Today, Amazon Watch released a new report exposing the elevated risks of financially supporting state-run oil company Petroperú) amid its controversial plans to expedite new oil drilling in the Amazon.
Petroperú
Assessing Petroperú’s Financial, Legal, Environmental, and Social Risks
Petroperú has plunged into massive indebtedness to complete its Talara Refinery Modernization Project and is now financially obligated to maximize its oil production to sustain itself, despite growing Indigenous and community opposition.
Strength in Unity: MarAmazonía Alliance Takes on Petroperú at Its Largest Refinery
A campaigner’s account of the groundbreaking MarAmazonía alliance meeting
“Welcome to the oil capital of Perú." It turns out that the city of Talara was where one of the first oil wells was drilled in all of South America, dating back to 1863. The toxic legacy of oil was evident.
Following the Money Behind Amazon Oil Development
Santander and HSBC worked on Petroperú bond issuance despite its record of Amazon oil spills
Financial Times | Local opposition has hampered Petroperú’s plans to start producing crude from two large blocks in the Amazon. For many banks, support for Amazon oil development must look like much more trouble than it is worth.
Standing with Indigenous Earth Defenders in the Amazon
In the heart of the Peruvian Amazon, Olivia Bisa, the first female president of the Chapra Nation, stands as a beacon of courage and resilience.
Amazon Watch is building on more than 25 years of radical and effective solidarity with Indigenous peoples across the Amazon Basin.
Petroperú Is Desperate for Cash, But We’re Going to End Amazon Crude!
The company is now in talks with Citi and JPMorgan Chase, and Indigenous nations tell them again: no new financing for Petroperú!
Joining forces with our partners, Amazon Watch is gearing up to launch a series of campaign actions in 2024. Our mission: to ensure financiers, including commercial banks, investors, and insurers, fully grasp the perils of financially supporting Petroperú.
Autonomous Indigenous Nations Fight to Stop the Flow of Money to Petroperú
As Petroperú ramps up efforts to exploit oil in Block 64, Indigenous nations, in partnership with Amazon Watch and the Sacred Headwaters Initiative, launch a public campaign to pressure commercial banks to commit to no new Petroperú financing
Their efforts effectively put the multimillion dollar deal at a stalemate, and prevented Petroperú from attaining new long-term financing for the Talara Refinery in the past six months.
Amazonian and Coastal Communities Target Potential Petroperú Financier Italian Agency SACE
In the face of mounting environmental and rights concerns, the Peruvian Federation of the Achuar Nationality, the Autonomous Territorial Government of the Wampís Nation, and the Cabo Blanco Fishing Association are targeting the potential financial investment by the Italian export credit agency in Petroperú.
The Achuar and Wampis Peoples of the Peruvian Amazon Continue Their Fight Against Oil Exploration in Block 64
Watch this video update from David Peas, the Vice President of the National Federation of the Achuar of Peru, as he asks for continued support to keep Petroperú out of Block 64
David Peas, the Vice President of the National Federation of the Achuar of Peru, just sent us this personal message of gratitude and continued resistance.
Amazon Watch Response to Petroperú
Under international standards, the impacted communities should have been consulted for the creation of Block 64 as well as all leasing contracts, which did not happen. As such, the “intercultural dialogue mechanisms” cannot be considered as complying with the international standards of FPIC.
Petroperú Will Seek Financing to Drill in Environmentally Conflicted Area
“Banks and asset managers should know that any investment in Petroperú represents a serious financial risk. The current government is trying to take advantage of political instability to speed up contested projects which have a history of extensive unremediated environmental impacts. The message is clear: the oil industry in Peru is a bad...
Victory: Corporations Behind Climate Week Exposed for Ties to Amazon Destruction
Thousands of Indigenous, frontline, and community activists gathered at NYC Climate Week demanding climate justice
After years of virtual events, Climate Week 2022 coincided with the gathering of world leaders at the United Nations General Assembly, bringing thousands to New York City to hold leaders accountable for the escalating climate crisis and making the presence of Indigenous peoples more important than ever.
Amazonian Leaders: Climate Week Sponsors Complicit in Destruction of Amazon Rainforest, Indigenous Land
At press conference in New York City, Indigenous leaders from Brazil, Ecuador, and Peru expose U.S. financial institutions for projects harming Indigenous communities
New York, NY – New York Climate Week sponsors, including BlackRock and Vanguard, were among the American financial institutions exposed for financing the destruction of the Amazon and Indigenous land at a press conference this week held by Indigenous leaders from the Amazon region and environmental and human rights group Amazon Watch.
Climate Week NYC: Peruvian Oil Company Petroperú is Toxic for International Investors
New Amazon Watch report details Petroperú's threats to the climate, Indigenous rights, and its investors' bottom line
New York, NY – Peruvian state-owned oil company Petroperú poses extreme risks for investors, according to a new report by Amazon Watch released during New York Climate Week.
The Risks of Investing in Petroperú
This risk assessment describes the political, social, financial, environmental, and legal risks associated with investing in Petroperú. It also compiles the perspective of some communities that could be affected by the threat of oil operations by Petroperú, in particular, the Achuar People of the Pastaza River and the Autonomous Territorial...
Vanguard Funds Indigenous Rights Violations in Peru’s Amazon
Asset manager Vanguard must stop investing in Indigenous rights violations and environmental destruction
The Achuar and Wampis have good reason to oppose further oil extraction: The Northern Peruvian Oil Pipeline, which runs through their territories, has repeatedly ruptured, causing countless spills and constant threats to the environment and safety of their communities.
