Bankrolling Ecosystem Destruction - The EU must stop the cash flow to businesses destroying nature

A new report by a coalition of NGOs, Bankrolling ecosystem destruction, shows that since the 2015 Paris climate agreement, European banks have lent about €256 billion to corporations that put forests, savannahs and other climate critical natural ecosystems at risk.

The study focuses on JBS, Cargill, Sinar Mas and other top global producers, processors and traders of soy, cattle, palm oil, rubber, timber and other commodities that carry a high risk of ecosystem destruction, and the financial institutions that finance them. The EU is the second-largest global financial hub bankrolling these commodities sectors.

The report lays out the importance of EU regulation of the financial sector to align finance with the global 1.5°C and biodiversity targets, including ending any new provision of financial services to groups that contribute to nature destruction.