European Banks BNP Paribas, Credit Suisse, Rabobank And ING Stop Financing Amazon Oil Trade
Geschreven op 27-1-2021 - Erik van Erne. Geplaatst in Investeren
European banks BNP Paribas Group, Credit Suisse, Rabobank, and ING Group collectively responsible for financing the trade of over $5.5 billion USD in Amazon oil to the U.S. from 2009 to 2020 have committed to immediate restriction measures on the trade finance of oil from the Amazon Sacred Headwaters of Ecuador.
This breaking news is a direct response to the release of an August 2020 report by Stand.earth and Amazon Watch revealing how European banks financed the trade of $10 billion USD of oil from the Amazon Sacred Headwater region to the U.S.
The report critiques banks for engaging in a double standard by promoting corporate sustainability commitments while trading Amazon oil that contributes to climate change and has direct impacts on Indigenous peoples.
