abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

BNP Paribas, Natixis and Crédit Agricole implicated in financing global forest destruction

Research shows France’s financial sector provided nearly €2 billion between 2013 and 2019 to five of the six of the most harmful agribusiness companies directly or indirectly involved in deforestation in the world’s largest tropical rainforests. This makes France the second largest EU contributor of funds to these companies...

Ahead of a meeting convened tomorrow by the French government on the country’s strategy to tackle deforestation associated with its imports, Global Witness reveals how BNP Paribas, Natixis and Crédit Agricole are all linked to major agribusiness companies associated with extremely damaging deforestation in some of the world’s largest remaining rainforest...

“This activity appears to be in direct contravention of President Macron’s stated ambitions to tackle global deforestation,” said Laurence Duprat, Campaign Advisor at Global Witness. “We have identified financing operations that occurred even after the French government introduced its ‘Duty of Vigilance’ law in 2017 requiring French business to identify, mitigate and prevent adverse human rights and environmental impacts resulting from their activities.” ...