LENDING TO THE LOGGERS (2023)
This report looks at the role of non-bank lenders and equipment companies in supporting PNG's destructive logging industry.
In the last eight years, two finance companies and one equipment retailer have provided financing to at least 15 companies that are logging in PNG’s rainforests. These loans are likely to have helped companies buy the bulldozers and trucks used to destroy millions of hectares of tropical rainforest. Over this time, multiple government reviews, court judgments and non-government reports have also raised red flags about widespread illegality in PNG’s logging sector.
In the last eight years, two finance companies and one equipment retailer have provided financing to at least 15 companies that are logging in PNG’s rainforests. These loans are likely to have helped companies buy the bulldozers and trucks used to destroy millions of hectares of tropical rainforest. Over this time, multiple government reviews, court judgments and non-government reports have also raised red flags about widespread illegality in PNG’s logging sector.