Blasting off mountaintops to reach coal in Appalachia or churning out millions of tons of carbon dioxide to extract oil from sand in Alberta are among environmentalists’ biggest industrial irritants. But they are also legal and lucrative.
Environmentalists on Friday criticized a decision by agribusiness giant Cargill Inc to continue buying palm oil from Indonesian firm PT Smart Tbk after SMART received a mixed score in a green audit.
Greenpeace has alleged in its reports that SMART -- which is controlled by Indonesia's Widjaja family, owners of the Sinar Mas conglomerate -- cleared forests in Kalimantan without completing the proper paperwork and destroyed carbon-rich peatlands.
“We’re the greenest bank in the business,” claims Pittsburgh, Pennsylvania-based PNC bank (PNC:US) on its web site. “We’re a company committed to lighting the path to a greener way of doing business and a greener way of life.”
San Francisco – In the wake of an audit confirming accusations of environmental abuses by the controversial Indonesian palm oil supplier Sinar Mas, Cargill has announced a decision to continue business as usual relations with the disgraced palm oil provider. Posted only as an update to a section of their website, Cargill’s decision is an unexpected step after months of public expectation that the company would sever ties with the large Indonesian palm oil producer.
SAN FRANCISCO—Within the last two years, Bank of America, Citi, JPMorgan Chase, and Wells Fargo along with Credit Suisse and Morgan Stanley have successively passed public policies limiting their financial relationships with coal operators that practice mountaintop removal (MTR) coal mining. These banks were the lead financiers of the practice prior to their policy shifts. Last month, Wells Fargo became the fourth top US bank to adopt a position limiting MTR financing.
San Francisco – Today, major palm oil trader Cargill announced a new agreement to provide Unilever with palm oil that is certified as segregated “at every step of the supply chain.” Both Unilever and Cargill are members of the Roundtable on Sustainable Palm Oil (RSPO).
Houston, TX – As a judgment looms in a monumental 17-year legal battle over oil contamination in Ecuador, affected communities and their allies are challenging Chevron’s Board of Directors to intervene in the company’s dead-end strategy of covering up its massive liability
The corporate annual report - that glossy, seldom-read staple of the business world - usually features upbeat words and images showcasing a company's stellar year.
The "True Cost of Chevron" alternative annual report, in contrast, features a cover photo of an oil spill.
Released Wednesday by a coalition of Chevron Corp.'s fiercest critics, the report pillories the San Ramon oil company for pollution and alleged human rights abuses around the globe, in places as disparate as Ecuador, Burma, Texas and Richmond.