Banks Lent $595 Billion to Companies Driving Tropical Deforestation
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
A research report found that banks have lent up to $595 billion since 2020 to companies contributing to tropical deforestation and ecosystem destruction. This funding included $351 billion for high-risk agricultural commodity firms and $244 billion for mining companies between 2020 and 2025. The report noted that banks provided $67.1 billion to Indonesia’s pulp and palm oil sectors since 2020.
From whtc.com
Why it matters
The report identifies agricultural and mining sectors as primary drivers of deforestation and land degradation across tropical forest basins in South America, Southeast Asia, and Central and West Africa. This high-risk financing accelerates environmental and social harm in these regions.
From whtc.com
Who's involved
- Southeast AsiaRegion where tropical forest basins are driving deforestation and financing is occurring.
- South AmericaContinent where tropical forest basins are driving deforestation and financing is occurring.
- AfricaContinent where tropical forest basins are cited as primary drivers of deforestation.
- SumatraLocation tied to Indonesian pulp and palm oil sector financing and deforestation.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AfricaSpeculative
The region might face increased costs related to environmental and social harm risks.
Keep exploring
The entities involved
-
Southeast Asia
south-eastern region of Asia
-
South America
continent located mainly in the southwestern quadrant of the Earth