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UPDATE 1-European lenders exit Amazon oil trade after scrutiny by campaigners

Indigenous leaders in Amazon rainforest welcome the move Advocay groups call for moratorium on new drilling (Adds investor comment) ZURICH/LONDON, Jan 25 (Reuters) - Credit Suisse, Dutch lender ING and France’s BNP Paribas have decided to stop financing trade in crude oil from Ecuador, the banks said on Monday, after pressure from campaigners aiming to protect the Amazon rainforest. The role of European lenders in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon Watch named six European banks as major financiers of Ecuadorean oil exports to U.S. refineries.

Nemonte Nenquimo Carried a Spear Into the Courtroom

Leader from the Ecuadorian Amazon is among this year’s Goldman Prize winners Photo courtesy of Jeronimo-Zuñiga It was April 26, 2019, and Nemonte Nenquimo’s tribe, the Waorani of the Ecuadorian Amazon, was fighting for its life. The Ecuadorian government had announced 16 new concessions that would allow oil companies to explore and drill for petroleum. One of them Block 22 was within the Waorani’s territory, an area of intact Amazon jungle stretching across roughly 500,000 acres near the foothills of the Andes.  The Waorani said they had not been consulted about the proposed oil leasing their right under the Ecuadorian constitution. In response, they filed a lawsuit against the planned oil drilling and launched an international campaign asking people around the world to sign a petition to the Ecuadorian government in defense of their rights.

Amazonie: un peuple indigène porte plainte contre une compagnie pétrolière

Amazonie: un peuple indigène porte plainte contre une compagnie pétrolière
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