Santander Accused Of $1.3B Financing For South American Deforestation

Business and Finance Business and Finance

Thu, May 15, 2025

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Santander Accused Of $1.3B Financing For South American Deforestation

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Santander Accused Of $1.3B Financing For South American Deforestation

^{Published on 2025-05-15 04:40:40 - Forbes}

Spain's largest bank has provided major financial backing to a firm that has carried out extensive deforestation in four South American nations, a new report alleges.

Santander, a major Spanish bank, is facing allegations of providing $13 billion in financing that has contributed to deforestation in South America, according to a report by the environmental group Stand.earth. The report claims that Santander's financial support has been linked to companies involved in illegal logging and land grabbing in the Amazon rainforest, exacerbating environmental damage and violating indigenous rights. Santander has responded by stating its commitment to sustainable finance and its ongoing efforts to assess and mitigate environmental risks, though critics argue that the bank's actions have not been sufficient to address the scale of the problem.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/davidrvetter/2025/05/15/santander-accused-of--13b-financing-for-south-american-deforestation/ ]

N@N

Santander Accused Of $1.3B Financing For South American Deforestation