Amid growing concerns over environmental degradation, Indigenous leaders from the Wampis Nation in Peru have arrived in London to demand an end to international banks’ financial support for Amazon oil activities.
The Wampis leaders, Tsanim Evaristo Wajai Asamat and Pamuk Teofilo Kukush Pati, are engaging British lawmakers at the House of Commons. Their goal is to shed light on the impact of oil activities, which threaten their ancestral rainforests. These activities, they argue, are facilitated by banks like HSBC, JPMorgan Chase, and Santander, which have funded upgrades for Petroperu’s refinery. This refinery is supplied by oil from a pipeline stretching over 680 miles through rainforest territory.
Pamuk Teofilo Kukush Pati emphasized the gravity of the situation by stating that their fishing waters have been “badly polluted,” leading to a dire threat to their community’s survival. The Wampis, with a history of over 7,000 years of forest conservation, now find themselves confronting the detrimental effects of oil spills.
The banks’ role, as ‘bookrunners’ in a $1 billion bond offering in 2021, highlights their involvement. Despite this financing, leaks have been frequent along the pipeline, with Petroperu reporting 89 incidents over the past decade—most attributed to external factors rather than equipment failure.
Santander, JPMorgan, and HSBC have each issued statements defending their environmental diligence. Santander insists on compliance with environmental regulations, while JPMorgan highlights the importance of Indigenous rights in their operations. HSBC places restrictions on projects in the Amazon.
Petroperu itself acknowledges the oil spills and states that it’s invested over $180 million in cleanup efforts. Significant penalties were imposed on the company in 2022 for new spills, indicating ongoing environmental challenges. These penalties are part of broader issues identified in Petroperu’s bond prospectus, which warns investors of the risks related to Indigenous protests and potential legal repercussions.
In addition to oil spills, the Wampis’ concerns extend to illegal logging and mining intrusions. These issues align with broader advocacy efforts from delegates from Colombia, Liberia, and Mexico who are campaigning for UK legislation that would penalize corporations for environmental harm. A noteworthy voice was Jesus Javier Thomas Gonzalez from Mexico, highlighting the adverse impacts of a mining company on local lands.
The British government maintains that businesses must avoid environmental damage but acknowledges the need for constant policy reviews to ensure effective enforcement.
The Wampis leaders’ visit underscores a critical appeal for responsible banking practices that respect Indigenous territories. The outcome of their advocacy efforts in the UK could set significant precedents for environmental protection and Indigenous rights.
Source: News4jax
