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Stand.Earth denounces European banks financing trade of Amazon oil to USA
A groundbreaking report by Stand.Earth and Amazon Watch exposes a range of European banks have provided $10 billion USD in trade financing for over 155 million barrels of oil from the Ecuadorian region of the Amazon Sacred Headwaters to refineries in the U.S.
Why in the world would any bank that has policies on advancing human rights, sustainability, and climate change be financing the flow of oil from the Amazon Sacred Headwaters region in Ecuador to US refineries? Makes you wonder if there’s a little hypocrisy in play? Our report led by Stand.earth Research Group and in partnership with Amazon Watch uncovered some serious findings…
The top six banks out of the 19 assessed in the report, account for financing 85 percent of all bank financed trade – despite having policies on advancing human rights, sustainability, and climate change.
The six banks are ING, Credit Suisse, Natixis, BNP Paribas, UBS and Rabobank.
Sign the petition to stop them!