5 Nov 2019

Call for Malaysian banks to help stop deforestation in PNG

From , 6:03 am on 5 November 2019

Malaysian banks have been urged to apply more regulations on finance for forest clearance in Papua New Guinea.

Environmental justice NGO Global Witness has released a new report into international financing of deforestation.

It says six companies associated with destruction of the world's main forests received $US44 billion in finance over the past six years.

Malaysian financial institutions have been identified as major backers of logging and oil palm activities in PNG.

A policy advisor with Global Witness, Lela Stanley, told Johnny Blades why the NGO sees this as problematic.

Landowners walking along a logging road in an illegally logged forest, Metamin area, New Hanover, PNG.

Landowners walking along a logging road in an illegally logged forest, Metamin area, New Hanover, PNG. Photo: Global Witness Media Hub

Meanwhile, Rimbunan Hijau has denied that its operations in PNG have infringed landowner rights.