BNP Paribas, Crdit Agricole and BPCE given formal notices on the duty of vigilance

BNP Paribas, Crédit Agricole and BPCE have been given formal notice by the Tierra Digna association for their financial investment in the Swiss company Glencore and its subsidiary Prodeco, which the NGO accuses of “serious damage to the environment, particularly in terms of of public health” in Colombia, according to the letters consulted Thursday by AFP.

The Colombian association accuses Glencore of illegal or irregular activities in the mines of La Jagua and Calenturitas with coal dust which, for years, did not meet the standards set by the WHO and contamination of sources of water, both surface and underground, by materials such as lead and other toxic substances, according to the formal notices sent to establishments on Tuesday.

To carry out its activity, the company Glencore benefits from numerous financing and investments from international financial institutions, continues Tierra Digna, adding that NGO reports have highlighted the involvement (of the three French banks) in these climate-killing financial flows.

Since 2017, the French law on the duty of vigilance requires large companies to take effective measures to prevent human rights and environmental abuses throughout their chain of activity.

Since the first action launched in 2019, against TotalEnergies, their number has multiplied and around twenty proceedings are currently underway.

In October, BNP Paribas was the target in October of two formal notices on the duty of vigilance, in respect of its financial support Marfrig, the second largest meatpacking company in Brazil, and its impact on deforestation, and on its support for companies developing new oil and gas projects.

source site-96