Major European Lenders Back Out of Oil Trade in Ecuadorian Amazon
Jan 29, 2021
Three major European banks — Credit Suisse, ING, and BNP Paribas — have announced they will no longer finance the trade of oil extracted from the Amazon Sacred Headwaters region in Ecuador. The decision is seen as a major victory for environmental and Indigenous rights activists, who campaigned heavily to stop the international financing of fossil fuel development in the region, Reuters reported.