Wall Street Ties to Amazon Depletion Mapped Out in Report (1)

Some of Wall Street’s biggest banks aren’t properly accounting for the risks of doing business with oil and gas companies operating in the Amazon rainforest, according to a study by conservationists.

The report, published by Stand.earth Research Group,identifies six banks it says are responsible for almost half of all direct financing for oil and gas operations in Amazonia over the past 20 years.

JPMorgan Chase & Co., Citigroup Inc., Itau Unibanco Holding SA, Banco Santander SA and Bank of America Corp. have failed to “fully address the adverse impacts of their financing,” the researchers said. The ...