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Indonesia: Friends of the Earth calls on banks to withhold loans from Lapindo Brantas gas project until it compensates people displaced by Sidoarjo mud volcano - Credit Suisse, Barclays, Fortis respond - Merrill Lynch declines to respond

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Company response
11 July 2011

Response by Barclays: Friends of the Earth calls on major banks, including Barclays, to withhold further loans from Lapindo Brantas gas project until it compensates people displaced by Sidoarjo mud volcano disaster.

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Company response
7 September 2007

Response by Fortis: Friends of the Earth calls on major banks, including Fortis, to withhold further loans from Lapindo Brantas gas project until it compensates people displaced by Sidoarjo mud volcano disaster.

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Article
11 July 2007

Friends of the Earth reports about the Sidoarjo mud volcano in Indonesia - company responses and non-responses

Author: Compiled by Business & Human Rights Resource Centre

[In June 2007, Friends of the Earth issued reports about the mud volcano by the Lapindo Brantas gas exploration project in Indonesia, and called on major banks investing in the project to withhold further loans to Lapindo Brantas until it compensates those who were displaced. Business & Human Rights Resource Centre invited the 5 banks and the 3 companies involved in the Brantas production sharing contract to respond. Responses / non-responses by the 5 banks [As of 11 July 2007]: Responses by Barclays, Credit Suisse, Fortis; Merrill Lynch declined to respond; Natixis has not yet responded. Responses / non-responses by the 3 Brantas production sharing contract companies [As of 11 July 2007]: Response by Santos; Medco Energi indicated it has sold its interest in the project; Energi Mega Persada has not responded.]

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Company non-response
11 July 2007

Merrill Lynch (part of Bank of America) did not respond to: Friends of the Earth calls on major banks, including Merrill Lynch, to withhold further loans from Lapindo Brantas gas project until it compensates people displaced by Sidoarjo mud volcano...

Company non-response
11 July 2007

Natixis (joint venture Caisse d'Epargne & Groupe Banque Populaire) did not respond to: Friends of the Earth calls on major banks, including Natixis, to withhold further loans from Lapindo Brantas gas project until it compensates people displaced by...

Company response
11 July 2007

Response by Credit Suisse: Friends of the Earth calls on major banks, including Credit Suisse, to withhold further loans from Lapindo Brantas gas project until it compensates people displaced by Sidoarjo mud volcano disaster.

Read the full post here

Company response
11 July 2007

Response by MedcoEnergi: Friends of the Earth calls on major banks to withhold further loans from Lapindo Brantas gas project (owned by companies including Energi Mega Persada) until it compensates people displaced by Sidoarjo mud volcano disaster

Read the full post here

Company response
11 July 2007

Response by Santos: Friends of the Earth calls on major banks to withhold further loans from Lapindo Brantas gas project (owned by companies including Santos) until it compensates people displaced by Sidoarjo mud volcano disaster.

Read the full post here

Article
1 June 2007

[PDF] Lapindo Brantas shirking its responsibility for damage caused by the mud volcano in Sidoarjo, Indonesia - Major international banks involved in financing catastrophic mud volcano

Author: Friends of the Earth International

On May 29 2006, a mud volcano started gushing from the ground less than 200m from the Banjar Panji I gas exploration well...and has not stopped since... 3,500 families have been forced from their homes, 11 villages submerged... It has devastated the lives of more than 15,000 people... the compensation process has been extremely slow and there is a large discrepancy between what the victims are demanding and what [operator Lapindo Brantas (joint venture Energi Mega Persada, MedcoEnergi, Santos)] is willing to pay... At least 33 banks and financial institutions have been involved in financing the three Brantas PSC companies, among them...Credit Suisse...Barclays...Merrill Lynch...Natixis [joint venture Groupe Banque Populaire & Caisse d'Epargne] and the Fortis Group...

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Article
8 December 2006

Banjar Panji-1 Incident - Briefing Document

Author: Santos

Santos is very concerned by the impact of the incident on the community and the environment
• Support is being provided to the NMT [National Mitigation Team of Indonesian Govt.] and Lapindo through timely and full payment of cash calls (US$15m paid by Santos to date) - Cash calls are supporting the social, technical and environmental response efforts
• But the NMT has been established to manage the response. As an 18% non-operator and not represented on the NMT, Santos does not have authority to direct the response effort
[also refers to Medco E&P Brantas (part of MedcoEnergi), Lapindo Brantas (part of Energi Mega Persada)]

Read the full post here