BNP Paribas, CS and ING to cut Amazon oil financing
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...
Source: globalcapital.com
