European banks face indigenous calls to end Amazon oil trade: Report

Fears over the impact of oil extraction in the Amazon were heightened in April when a pipeline ruptured, depriving 27,000 indigenous people of their main water source

European banks committed to backing action on climate change face allegations of double standards from indigenous groups in Ecuador after a report named them as major players in the trade in oil from the Amazon rainforest.

Stand.earth and Amazon Watch said ING, Credit Suisse, Natixis, BNP Paribas, UBS and Rabobank were the largest backers in the shipment of about $10 billion of dollars of Ecuadorian crude to US refineries over the last decade.

Each of the banks identified, having reviewed the report referred to environmental commitments they had made, such as to back the 2015 Paris climate accord, protect forests and support