We, the undersigned, urge Bank of America to set higher standards for its client companies that contribute to tropical deforestation.
Every year, Earth’s rainforests lose nearly 10 million hectares to deforestation, which worsens climate change and destroys wildlife habitat. The industries destroying them, primarily for soy, beef, palm oil and wood products, are financially supported by banks. JPMorgan Chase and Citigroup have recently developed new deforestation policies. By adopting equally strong requirements to reduce your clients’ negative impacts on rainforests, you can help prevent damage to these wild places.
Please improve your tropical deforestation policies by strengthening guidelines for clients involved in beef, soy, palm oil and wood products.