How the World Bank and HSBC are investing in deforestation

Back in April, at the World Bank's spring meeting, there was much talk about the plight of the Congo rainforest. Greenpeace had just published a big report detailing how in the Democratic Republic of Congo (DRC) logging titles were being granted in breach of a moratorium that the bank had been instrumental in establishing. The report launch was so high profile, Greenpeace were able to force DRC's rainforest high onto the agenda of the World Bank meeting and have also managed to secure another session at the upcoming autumn meeting. Given this, you might be surprised to learn that the World Bank is investing in a company that is dealing in illegal timber from the rainforest and has also obtained land in breach of the country's moratorium. But that's exactly what's happening.