India, Aug. 13 -- Global Witness reports that over 100 major banks arranged about US$31 billion in sustainability-linked loans for palm oil firms tied to deforestation, corruption and rights abuses in Indonesia.

The investigation highlights Wilmar, Musim Mas and others, arguing weak standards in sustainability-linked finance let high-risk companies secure funding and ESG branding despite ongoing environmental and social controversies.

Major international banks provided billions of dollars in sustainability-linked loan deals (SLLs) to palm oil companies despite links to deforestation, corruption and human rights violations in Indonesia, according to a new investigation by Global Witness, an investigative, campaigning organisation.

The f...