The untold story about the link between Dutch banks and industrial palm oil companies
The environmental and social problems in the industrial palm oil production are persistent as extensively documented over the last two decades by non-governmental organisations like Milieudefensie (Friends of the Earth Netherlands). In recent years, a growing body of research has also focused on the way these palm oil companies are financed.
This report uncovers a financial stream that has so far received little attention, namely how industrial palm oil production is financially underpinned by investment funds. For this report, SOMO examined the specific links between three Dutch banks (ABN AMRO, ING and Rabobank) and a selection of 81 palm oil companies and conglomerates, through the investment funds that these banks offer to individual customers.read more less