Investor's Eye on the Amazon - October 2011
- October 2011
- Amazon Watch
This is the third edition of our Investor's Eye on the Amazon quarterly email newsletter, providing institutional investors, industry analysts and researchers with key insight into some of the most pressing issues facing the Amazon and companies operating there.
This edition is jam-packed with important updates from a number of our campaigns.
In the landmark oil pollution case in Ecuador, Chevron was recently dealt a significant blow when a US Court upended the oil major's legal strategy bringing the Ecuadorian plaintiffs closer to collecting on the historic $18 billion ruling out of Ecuador. Meanwhile, the New York State Comptroller, Thomas DiNapoli, escalated his public effort to demand Chevron seek an equitable settlement with the communities of the Ecuadorian Amazon in a searing and sobering OpEd published on the Huffington Post.
In Brazil, the Belo Monte hydroelectric dam project was halted when a judge ordered construction to be stopped temporarily because of the risk that fish stocks would be damaged. In the remote Peruvian Amazon, Canadian-based Talisman Energy's operations were disrupted by a major river blockade organized by the Shuar indigenous people along the Morona River. Talisman's ongoing and controversial operations in Block 64 in Peru, which overlaps the ancestral territory of the Achuar, Shuar, Shapra and Kandoshi indigenous people's, is a stark example of the challenges to Peru's new consultation law.
Also featured in the newsletter is an Amazon Watch Risk Assessment for Ivanhoe Energy's controversial project in Block 20 of the Ecuadorian Amazon, where the company is facing staunch local resistance from the Rucullacta Kichwa indigenous people who are adamantly opposed to the project.
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