Banks loan billions to oil firms allegedly exporting low-grade fuel high in pollutants, says briefing
A new BankTrack briefing raises questions about how banks are conducting human rights due diligence. In response to research by Swiss NGO Public Eye accusing Switzerland-based oil trading companies of selling blends of low-grade fuel high in pollutants in African markets, BankTrack contacted 26 banks that have loaned billions to oil companies Trafigura and Vitol about their human rights obligations. BankTrack's "Human Rights Impact Briefing: Banks and Dirty Diesel" analyzes these responses and notes that none of the banks said that they had challenged the companies to stop the practice, nor planned to do so.
Responses by banks to the draft BankTrack briefing can be found here.
Trafigura and Vitol's responses to Public Eye's initial research and Public Eye's rejoinders can be found here.