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Global Witness estimates that financial institutions in the EU, UK, US, and China generated $1.74 billion in weighted revenues from $157 billion in deals with 20 major agro-industrial companies linked to deforestation between 2016 and 2020. The report highlights a systemic failure of voluntary commitments, noting that major banks like JPMorgan, HSBC, and BNP Paribas continue to fund companies involved in illegal land conversion and human rights abuses in the Amazon, Southeast Asia, and Africa. It argues that these profits should be viewed as a 'forest debt' owed to affected communities and calls for mandatory government regulation to replace ineffective voluntary policies.

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  • Between 2016 and 2020, financial institutions based in the EU, UK, US, and China entered into financial agreements totaling $157 billion with companies accused of destroying tropical forests, generating an estimated $1.74 billion in weighted interests, dividends, and fees.
  • JPMorgan is identified as the largest lender to deforestation actors among investors in the US, EU, UK, and China, with agreements estimated at approximately $9.38 billion.
  • Financial institutions in European regions (EU and UK) generated more weighted revenues from these investments ($646 million) than those in the US ($538 million) and China ($554 million).
  • HSBC is the largest UK financier of destructive agro-industrial companies, with $6.85 billion in contracts and an estimated $36.4 million in weighted revenues, despite a 2017 public commitment to stop financing companies accused of deforestation.
  • BNP Paribas generated an estimated $37.3 million in weighted revenues from deals since 2016, including significant relations with Cargill, which is linked to the destruction of the Brazilian Cerrado.
  • Rabobank generated an estimated $76.2 million in weighted revenues, with significant funding provided to the Sinar Mas Group and the Salim Group, both linked to extensive deforestation in Indonesia.
  • Bank of China generated an estimated $111 million in weighted revenues, with major funding for the Royal Golden Eagle (RGE) group and COFCO, the latter of which is linked to deforestation in the Brazilian Amazon and Cerrado.
  • The report argues that voluntary corporate policies are ineffective and that governments in major financial hubs must implement mandatory regulations to stop financial institutions from profiting from deforestation.
  • The report highlights a precedent in 2020 where the Australian bank ANZ agreed to return revenues from a $40 million loan to victims of land grabbing in Cambodia.

Cite the original document

APA
Robertson, C., & Bryan, K. (n.d.). Les dividendes de la déforestation. Global Witness. https://globalwitness.org/fr/campaigns/forests/les-dividendes-de-la-deforestation/
Chicago
Robertson, Colin, and Kenza Bryan. Les dividendes de la déforestation. Global Witness, n.d. https://globalwitness.org/fr/campaigns/forests/les-dividendes-de-la-deforestation/.
Wikipedia
{{cite report |last1=Robertson |first1=Colin |last2=Bryan |first2=Kenza |title=Les dividendes de la déforestation |publisher=Global Witness |url=https://globalwitness.org/fr/campaigns/forests/les-dividendes-de-la-deforestation/ |access-date=23 October 2026 |via=Climate Insights Directory}}
BibTeX
@techreport{robertsonndles, author = {Robertson, Colin and Bryan, Kenza}, title = {{Les dividendes de la déforestation}}, institution = {Global Witness}, url = {https://globalwitness.org/fr/campaigns/forests/les-dividendes-de-la-deforestation/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }

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