From its very name, American-owned SG Sustainable Oils Cameroon, Ltd. (SGSOC) presents a pro-... read more
In September 2012, the Oakland Institute published a report in collaboration with Greenpeace International on a 73,000 hectares (ha) palm oil project proposed for development by SG Sustainable Oils Cameroon, Ltd. (SGSOC)/Herakles Farms in the Southwest region of Cameroon. The report, Massive Deforestation Portrayed as Sustainable Development: the Deceit of Herakles Farms in Cameroon, described the major flaws of the project and the questionable tactics used by the New York-based company and its CEO, Bruce Wrobel, to make the project look sustainable and beneficial to Cameroon.
Company documents related to the Herakles Farms palm oil project in Cameroon were recently provided to the Oakland Institute. These documents contain evidence that Herakles Farms is misleading investors, local communities, the Cameroonian government, and the general public about the status of its project and operations in the country.
This report exposes the significant discrepancies between how the company has represented the project to the public and what it is telling prospective investors and creditors. It also exposes internal communications that contradict the optimistic outlook for the palm oil project presented to investors.