banks and investors share a responsibility for contributing to these adverse impacts, which were enabled through a combined 28.56 billion USD in loans and underwriting since 2010 and at least an additional 6.56 billion USD in share- and bondholdings in the 8 companies (at their group level), as of the most recent filing date...

The findings raise serious concerns about continuing gaps in the financial sector's social and environmental safeguard policies and related due diligence procedures for forest-risk sectors including palm oil, tropical timber, pulp and paper, and rubber…

[Business & Human Rights Resource Centre invited the companies highlighted in the report to respond. Responses from Itochu, Marubeni, Mizuno, Oji and Wilmar are available below. Felda Global Ventures, IOI, Indofood, and Asia Pulp and Paper have not responded. We will add responses to this page as we receive them.]

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Company response
6 June 2017

Wilmar response

Author: Wilmar

...Wilmar’s approach to responsible palm oil production and supply chain management is guided by our No Deforestation, No Peat and No Exploitation (NDPE) Policy. We always maintain an open dialogue with non-profit organisations to understand their views and expectations on complex sustainability challenges, and seek to collaboratively find solutions. RAN is no exception. We have engaged with RAN on several occasions to discuss these challenges as well as how we can work together in a constructive manner that will result in meaningful and lasting change in the palm oil industry...

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Company response
5 June 2017

Itochu response

Author: Itochu

...ITOCHU and its consolidated subsidiaries which handle Forest products will work to ensure the traceability of Forest products and procurement based on the following policies.
1.Support expansion of reliable forest management certification systems and give priority to Forest products with reliable certifications.
2.Production and manufacture of Forest products shall not impose an excessive environmental burden on High Conservation Value Forest.
3.Forest products and their materials shall have been produced (or logged) through appropriate procedures by following the laws and regulations of the area where the raw material is produced.
4.Forest products shall not be procured from any suppliers who contribute to serious environmental or social problems, such as the destruction of High Conservation Value Forest...

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Company response
5 June 2017

Oji response

Author: Oji Group

...We have formulated the Oji Group Partnership Procurement Policy, effective April 1, 2007. The policy is designed to ensure that CSR procurement is implemented when sourcing all raw materials used by the Oji Group, and it calls for cooperation from suppliers and other business partners. Under the policy, the Group will ensure that procurement of raw materials is in compliance with laws, while embarking on initiatives to verify the environmental and social impact of all procurement practices...

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Article
18 May 2017

Marubeni response

Author: Marubeni

...We take the claims of NGO/NPOs seriously and aim to include them within our reviews. We also have a sustainability team which specializes in ESG matters and provides centralized responses.

The Marubeni Group pays attention to human rights in all its business activities according to the human rights section within the “Marubeni Group Compliance
Manual”. This year we will conduct our annual revision of the manual to further strengthen its contents...

MHP continues to exist in harmony with local communities based on the collaboration programme to hold the boundary line as an obligation of the licensee. We will
maintain the preservation of the Highly Conservation Value Forest (HCVF) with reference to the Marubeni Group Environmental Policy and in line with MHP’s
Environmental Policy...

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Article
1 May 2017

Mizuho response [in Japanese]

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