European banks face indigenous calls to end Amazon oil trade

Tipping point: Sandbags are seen piled up against a damaged oil pipeline about 25km from Tena. The Amazon rainforest faces worsening wildfires and clearing for agriculture and mining. — Reuters

LONDON: European banks committed to backing action on climate change face allegations of double standards from indigenous groups in Ecuador after a report named them as major players in the trade in oil from the Amazon rainforest.

Stand.earth and Amazon Watch said ING, Credit Suisse, Natixis, BNP Paribas, UBS and Rabobank were the largest backers in the shipment of about US$10bil of Ecuadorian crude to US refineries over the last decade.