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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Malaysia palm oil firm denies breaching Indonesia’s forest ban

Posted on 21 June 2011

Malaysian palm oil firm Kuala Lumpur Kepong (KLK) denied on Monday it had breached Indonesia’s two-year forest clearing ban on the first day it was signed to law, calling the allegation by an environmental group “preposterous”. KLK is a part of the $550 billion portfolio for a Norwegian sovereign wealth fund, which EIA and its Indonesian partner Telapak says has profited from deforestation.
But Malaysia’s third-largest listed planter said it stopped an “over eager” contractor from making an unauthorised clearing of a small logged over area that is a small part of one of its concessions in Borneo island……………………………………….Full Article: Source


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