Rabobank the first corporate Green Taliban? surprise surprise, more hypocrisy

Weak spined Rabobank HQ in the Netherlands is caving in to the loons:

Global agribusiness financer Rabobank is so alarmed about the threat posed to the planet by fracking it’s announced it will not finance businesses involved in the practice.

But Rabobank’s Oceania office says it won’t be stopping business with farmers who allow fracking on their land.

Fracking is the process where fluid containing sand and chemicals is injected at high pressure to fracture rock in order to access previously inaccessible oil and gas from the earth’s crust.

The practice is widespread in Taranaki and the Parliamentary Commissioner for the Environment says New Zealand is on the brink of a rapid expansion of fracking.

Rabobank Group which has its headquarters in the Netherlands says it will not provide finance to anyone involved in extracting unconventional fossil fuels such as oil shales through fracking.

It says it’s worried about the impact oil and gas production is having on people, wildlife and the environment and has vital concerns about the release of greenhouse gases and their warming of the planet.

Rabobank says the importance of prime agricultural land in meeting global food demand is simply too important to lose to fracking.

But the bank’s Oceania-wing told Radio New Zealand that numerous international media reports that it will stop doing business with farmers who allow fracking on their land are incorrect.

And of course dear RFC is lapping it up like a cat rat at a saucer albeit prematurely:

Green Party energy spokesperson Gareth Hughes (RFC) says Rabobank’s move shows fracking can have a big impact on agriculture.

He says it’s a bold move by the global investment company which shows it is focusing on its core area which is farming.

“It does highlight there is conflict and in fact a risk to the agricultural sector from the expansion of oil and gas.”

Mr Hughes says Rabobank is responding to overseas pressure and given that New Zealand is potentially on the cusp of major expansion in the areas of oil, gas and fracking, it’s a wake-up call for farmers and Government. – Radio NZ

Not even a corporate like Rabobank will be able to interfere with extracting natural resources, they will be simply nailing one of their own feet to the floor and get left behind as the oil & gas industry powers ahead without them. At least the Oceania office has some sense and is ploughing ahead regardless.

Interestingly enough I didn’t have to do much digging to uncover more sickening rank hypocrisy about Rabobank, they aren’t quite the moral police they’d have you believe:

The palm oil industry has attempted to market the trade as environmentally and socially sustainable,
but this report exposes these policies as hollow and inadequate. Singapore-based multinational
Wilmar is a member of the industry-led Round Table on Sustainable Palm Oil (RSPO) and is funded by
the World Bank’s private arm as well as private European banks which have codes of conduct against
unsustainable palm oil. Rabobank and Standard Chartered Bank are the main European financers.
Anne van Schaik of Friends of the Earth Netherlands said: “Rabobank apparently has a code of
conduct for financing palm oil, but absurdly this doesn’t apply to the handful of general loans that the bank gives to Wilmar. The code of conduct is therefore meaningless – boosting Rabobank’s image but doing nothing to protect against illegal deforestation.”
Milieudefensie and two Indonesian non-profit organisations investigated? three plantations of
Wilmar International Ltd. on West Kalimantan, Indonesia. Specifically, the report reveals:
The Indonesian authorities are suing Wilmar for intentional and systematic illegal burning of forests to clear land for plantations. – source

Will they do the same thing with fracking? slap an anti fracking policy into their financing, and still filter through funds directly or indirectly via a proxy.

I wonder if RFC* knows about Rabobank financing one of the largest palm oil producers to continue deforestation by way of burning? Interestingly the Green Taliban bitch and moan about farmers and dirty rivers, but all of a sudden concerned about the effect that the alleged fracking pollution might have on the agricultural industry….how caring all of a sudden. Farmers are too intelligent to be fooled by this political tactic to get votes, and most farmers I know have a deep hatred for RFC and the Green Taliban and will never vote their way.

Meanwhile: forests burn, and RFC is none the wiser.


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