French banks make millions from fossil fuel investments polluting the Amazon basin

Alexander ABDELILAH / DISCLOSE

10 January 2025 at 8:05 am·1-min read

Repsol is a Spanish oil and gas company.

French banking groups Credit Agricole, BNP Paribas and BPCE have been discreetly investing in the oil and gas industry accused of polluting the Amazon basin – despite their ecological pledges. An investigation by Disclose, in partnership with FRANCE 24 and RFI, reveals that the banks are earning huge profits from these investments.

Raising cattle, growing soy and mining for gold: the link between these business activities and Amazon deforestation is well documented. Each year, activists, researchers and international NGOs in Brazil monitor and report such activities by individuals and multinationals.

In the fight against the degradation of one of the world's largest biodiversity reserves, news outlets have also looked into financial institutions that have been funding environmental crimes. Disclose took part in a joint investigation in 2022 on the links between some French banks and the agrifood industry involved in Amazon deforestation in Brazil.

Our latest investigation, in partnership with FRANCE 24 and Radio France International (RFI), sheds light on another industry that is destroying the Amazon region: oil and gas.

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