The Green Party is calling on the ANZ bank to withdraw from the business of financing the destruction of tropical rainforests in Papua New Guinea.
"ANZ is banker and financier to Rimbunan Hijau, the Malaysian logging company deeply involved in the widespread destruction of tropical forests in Papua New Guinea and elsewhere. The release of the Greenpeace report yesterday showing that one of the most logged species, kwila, is highly endangered should prompt ANZ to do the right thing and withdraw from Rimbunan," says Russel Norman Green Party Co-Leader and Economics Spokesperson.
"The World Bank estimated in a 2006 report that 70% of the timber logged in Papua New Guinea is logged illegally. Rimbunan Hijau is the largest logging company in Papua New Guinea and the Australian Conservation Foundation, Greenpeace and others have found evidence of Rimbunan's deep involvement in this illegal and unsustainable forest destruction.
"ANZ should stop providing financial services to Rimbunan. Other banks such as Rabobank won't finance forestry companies that don't have Forest Stewardship Council approval, so I don't see why ANZ can't improve its environmental record and still make money.
"ANZ's Environmental Charter commits the company to "Integrating environmental considerations into the appraisal of customers' financing or advisory propositions ahead of credit approval, including specific measures to manage environmental considerations as a condition of doing business", but this doesn't seem to have any real effect on willingness to finance the destruction of tropical rainforest in PNG.
"It's time for ANZ to put their money where their mouth is."
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