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Monday, 25 Jan 2021 12:43 PM MYT Credit Suisse said it had decided to phase out financing for oil exports from the Ecuadorean and Peruvian Amazon after completing existing commitments. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. ZURICH, Jan 25 — Credit Suisse, Dutch lender ING and France’s BNP Paribas have decided to stop financing the trade in crude oil from Ecuador, the banks said today, following pressure from campaigners aiming to protect the Amazon rainforest. The role of European lenders in backing the trade came under scrutiny ...

BlackRock’s Big Problem Responds to Larry Fink’s 2021 Letters BlackRock’s Big Problem Responds to Larry Fink’s 2021 Letters January 26, 2021 BlackRock continues steps in the right direction, but falls short of the visionary leadership needed WASHINGTON- Today, BlackRock released CEO Larry Fink’s annual letter to CEOs as well as a letter to its clients. The letters spelled out the next steps the world’s largest asset manager will be taking to address the climate crisis. With close to $9 trillion in assets under managem...

Credit Suisse, Dutch lender ING and France's BNP Paribas have decided to stop financing the trade in crude oil from Ecuador, the banks said on Monday, following pressure from campaigners aiming to protect the Amazon rainforest.

By Jon Hay 25 Jan 2021 Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020. BNP Paribas, Credit Suisse and ING were among six European banks criticised by Amazon Watch and Stand.Earth in a report last year for providing trade finance to companies exporting oil from the region.These three banks have now all told the NGOs th...

* Indigenous leaders in Amazon rainforest welcome the move * Advocay groups call for moratorium on new drilling (Adds investor comment) ZURICH/LONDON, Jan 25 (Reuters) - Credit Suisse, Dutch lender ING and France’s BNP Paribas have decided to stop financing trade in crude oil from Ecuador, the banks said on Monday, after pressure from campaigners aiming to protect the Amazon rainforest. The role of European lenders in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon Watch named six European banks as major financiers of Ecuadorean oil e...