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" href="javascript:void(0);">About Profundo ">Profile

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">Team

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">Annual reports

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">Jobs

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" href="javascript:void(0);">Clients

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" href="javascript:void(0);">Projects

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" href="javascript:void(0);">Publicity

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Pulp & paper

The pulp and paper industry plays an important role concerning the mondial process of deforestation and the loss of biodiversity. To 'feed' the pulp industry, regularly biodiverse forests are being replaced for plantations with fastgrowing wood (such as eucalyptus), which causes scarcity in water as a consequence of the large consumption of water by these plantations. Local communities often have to make a way for such plantations and lose their food and income sources. Moreover many pulp companies are built without the guarantuee of a sufficient production of sustainable wood, wich stimulates the over-utilization of woods.

 

Profundo researches which companies within the paper industry contribute to the deforestation and social conflicts, and who finances them. Profundo also searches for marketing-possibilities for those companies who produce sustainable paper. Besides we research the role of government policy concerning the deforestation.

projects

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Tax evasion by Asia Pulp & Paper via the Netherlands
Asia Pulp & Paper (APP) is the joint brand name of a number of pulp and paper companies in Indonesia and China, which belong to the Sinar Mas Group of the Indonesian Widjaja family. APP is responsible for large scale, illegal logging of Indonesian forests. The last five years APP has been expanding its activities to Europe, Northern America, Asia and Australia. To avoid taxes, Dutch holding and financing companies play a crucial role in this foreign expansion process. This report documents this tax evasion structure and highlights a number of irregularities, which might involve legal offences.
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Dutch banks and foreign land acquisitions
Nearly all Dutch banks invest in companies that acquire land outside the EU and operate in high risk sectors such as agriculture, forestry and biofuels. Land acquisitions often cause the local community to be deprived of its land and resources. This research project for the Dutch Fair Bank Guide concludes that most banks do not enough to prevent this. Their policies must give more specific attention to possible human rights violations in connection to land acquisitions, by demanding from companies to apply the principle of Free, Prior and Informed Consent (FPIC).

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Fair Bank Guide, 11th update
The 10th update of the Fair Bank Guide judges the policies of the biggest Dutch banks with regard to the ten most important sustainabilityissues and eight sectors.

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Dutch clients of APP
In this report an attempt is made to find and provide information about the selling of pulp, paper and/or paper products by (subsidiaries of ) APP to Dutch clients.

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Fair Bank Guide, 10th update
The 10th update of the Fair Bank Guide judges the policies of the biggest Dutch banks with regard to the ten most important sustainabilityissues and eight sectors.

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The packaging industry and the global toy sector
This report contains research into the connections between the toy sector and the packaging industry, especially Asia Pulp & Paper.
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Fair Bank Guide, 9th update
The 9th update of the Fair Bank Guide judges the policies of the biggest Dutch banks with regard to the ten most important sustainabilityissues and eight sectors.

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Fair Bank Guide, 8th update
The 8th update of the Fair Bank Guide judges the policies of the biggest Dutch banks with regard to the ten most important sustainabilityissues and eight sectors. Since the 27th of January 2011 asset management has been included in the Fair Bank Guide.
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Ownership and Management of PAK 2000
PAK 2000 is an American manufacturer of luxury and specialty packaging for major brands and retailers worldwide, that was owned by Singaporean pulp and paper group Asia Pulp and Paper (APP) until October 2009. While APP announced that it has sold all its shares in PAK 2000, Profundo showed that the new owners, which operate through private companies based in the Netherlands and Singapore, have a strong connection to APP and that it is possible that the pulp and paper group still owns the company.

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The financing of the forest-related activities of the Sinar Mas Group
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Fair Bank Guide, 7th update
The Fair Bank Guide's 7th update evaluates today's policies of the largest Dutch banks concerning ten important CSR issues and eight sectors. With regard to the previous update the policies of SNS Bank and SNS Regio bank have improved on several issues.

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Financing of the expansion of the APP Group in Europe and North America
This report describes the recent expansion of the APP Group - which groups the pulp & paper activities of the Indonesian Sinar Mas Group - in Europe, North America and Australia.

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Financing Asia Pulp & Paper . Lessons learned?
Powerpoint presentation about financing APP.

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Fair Bank Guide, 6th update

Sixth update of the Fair Bank Guide, this research shows that the bonus policies of most banks are still inadequate. The website of the Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo wrote researched the report on which the website is based.

 

 

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The financing of Stora Enso

The objective of this report is to analyze the financial stakeholders of the Finish-Swedish paper and pulp producer Stora Enso. Significant shareholders and bondholders and all private and public banks which have been involved in loans to and stock issuances by Stora Enso in the past three years, have been identified.

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European ECA support to carbon intensive industries

Profundo researched the involvement of European Export Credit Agencies (ECA's) in financing carbon intensive industries. The study analyzes all export credits and credit guarantees provided by the 21 ECA’s in EU-member countries  in the past six years (2004-2009) to eleven carbon-intensive industries.

 

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Fair Bank Guide, 5th update

Fifth update of the Fair Banking Guide. The website of the Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo wrote researched the report on which the website is based.

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New financing for Belo Monte and Andritz
Although no decision has been taken yet about which company will construct the Belo Monte dam project in Brazil, the bank Banco do Brasil has begun talks with banks and companies to arrange a loan. Profundo also found that the Brazilian bank is negotiating with some other banks and companies that may bid to build the project. In this paper there's also attention for the financial situation of technology concern Andritz.

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Andritz - recent developments
An overview of the deals that technology concern Andritz did from july 2009 untill january 2010 either in the hydroelectric or paper/pulp industry. The financial situation of the company is also being discussed.

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Fair Bank Guide, 4th update

Fourth update of the Fair Bank Guide. The website of the Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo wrote researched the report on which the website is based.

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The financing of forestry activities of Medco in Papua

This paper researches the financial situation of energyconcern Medco Energi Internasional in Papua regarding their investment in wood pellets. Also the financing of businesspartner LG International is analysed.

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Fair Bank Guide, 3rd update
The website of the Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo wrote researched the report on which the website is based.

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The financing of the Sinar Mas Group

Which public and private financial institutions have provided new financing to the forest-related activities of the Indonesian Sinar Mas Group (and its subsidiaries) since the financial collapse of Asia Pulp & Paper in 2001? Shareholders, bondholders and banks. This research points out to what degree they are involved.

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Fair Bank Guide, 2nd update

The Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo researched the report on which the website is based.

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Fair Bank Guide, 1st update
Research report for OxfamNovib, Amnesty International, FoE Netherlands and FNV Mondiaal. This project aims to improve the level of SRI by Dutch Banks.

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The financing of the oil palm and pulp & paper activities of the Sinar Mas Group

Public and private financial institutions, like shareholders, bondholders and banks, are presently (during the past three years) involved in financing the oil palm and pulp & paper activities of the Indonesian Sinar Mas Group. This report points out the degree of their involvement in Sinar Mas' subsidiaries.

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Fair Bank Guide
The website of the Dutch Fair Bank Guide enables bank customers to check wether their bank has a good policy on various important social and environmental issues. Different banks can also be compared on their policies. The aim of the project is to stimulate social responsible investing by Dutch banks. Profundo researched the report on which the website is based.

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FSC and financial institutions

FSC Netherlands together with Profundo talks with financial institutions (banks, insurers and pension funds) about their possibilities to support the FSC-inititative.

 

In May 2007 ING netherlands and pension fund PME decided to use only FSC-paper. Besides that PME uses FSC as a criteria for its investments in woods. Last November the Dutch governmental pensionfund ABP also decided to shift to FSC-paper totally from 2009 onwards.

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Financing of deforestation by export credit agencies (ECAs)
Research into the financing by export credit agencies (ECAs) of several companies involved in deforestation.
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Financing the Pulp & Paper Sector in Indonesia: Lessons learned?

Presentation during the Indonesian Pulp & Paper Roundtable in New York.

 

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Case studies on Dutch policies affecting forests
Study on the influence of Dutch policies regarding timber, paper, palm oil and soy on deforestation processes in the countries producing and supplying these commodities.

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Controversial projects financed by Chinese banks
Study on the financing by Chinese banks of companies which are seriously polluting the environment or which are involved in violations of human rights.
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Controversial investments by Dutch pension funds
Study into the investments by Dutch pension funds in military companies producing cluster munition and landmines, companies which severely damage the environment and in companies sourcing products which are produced with the help of child labour.
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Financial institutions involved in the Heart of Borneo
Research on the involvement of global financial institutions in (illegal) logging in Indonesia.

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Workshop for Indonesian NGOs: Breaking the commodity curse
Workshop prepared for the meeting of Indonesian NGOs that are concerned with the exploitation of primary materials, and the effect of this exploitation on the local environment.

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The financing of the Riau pulp producers Indah Kiat and RAPP
Study on the financing of several Indonesian pulp and paper producers.

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New lending rule helps protect our environment
Letter to the editor of the Indonesian newspaper Jakarta Post; in cooperation with Fitrian Ardiansyah (WWF Indonesia)

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German bank financing for international pulp & paper companies
Study on the involvement of German banks with the international pulp and paper industry.

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Presentation for Indonesian banks: Risking the forest
Various workshops and presentations for Indonesian banks, NGOs and policymakers, with regard to the production of wood, pulp, paper and palmoil, the risks of these sectors for the environment and living conditions in Indonesia, and the responsibility of the government, producers and financiers of this sector. All workshops and presentations were held on the international conference on forest conservation in Indonesia, organised by o.a. WWF Indonesia.

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Handbook Commodities for Indonesian NGOs

Handbook developed for Indonesian NGOs, with respect to breaking the 'commodity curse'

Indonesian title: Kutukan Komoditas - Panduan bagi ORNOP Indonesia

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Swedish involvement in the Indonesian paper and pulp industry
Contribution and research support of Swedish investigation of commercial relations between Sweden and the Indonesian pulp and paper industry.
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The forest portfolio of Deutsche Bank
Investigation on the involvement of Deutsche Bank in financing of the forestry, paper and pulp industries.

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Who is financing global forest destruction?

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The financing of PT Toba Pulp Lestari
Study on the financing of the Indonesian pulp company Toba Pulp Lestari.

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European banks and companies involved in logging on Sumatra
Research on the involvement of European banks and other companies in the logging of the rainforest in the Tesso Nilo region on Sumatra, Indonesia.
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Company Profile Posim Berhad
Study of the activities and clients of the Malaysian forestry company Posim Berhad.

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Finance, Environment and Sustainable Development
Presentation on Finance, Environment and Sustainable Development.
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Global Wood Pulp Producers and Purchasing Risks Relating to Forest Conservation Issues
Research into the international pulp & paper industry and its effect on deforestation.

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Swedish business interests in the Indonesian pulp and paper industry
Research into Swedish business interests in the Indonesian pulp & paper industry.

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Akzo Nobel and the Indonesian Pulp & Paper Industry
Study of the commercial interests of chemical company Akzo Nobel in the Indonesian pulp & paper industry.

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Paper Tiger, Hidden Dragons 2: APRIL Fools
Research into the financing of the large Indonesian pulp- and paper producer APRIL.
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Production and financiers in the Indonesian Paper and Pulp industry
Investigation of the Indonesian pulp and paper industry, plantation owners and their financiers.

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European banks and palm oil and pulp & paper in Indonesia
Study into the involvement of European banks with the Indonesian palmoil, pulp & paper industry.
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Foreign investment in Russia's pulp and paper industry
Study of foreign investments in Russia's pulp and paper industry.
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Researching Asia Pulp & Paper (APP)
Presentation about the Indonesian pulp & paper giant APP.

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Paper Tiger, Hidden Dragons - The financing of Asia Pulp & Paper
Research into the financing of the large Indonesian pulp and paper producer Asia Pulp & Paper (APP).
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Sector Case Study: Russian pulp and paper industry
Article written for Focus on Finance about the Russian pulp and paper industry.
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Company Case Study: Asia Pulp & Paper
Article written for Focus on Finance about the Indonesian pulp and paper company APP.
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Capital flows in forestry companies
Analysis of the financing of forestry companies.
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