Investor's Eye on the Amazon - December 2012

First, some good news! Thanks in no small part to shareholder advocacy efforts, Talisman Energy and ConocoPhillips announced plans this fall to withdraw from key oil blocks in the Peruvian Amazon. And in the historic Chevron lawsuit, the Ecuadorian plaintiffs have launched a global enforcement strategy, which is already making strides in Argentina. Meanwhile, shareholders are keeping up pressure on the company over its $19 billion liability (see co-filing opportunities below).

But threats to the Amazon and its people still abound. In Brazil, the destructive Belo Monte dam project is forging ahead despite local and international resistance, and further opens up opportunities for the mining industry (see Belo Sun Mining Corporation) to wreak havoc in indigenous and riverbank community lands. And in the western Amazon, Ecuador and Peru are moving forward with new oil and mining rounds despite massive indigenous opposition.

Read an archived version of this issue here.

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Amazon Watch works to protect the rainforest by advancing the rights of indigenous peoples. Defending indigenous rights and territories is a demonstrably effective solution to the threat of climate change. Together with our indigenous allies, we are growing the movement to leave all fossil fuels in the ground and promote a just transition to 100% renewable energy.