BNP Paribas, stop financing deforestation

Global Witness published the report "DEFORESTATION DIVIDENDS: How global banks profit from rainforest destruction and human rights abuses". It shows how Banks and asset managers in the EU, UK, US and China have made deals worth $157 billion with firms accused of destroying tropical forests in Brazil, Southeast Asia and Africa since the Paris Climate Agreement. These financial institutions have netted $1.74 billion in interest, dividends and fees from financing the parts of agribusinesses groups that carry the highest deforestation risk – primarily soy, beef, palm oil and pulp and paper And BNP Paribas France's largest bank is one of the main banks doing dirty business with agribusiness groups despite its green commitments. The bank has for example worked with @cargill which supplied 2.6 million tonnes of Brazilian soy to the EU in 2018 coming from the Cerrado, one of the most ecologically threatened regions of Brazil among other things. And despite multiple red flags, the relationship between BNP Paribas and Cargill has been a lucrative one for the bank, which has provided Cargill with credit facilities and bond underwriting worth almost $4 billion in the last five years. It has also provided almost $300 million in credit to the broader Wilmar empire which in 2018 was sourcing palm oil from 18 different companies responsible for deforestation. @wilmar_international. If you have an account at BNP Paribas it might be time to change bank. The same goes with HSBC, JP Morgan, Rabobank, Crédit Agricole, ING group and more... They all deserve climate warnings. A very interesting report (or the summary at least!) to read here: https://www.globalwitness.org/en/campaigns/forests/deforestation-dividends