Sign now: Banking on Amazon Destruction

The Amazon rainforest is at a tipping point. Banks must adopt an Amazon-wide exclusion policy for oil.

In May 2021, Amazon deforestation hit a record high – all while oil & gas extraction continues to accelerate deforestation and forest degradation in the region. But the oil & gas sector isn’t the only culprit driving the Amazon to irreversible destruction.

JP Morgan Chase, HSBC, Deutsche Bank, Goldman Sachs, and Citigroup all scored “F’s” and are at “very high-risk” of funding the destruction of the Amazon in a scorecard report by and Amazon Watch.

Despite some of these banks having deforestation policies and screening processes set-up to manage the risk of negative environmental and social impacts, they’re still providing investment and financing to oil & gas companies in the Amazon. These loopholes in their environmental and social risk (ESR) policies are keeping them in business with companies involved in corruption, human right’s violations and biodiversity loss.

It’s time to cut the money pipeline fueling Amazon destruction. Urge banks to stop financing oil expansion in the Amazon by adopting an exclusion policy for the whole region. Add your name now.

Read full report here.

graph of amazon banks scorecard

Petition to JP Morgan Chase, HSBC, Deutsche Bank, Goldman Sachs, and Citigroup Click to see full petition text

In order to stave off the dieback of the Amazon rainforest, financial institutions must:

  • Follow the example of the Arctic oil exclusion policies, and take the same action with urgency for the Amazon.
  • Immediately adopt an Amazon-wide exclusion policy that uplifts interconnecting commitments around biodiversity, Indigenous people’s rights, and deforestation is needed to stave off the dieback of the rainforest.
  • Implement adequate and accessible engagement and grievance processes to address violations of their ESR policies.

Banks must adopt an Amazon-wide exclusion policy