Chinese banks urged to divest from firms linked to deforestation

China funnelling billions into harmful production of beef, soy and palm oil, says campaign group

Campaigners have called on Chinese banks to stop funding overseas agribusinesses that accelerate deforestation and biodiversity loss and have a negative impact on regional water cycles and climate.

In a report, the campaign group Global Witness said Chinese banks were funnelling billions into global agribusinesses, becoming some of the biggest global financiers of deforestation.