ANZ lack of due diligence and abandonment of ethical lending obligations in lending to controversial Cambodian sugar plantation that employs children

Beware of not completing proper due diligence and adhering to integrity commitments.....


ANZ is said to be financing a Cambodian sugar plantation, owned by Ly Yong Phat, one of Cambodia's richest men and a senator from its ruling political party. 


Audits apparently reveal that the plantation involves child labour, military-backed land grabs, forced evictions and food shortages thus not implementing the environmental, health and social management programs required by ANZ to meet its ethical lending obligations.

Read more: http://www.smh.com.au/national/anz-under-fire-for-loans-to-controversial-cambodian-sugar-plantation-20140122-3196z.html#ixzz2rAbCQKnb