Wilmar International and its financiers

Wilmar International, a major global palm oil producer, is accused of systemic environmental and human rights violations despite its stated CSR strategy. The document details specific land-grabbing and deforestation cases in Indonesia, Nigeria, and Uganda, and lists the major banks and pension funds providing financial support. It highlights the gap between the ESG policies of these financiers and the reported actions of Wilmar, noting that the Norwegian Government Pension Fund Global divested from the company in 2012 due to sustainability concerns.

• Wilmar International was ranked by Newsweek in 2011 and 2012 as the world's worst company for environmental performance among the 500 largest publicly traded companies.
• The company's financial structure as of the end of 2012 relied on banks for 52.4% of its assets and shareholders for 34.2%. European and U.S. financial institutions managed or owned 4% of outstanding shares, valued at 621 million.
• In Indonesia, Wilmar and its subsidiaries faced three complaints via the IFC Compliance Advisor Ombudsman since 2007 regarding land clearing without community approvals, required permits, or Environmental Impact Assessments. A 2013 RSPO complaint alleged that subsidiary PT Mekar Bumi Andalas violated principles by building a processing unit in Balikpapan Bay, impacting proboscis monkeys, Irrawaddy dolphins, and coral reefs.
• In Nigeria's Cross River State, Wilmar is accused of violating the Land Use Act No. 6 of 1978 and the EIA Act CAP E12 by unlawfully acquiring forest land and deforesting thousands of hectares without an Environmental Impact Assessment. The company is alleged to have encroached on the Cross River National Park and the Ekinta forest reserve.
• In Uganda, Wilmar's expansion violated the National Environmental Act 1988 by failing to maintain a 200-metre buffer zone between plantations and Lake Victoria, and breached the Ugandan Constitution and Land Acquisition Act regarding compulsory land acquisition.
• Major financial backers include HSBC, which provided 921 million in loans since 2009, BNP Paribas with 241 million in loans, and Rabobank with 222 million in loans since 2009.
• The Norwegian Government Pension Fund Global (GPFG) divested from Wilmar and 22 other palm oil companies in 2012 due to unsustainable production.

APA

Friends of the Earth International (2013). Wilmar International and its financiers. https://www.foei.org/wp-content/uploads/2020/12/Wilmar-International-and-its-Financiers.pdf

Chicago

Friends of the Earth International. Wilmar International and its financiers. 2013. https://www.foei.org/wp-content/uploads/2020/12/Wilmar-International-and-its-Financiers.pdf.

Wikipedia

{{cite report |author=Friends of the Earth International |title=Wilmar International and its financiers |date=May 2013 |url=https://www.foei.org/wp-content/uploads/2020/12/Wilmar-International-and-its-Financiers.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{friendsoftheearthinternational2013wilmar, author = {{Friends of the Earth International}}, title = {{Wilmar International and its financiers}}, institution = {Friends of the Earth International}, year = {2013}, month = may, url = {https://www.foei.org/wp-content/uploads/2020/12/Wilmar-International-and-its-Financiers.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }