Four French banks respond to Camisea project report
In its investigative report, “Amazonia, gas and French banks”, FRANCE 24, in partnership with Disclose and the Pulitzer Center's Rainforest Investigations Network, revealed the involvement of six French banks in a huge gas field in the heart of the Peruvian Amazon, the Camisea project. Four of them responded on their investment and energy transition strategies.
The investigation ‘Amazonia, gas and French banks’ carried out by France 24 and its partners is based on an analysis of exclusive financial data. It reveals that six French banking groups, led by Crédit Agricole, hold 375 million euros worth of shares and bonds in two companies involved in the Camisea project.
This participation by the major banks via their asset management subsidiaries contrasts with the ecological commitments publicly displayed by these institutions.
When contacted, none of the banks concerned wished to comment on information concerning financial holdings in specific companies. None agreed to be interviewed on camera.
Crédit Mutuel and La Banque Postale did not respond to our requests.
Crédit Agricole, BNP-Paribas, Société Générale and BPCE, on the other hand, responded to us about their investment and energy transition strategies.
Crédit Agricole
"As far as financing the energy sector is concerned, BNP Paribas has pivoted its business model to support the energy transition and is aiming for 90% low-carbon energy in its loan portfolio by 2030.
