Certain Banks are pouring Gasoline on the Climate Fire

Receipts are showing the numbers that in the past six years, close to sixty banks have contributed almost five trillion dollars into fossil fuel and such kind of financing is surely wrecking the ozone layer and the climate with greenhouse gas effects while violating indigenous rights and, above all, fueling forest fires all around the world. There is no doubt that banks have been literally pouring gasoline on the climate fire. If you want a specific example, Chase Manhattan is a primary one. They have poured money into Exxon by financing them and the figure is almost fifteen billion dollars. They have funded TC Energy with another twenty-three billion dollars. They have stuffed another five billion dollars down the throat of Gazprom of Russia. More than twenty-one months ago, all world leaders assembled for the United Nations’ Climate Conference in Glasgow, Scotland. Their main idea was to accelerate action on climate change deterioration. By March 2022, it has come to light that though several banks have made big commitments merely on paper, they went on and contributed seven hundred and forty two billion dollars into fossil fuels alone. Banks like Wells Fargo and J.P. Morgan Chase increased their financing for fossil fuel in the past year. This does not sound like an action from banks that care about the health of the planet’s climate. Whatever the case may be, time is running out to take meaningful action to slow down this climate change crisis as it has already been escalated by such irresponsible bankers who are only concerned about bringing in profits from fossil fuels being bankrolled, deforestation and abuse of human rights.

The Rainforests of Borneo are in danger of succumbing to the greed of big corporates

For the local Batak People of North Sumatra in Indonesia, land is their personal character. If they lose their land and their forests, they lose a part of themselves. That is the reason why the Pargamanan-Bintang Maria community and so many others like them are fighting for their forests, no matter whatever the cost. Criminal activities and encroachment by the local law enforcement authorities or violence from the growing paper and pulp business of TPL (Toba Pulp Lestari) have not made them stop in defending their forests. Procter & Gamble is trying to tell the whole world that their palm oil supply chain has nothing to do with TPL (that’s the company that’s expanding into Pargamanan-Bintang Maria’s forests) and is presenting itself as a sustainability leader, it could be hinting towards being a hoax. Procter & Gamble is trying to `green wash’ destruction of forests. It is time the common man who is interested in preserving the earth’s natural resources to tell Procter & Gamble that he is not fooled by the smoke and mirror strategies being used by this corporate giant. It is important to care and think about how the palm oil is being sourced and how its sourcing is being linked to indigenous people who are losing their lands faster than you can imagine. If Procter & Gamble cannot control their main suppliers, RGE (Royal Golden Eagle), then it is going to be a bad scenario for these indigenous people and the earth’s environment. This corporate company feels that it has a little secret and it is not just the women’s deodorant; it is the fact about being a violator of indigenous rights and also of being a deforester through its supplier. Royal Golden Eagle has become a major link between the biggest brands of Procter & Gamble such as Head & Shoulders, Olay and Crest. It is because RGE are tied to being involved in the theft of indigenous lands, promotion of child labour and clearance of the endangered Orangutan species’ habitat. Procter & Gamble and RGE combined have almost destroyed several rainforests in Borneo, Indonesia. These rainforests are one of the earth’s most important biomes and they are big enough to be seven times the size of New York City. The deforestation problem continues while Procter & Gamble are dodging these issues and busy reassuring their investors that the palm oil would continue to keep flowing from these rainforests. They are not bothered and continue in the quick and dirty business of dishing out palm oil. The only way that these corporate giants can be brought to their knees is by putting pressure from the caring masses. Awareness has to be brought to such people that they are killing the earth’s resources. Something has to be done to change the math for wicked decision makers in these big corporations. It is time someone pressurised Procter & Gamble to drop insensitive suppliers like Royal Golden Eagle.