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30 Jan 2020

OECD Watch

Indigenous women and WECAN vs. Credit Suisse

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On 30 January 2020, indigenous women in the United States and WECAN filed an OECD Guidelines complaint against Credit Suisse for contributing to adverse impacts to Indigenous peoples and the environment through continued corporate finance to firms that built the Dakota Access Pipeline (DAPL) and Bayou Bridge Pipeline (BBP)... he complaint highlights Credit Suisse's breaches of the OECd Guidelines on General Policies (disclosure and stakeholder consultation), Human Rights, and the Environment. This case follows on a recent related case filed against Credit Suisse by the Swiss-based the Society for Threatened Peoples (STP), also regarding the bank's involvement in financing DAPL. That case concluded in 2019 and led to Credit Suisse incorporating the protection of Indigenous communities’ rights into its internal guidelines on project financing. This case, however, specifically addresses the bank's contribution to harm through its corporate lending, not project financing.