New Evidence Questions the Credibility of Multi-billion Dollar “Sustainable Finance” Deals Arranged by Japanese Megabank MUFG
As Billions in finance have flowed to the Royal Golden Eagle Group, deforestation connected to the giant conglomerate continued August 27, 2024 – San Francisco, CA – Today, Rainforest Action…
Royal Golden Eagle Group Receives Billions in Sustainability Loans Amid Ongoing Links to Deforestation Across its Business
Royal Golden Eagle has received $4.25 billion in “sustainability linked loans” since 2021, with Japanese megabank Mitsubishi UFJ Financial Group (MUFG) playing a key role. This green finance purports to incentivize “zero tolerance for deforestation” and “radical traceability and transparency,” among other headline goals, but regulators have expressed concerns around greenwashing.
Massive Deforestation and Accountability Issues Remain at Royal Golden Eagle Group
A pulpwood concession linked to the Royal Golden Eagle group cleared 2,200 hectares of forested peatlands in April and May 2024 amid conflict with an Indigenous Dayak community.
PT. Toba Pulp Lestari: A Corporate Repeat Offender
424 hectares of natural forest were cleared within PT. Toba Pulp Lestari’s concessions after the introduction of RGE’s “no deforestation” policy in 2015.
Massive Deforestation in Borneo Destroying Orangutan Habitat
Destruction Calls into Question “Zero-Deforestation” Commitment of World’s Largest Viscose Producer Jakarta, March 18, 2024 – Today, a coalition of leading environmental organizations have released the report Deforestation Anonymous that sheds…
New Report Exposes Royal Golden Eagle Group’s Environmental Violations and Calls for Brands and Banks to Drop Ties
Web of shadow companies controlled by RGE allows billionaire tycoon Sukanto Tanoto to avoid accountability for forest destruction and community conflicts over Indigenous land rights San Francisco, CA – March…
Exposing Royal Golden Eagle Group’s Sprawling Empire of Destruction
Despite corporate promises to stop driving deforestation, global household brands and banks are failing to ensure that they stop doing business with companies that are driving deforestation and rights abuses in their operations and supply chains in Indonesia. One of the clearest examples is the failure of major brands like Procter & Gamble, Mondelēz, Colgate-Palmolive, Unilever, Kao and banks like Mitsubishi UFJ Financial Group (MUFG) to break ties with the Royal Golden Eagle Group (RGE).
Nestlé’s New Sourcing Policy Falls Short On Ambition Needed to End Deforestation
Rainforest Action Network Responds to Nestlé’s Responsible Sourcing Core Requirements. San Francisco –– Amidst an ongoing climate crisis fueled in part by commodity production, consumer goods giant Nestlé recently released…