The 2021 World Economic Summit is this week, gathering the world's leading economic and governmental actors. Protecting the Amazon and Indigenous rights must be on the #DavosAgenda! Join the social media storm starting today through January 29th to build the pressure on Natixis and UBS to stop their financing of Amazon oil.
Yesterday we shared the breaking news that four European banks – BNP Paribas, Credit Suisse, ING, and Rabobank – are immediately excluding Ecuadorian Amazon oil from their financing activities. This comes months after our research published with Stand.earth revealed that six European banks financed $10 billion in oil trade from the Ecuadorian Amazon since 2009.
But, two banks – Natixis and UBS – have not yet taken action despite having policies on advancing human rights, sustainability, and climate change. Natixis is the only bank since the release of our report to continue financing Amazon crude - worse still, it has doubled the volume it finances. UBS has yet to make any commitments to stop trade financing for Amazon oil, including from places in the Peruvian Amazon known to be home to uncontacted Indigenous peoples.
Join the social media storm today and tell these banks to stop financing oil trade from the Amazon!
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