BankTrack News
Deutsche Bank divests from Bumitama
2014 |
BankTrack
2014 |
BankTrack
Deutsche Bank has told Friends of the Earth Europe and Rettet den Regenwald that it sold its shares in the Indonesian palm oil supplier Bumitama, an important supplier to palm oil giant Wilmar, following months of campaigning by the two groups. Despite numerous promises to clean up its act, Bumitama continues to produce illegal palm oil. Bumitama supplies palm oil to one of the largest global traders in palm oil, Wilmar International, and received financial support from well-known European banks including HSBC, Deutsche Bank and Rabobank. Read more.