Big banks greenwashing role in financing fossil fuel firms for projects damaging Amazon — report

Report says the Amazon rainforest is the world’s most important terrestrial carbon sink and home of biodiversity, yet it is degrading towards a point of no return.

Five of the world’s biggest banks are “ greenwashing” their role in the destruction of the Amazon, according to a report that indicates their environmental and social guidelines fail to cover more than 70% of the rainforest.

The institutions are alleged to have provided billions of dollars of finance to oil and gas companies involved in projects that are impacting the Amazon, destabilising the climate or impinging on the land and livelihoods of indigenous peoples.