Rainforest Action Network

Rainforest Action Network has three campaigning strands: stopping deforestation, defunding climate change, and supporting communities. In each of these they undertake research to understand which companies, including banks, have the greatest detrimental impact on forests, climate and communities.

The team produce two key reports that are widely used by investors and other organisations, their annual Fossil Fuel Finance Report and Keep Forests Standing Scorecard.

RAN is working to lessen environmental impact by holding corporate powers to account. Image © iStock

The Fossil Fuel Finance Report examines commercial and investment bank financing for the fossil fuel industry, aggregating their leading roles in lending and underwriting debt and equity issuances. It focuses on the banks, primarily based in North America, Europe and Asia, which continue to dominate fossil fuel financing.

The Keep Forests Standing campaign calls on some of the most influential brands fuelling the destruction of rainforests and the violation of human rights to take real action for forests and communities through a ‘scorecard’ which provides a snapshot assessment on their progress.

They launch specific campaigns targeting key global corporates, as well as supporting Indigenous Peoples and local communities to challenge companies in their regions. This includes providing funding through their Community Action Grants, co-managed by Global Greengrants, to local groups in South America, Africa and Southeast Asia.

As part of their work on following finance flows, they have small teams working in Indonesia and Japan, on influencing the finance sector, specifically banks, in each of those countries. As Environmental, Social and Governance (ESG) policies have improved among major banks from Europe and North America, Rainforest Action Network have seen a decline in credit from them, however it appears that Southeast Asian banks have stepped in to fill some of that deficit. So, Rainforest Action Network is developing campaigns in this region to address this shift.