Ending Financing for Oil in Amazonia

Amazonia is one of the last places on the planet that the oil industry and industrial extraction should be expanding and it is time for banks to step up and ensure that they aren’t complicit in harming Indigenous rights and the continued degradation of this critical region.

The Exit Amazon Oil and Gas campaign, coordinated by Stand.earth and in collaboration with the Pan-Amazonian Indigenous Organization, COICA, is calling on banks to stop financing – directly and indirectly – oil and gas in Amazonia.

Amazonia is one of the last places in the world where oil drilling should be happening, especially since the International Energy Agency (IEA) warns that there can be no new fossil fuel projects if the world is to stay within the 1.5°C limit on global warming.

The Exit Amazon Oil and Gas platform calls for urgent action in Amazonia, with a demand for banks to immediately commit to:

  • Not financing any new oil and gas expansion;
  • Phasing out their current financing;
  • Adopting strong, binding policies to respect the Indigenous right to self-determination.

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Banks Must Exit Amazon Oil & Gas

In line with the need to protect 80% of Amazonia by 2025 and the campaign's demand to end financing and licensing for industrial activities in the Amazon, campaigners at Amazon Watch and Stand.earth have teamed up with leadership from COICA, CONFENIAE, AIDESEP, and other Indigenous organizations to call on banks to live up to their commitments to s

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Stop the money pipeline for Amazon destruction

JP Morgan Chase and CITI must adopt an Amazon-wide exclusion policy for oil and gas. Sign now.

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Banks must adopt an Amazon-wide exclusion policy

JP Morgan Chase, HSBC, Deutsche Bank, Goldman Sachs, and Citigroup are at “very high-risk” of funding the destruction of the Amazon. Banks must adopt an Amazon-wide exclusion policy. Sign now.

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UBS & Societe Generale must commit to stop financing crude oil.

I added my name to urge these banks to stop financing the trade of Amazon crude oil.

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Resources

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New Research Shows Eight Major Banks Responsible for Majority of $20 Billion in Financing For Oil And Gas Companies Destroying the Amazon

July 25, 2023
Reports

Citigroup: Top Financier of State-run Oil Companies in the Amazon

April 26, 2022
Reports

Banking on Amazon Destruction

July 8, 2021
Reports

European Banks Financing Trade of Amazon Oil to the U.S.

August 12, 2020
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Citigroup “Climate Forward” Reputation Remains Tainted with Impacts of Fossil Fuel Financing in Amazon Rainforest 

March 1, 2022
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Citigroup Fails to Reign in on Oil and Gas Expansion to Address Amazon Rainforest in Crisis in New Commitments

January 20, 2022
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Amazon Indigenous groups respond to Petroecuador’s statement on the end of trade financing of Ecuadorian oil by European banks

February 2, 2021
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Climate report reveals for the first time that U.S. & Spanish banks dominate fossil fuel financing in the Amazon

April 13, 2023
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European banks BNP Paribas, Credit Suisse, ING to exclude exports of Ecuadorian Amazon oil from trading activities

January 25, 2021
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New Report Reveals European Banks Financing Trade of Controversial Amazon Oil to U.S.

August 12, 2020
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Report fails global banks for financing, investment in oil & gas in Amazon rainforest

July 8, 2021

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