Banks play key role in environmental protection: WWF [News]

September 16, 2014 by  
Filed under News

By Linette Lim, Channel NewsAsia, 10 Sep 2014

The World Wide Fund for Nature (WWF) believes that banks can play an important role in the global push towards environmental protection. It said that financial institutions and investors hold the key to ensuring that fund flows are redirected to more sustainable causes.

Singapore experienced its worst haze crisis in history at roughly this time last year. The haze is caused by farmers in Indonesia, who use slash-and-burn methods to clear their land for the next planting season. To deter farmers from using slash-and-burn methods to clear land, the Indonesian government has resorted to naming and shaming the palm oil companies which are responsible.

However, WWF believes that more can be done and said that part of the solution may lie in the banks that finance those companies.

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Source: Channel NewsAsia

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