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Date: April 30, 2024 Tue
Time: 1:26 am
Time: 1:26 am
Results for timber industry
2 results foundAuthor: Huerbsch, Brian Title: The Cost of Environmental Crime: Illegal Logging Summary: Illegal logging poses real and significant regulatory risk for international financial institutions and corporations, especially those connected, either directly or indirectly, with the global timber industry, or that operate in areas where the industry is prevalent and important to the local economy. Considering the notable increase in regulatory activity over the past decade, the amount of enforcement actions given, and the ballooning size of fines over the past several years, it is clear that illegal logging is a crime that cannot be ignored anymore. Fortunately, this risk can be mitigated properly if strong third-party risk and know your customer (KYC) processes are in place, including enhanced due diligence (EDD) and anti-money laundering (AML) protocols. Details: Thomson Reuters, 2016. 12p. Source: Internet Resource: Accessed April 6, 2018 at: https://risk.thomsonreuters.com/en/resources/white-paper/the-cost-of-environmental-crime-illegal-logging.html Year: 2016 Country: International URL: https://risk.thomsonreuters.com/en/resources/white-paper/the-cost-of-environmental-crime-illegal-logging.html Shelf Number: 149623 Keywords: Costs of Crime Environmental Crime Forests Illegal Logging Natural Resources Timber Industry |
Author: Global Witness Title: A Major Liability: Illegal Logging in Papua New Guinea Threatens China's Timber Sector and Global Reputation Summary: In 2016, PNG provided 29% of China's tropical log imports, making it the country's single largest supplier. But our investigation reveals how a large number of logging operations in Papua New Guinea (PNG) violate the law despite holding government-issued permits. China is the world's largest consumer and manufacturer of wood and wood products. Yet it has no regulation to keep illegal timber from entering its borders. The risk of illegal timber from countries like PNG flooding China's markets has the potential to damage its reputation and major trade relationships as buyers in the U.S. and EU, which ban illegal timber imports, take action to protect themselves. This trade has profound implications for PNG as well. 70% of the country is covered by forest ecosystems that are home to some of the world's rarest plants and animals. The forest is also central to the cultural traditions and livelihoods of PNG's eight million people. By continuing to import tropical timber from PNG on such a scale, China is driving the destruction of a vulnerable and ancient forest. In A Major Liability, we draw on satellite imagery to show hundreds of apparent violations of the country's Forestry Act in major logging operations - all of which hold government permits and all of which continue to export timber. Details: London: Global Witness, 2018. 19p. Source: Internet Resource: Accessed September 7, 2018 at https://www.globalwitness.org/en/campaigns/forests/major-liability-illegal-logging-papua-new-guinea-threatens-chinas-timber-sector-and-global-reputation/ Year: 2018 Country: Asia URL: https://www.globalwitness.org/en/campaigns/forests/major-liability-illegal-logging-papua-new-guinea-threatens-chinas-timber-sector-and-global-reputation/ Shelf Number: 151431 Keywords: Deforestation Environmental CrimeForests Illegal LoggingIllegal Trade Natural ResourcesOffenses Against the Environment Timber Industry |