Tag: Global Witness

Major banks providing billions in “sustainable” loans to deforestation-linked companies

Stuart Mitchell

Global Witness found companies linked to deforestation and human rights violations are still able to access “sustainability-linked” loans, raising serious questions for ESG investors and government regulators Key findings Over 100 banks arranged $31 billion in sustainability-linked loans to palm oil companies despite firms’ alleged links to deforestation Standard Chartered and HSBC amongst major banks who together provided half a billion dollars in “sustainability-linked loans” (SLLs) to major palm oil producers Wilmar and Musim Mas, as they faced allegations of corruption and deforestation  Data suggests that palm oil producer Wilmar could be linked to 4,200 hectares of deforestation – an area the size of 6000 football pitches – between 2016-2024, despite introduction of “no deforestation” policy Spanning that period (2018 –2024), Wilmar received $950 million…

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European Parliament guilty of ‘historic environmental betrayal’

Stuart Mitchell

The European Parliament’s decision to weaken two flagship sustainability laws is a reckless assault on protections for forests, frontline communities and future generations, Global Witness said recently. After months of successive delays, the EU is taking an axe to the EU Deforestation Regulation (EUDR) and the Corporate Sustainability Due Diligence Directive (CSDDD) – just before they were meant to deliver real protection for forests, people and the climate. Campaigners said that instead of focusing on effective implementation, EU institutions have chosen to reopen and dilute legislation that was already agreed,…

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New research suggests majority of Europeans favour human rights and environmental protection in face of EU rollback

Stuart Mitchell

New polling by Ipsos reveals that a large majority of people (75%) across 10 European countries think it is important that the European Union (EU) uphold its own environmental laws. The new survey of 10,861 people – commissioned jointly by Amnesty International and Global Witness – also found that around three-quarters of respondents said large companies should be held accountable for human rights (75%) and environmental harm (77%) across their global value chains. The findings come at a time when the EU is considering drastically weakening environmental and human rights…

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Global Witness welcomes four new board members

Stuart Mitchell

Investigative campaigning organisation Global Witness is adding a wealth of new experience to its board of non-executive directors by welcoming four new members. Joining the organisation’s board with immediate effect is climate justice activist Vanessa Nakate, climate leader Rachel Owens, philanthropic advisor and entrepreneur Olaf Hahn and independent consultant and human rights advocate Oliver Hudson. Bios for the new board members can be found below. Mike Davis, Global Witness CEO said: “Global Witness is proud to welcome such a wealth of experience to its board in these four new members.…

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World’s major asset managers shoot down biodiversity resolutions despite soaring investor interest

Stuart Mitchell

Investors filed a record number of biodiversity resolutions in 2024, a new Global Witness analysis reveals – yet none passed*, and all received low levels of support overall. This is largely thanks to US-based asset managers BlackRock, Vanguard and State Street Global Advisors (SSSA), who were found to have opposed the majority of the biodiversity and deforestation-related resolutions put forward by other shareholders. Published today, the new findings come amid growing concern for nature and biodiversity, with the world losing the equivalent of almost 10 football fields of forest per…

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