Singapore-based Indofood Agri Resources’ policies are widely considered to fall short of what is required for its 247,630 ha plantations.
Several major banks, including Citibank, stopped funding Indofood in recent years, and in January 2019, Indofood withdrew from the RSPO. The next month, one of its subsidiaries was suspended. The company is now servicing the leakage market. Vanguard, Dimensional, BlackRock, Fidelity, and CalPERS are among the top shareholders. The company has been an ongoing target of campaigns from NGO Rainforest Action Network (RAN). RAN documented labor violations at London Sumatra, and Indofood subsidiary, since it was suspended by the RSPO, while also highlighting massive worker layoffs during the COVID-19 outbreak.