Hi John – I’m Ilan. I’m the team lead for 350 Latin America and I’ve spent the last four years resisting fracking in Vaca Muerta, an area in Northern Patagonia, Argentina.
Recently, huge reserves of gas and oil were discovered in Vaca Muerta, buried deep in the shale rock – some of the largest of their kind in the world.1
Right now, only 4% of the Vaca Muerta region has been developed, but Argentinian oil giant YPF has huge plans to expand fracking there.2 This would have deadly consequences inside and outside of Argentina, pushing the Earth further towards climate breakdown.
YPF is only able to carry out its dangerous, dirty business because of the support they get from big European and U.S. banks like Morgan Stanley, HSBC, and Citibank.3
Fracking companies are dumping toxic waste close to homes and farmland, damaging people’s health and poisoning their water.4 Local families live in constant fear of earthquakes caused by the fracking process.5
By lending billions of dollars to – or owning shares in – YPF, these banks are enabling destruction and making huge profits while local people suffer from cancer, asthma and skin diseases caused by fracking.6 To top it off, most of these banks are headquartered in countries and states where fracking is banned because of how dangerous it is.7
It’s so important that we call out these banks now before any new projects get off the ground.
People are coming together across Argentina and the world to stand against the frackers. From Indigenous leaders, to unions, and even the United Nations, people are speaking up.8
We know this kind of pressure works. Recently, many banks tied to YPF ruled out funding another destructive project – the East African Crude Oil Pipeline (EACOP) – because of international resistance from our movement.9
That’s why I am asking you to stand with the people of Argentina today. Call on the banks funding YPF to stop funding destruction and fund the just transition instead. Ask them to help bring good jobs, real progress and climate justice to Argentina.
I hope we can count on your solidarity in this fight, John.
With determination,
Ilan Zugman
350 Latin America Team Lead
1 - EJES
2 - BankTrack
3 - Buenos Aires Times
4 - Global Oil and Gas Exit List
5 - Global Oil and Gas Exit List
6 - EJES
7 - EJES
8 - Urgewald
9 - StopEACOP
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