August 2020
European Banks Financing Trade of Amazon Oil to the U.S.
Groundbreaking report exposes a range of European banks have provided $10 billion USD in trade financing for over 155 million barrels of oil from the Ecuadorian region of the Amazon Sacred Headwaters to refineries in the U.S.
Why in the world would any bank that has policies on advancing human rights, sustainability, and climate change be financing the flow of oil from the Amazon Sacred Headwaters region in Ecuador to US refineries? Makes you wonder if there's a little hypocrisy in play. Our report led by Stand.earth Research Group in partnership with Amazon Watch uncovered some serious findings.
