Climate Week is underway in New York City, and today Amazon Watch released a scathing report demonstrating the extreme risks of investing in Peruvian state-owned oil company Petroperú.

Petroperú wants to expand its operations in the Amazon by seeking foreign investment, jeopardizing not only the rainforest, but the lives and cultures of Indigenous communities already grappling with oil contamination and environmental destruction.

The Achuar and Wampis Indigenous communities have repeatedly rejected oil operations on their territory, and they oppose Petroperú’s plans to develop oil fields on their lands. Petroperú also operates the notorious North Peruvian Pipeline, which constantly leaks and has caused innumerable environmental damages. Just this month, the company has reported two massive oil spills.

Amazon Watch has already received responses from financial firms. European bank BNP Paribas called the report’s findings “concerning.” We will continue to engage and pressure other lenders to commit to withdrawing all support for oil drilling in the rainforest.

The movement to end fossil fuels and to protect the Amazon has had increasing success by targeting the financial sector and demonstrating not only the moral, but also legal, environmental, and financial risks of investing in oil. Together with Indigenous and frontline communities, we will continue to demand an end to oil operations which violate human rights and destroy communities and cultures.

Read the report here, and please stay involved in our efforts to End Amazon Crude!