SINGAPORE, Sept. 3, 2010 - Greenpeace today called on potential investors to avoid financing Golden Agri-resources (GAR), the Sinar Mas Group’s palm oil arm, which plans to expand into Liberia.
The environmental organisation has repeatedly exposed the Sinar Mas Group for illegally clearing forests and peatlands in Indonesia – a fact that has been confirmed by two independent auditors.
In August, Greenpeace sent a letter to the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) alleging that the company tried to manipulate the market by misrepresenting the findings of the audit.
“Multinational corporations such as Burger King, Unilever, Kraft and Nestle have cancelled contracts with the Sinar Mas Group and global financial institutions, such as HSBC, are disinvesting in them.
We urge investors not to finance any expansion plans by the Sinar Mas Group until it stops destroying Indonesia’s forest and carbon-rich peatlands,” said Greenpeace Indonesia forest team leader, Bustar Maitar.
Website: www.greenpeace.org
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