Allow me to introduce the problematic duo stalking the aisles of your favorite grocery store: Indofood and MUFG Bank.
MUFG is a global financial powerhouse from Japan and one of the world’s biggest financiers of climate change and Conflict Palm Oil.
It’s no wonder they’ve loaned over a quarter-billion dollars in the last five years to one of the biggest predators in Indonesia’s forests: Indofood.
Indofood operates palm oil plantations in Indonesia with a combined land area about the size of Delaware.
This Fiefdom of Misery has it all: A contract labor scheme that inflicts maximum poverty, union busting, exposure of workers to toxic chemicals, and clearing of intact rainforests.
Big brands know about Indofood — and stay away. Citigroup, Standard Chartered, PepsiCo, and eco-label the Roundtable on Sustainable Palm Oil (RSPO) all say Indofood is too hot to handle. MUFG has stuck around, despite a recent pledge to clean up their palm oil investments.
That's why we must tell MUFG: The time has long passed to drop Indofood.
How else can we even begin to take their pledges seriously?
In solidarity,
Toyoyuki Kawakami
Japan Representative
Rainforest Action Network
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