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Are Swiss banks really chopping environmental devastation from trade financing? Construction of an oil pipeline through an area of cloud forest: The Oleoducto Crudo Pesado pipeline, completed in October 2003, transports between 390,000 and 450,000 barrels of crude oil per day from the from the Ecuadorian Amazonian to Esmeraldas on the coast. Dr Morley Read As awareness of the Amazon rainforest’s role in balancing the global climate builds, banks financing Switzerland’s important commodity trading sector are starting to re-evaluate the environmental impact of their business. This content was published on March 15, 2021 - 09:00 March 15, 2021 - 09:00 Paula Dupraz-Dobias in Geneva In February, BNP Paribas, once the world’s leading trade finance provider, announced it would no longer financeExternal link companies that produce or trade beef and soybeans originating from land cleared in the Amazon after 2008. ....
Are Swiss banks really chopping environmental devastation from trade financing? swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.