Event: The responsibility of European banks in the cases of Glencore in Peru and Colombia.

21.11.23.- On November 30th, CINEP/PPP, one of the social centers of the Society of Jesus in Colombia, will participate in an event in Brussels to present the report “A legacy of contamination: the cases of Glencore in Peru and Colombia“. The report has been carried out by Oxfam International and Fair Finance in collaboration with the Peruvian organisation CooperAcción, and the Colombian organisations Censat Agua Viva and CINEP/PPP.

Event information 

Organiser: Fair Finance International, Oxfam International, CIDSE, S&D, and the Justice is Everybody’s Business Campaign

Venue: Press Club, Rue Froissart 95, 1040 Brussels

Upcoming Dates: November 30, 2023 1:00 pm – 3:00 pm (CET)

Link to register

Link for online participation (there will be spanish – english translation)

Context

 Negotiations on the European Corporate Due Diligence and Sustainability Directive (CSDDD) have now entered the final phase. This law is of great importance as it will oblige large companies (both European and foreign companies operating in the common market) to take measures to respect human and environmental rights in their value chains. 

However, European legislators are showing reluctance to include the financial sector within the scope of the law, which could weaken their ability to achieve true corporate accountability.

To highlight the responsibility of the financial sector, the report analyzes the role of European banks in the financing of two projects of the mining company Glencore: the case of the Antapaccay copper mine in Peru and the El Cerrejón coal mine in Colombia. In both cases, despite existing complaints, Glencore has shown little interest in respecting the rights of local communities. Hence the need to continue to raise awareness among European shareholders and legislators so that they take action and pass a law requiring greater commitment from financial institutions to protect the environment and human rights.

PROGRAMME

Welcome by Silvia Ellena, EURACTIV

Panel 1 – The case of Glencore

• Elsa Merma Ccahua,  Platform of People Affected by Toxic Metals, Peru
• Jenny Ortiz, researcher Cinep, Colombia

Panel 2 – CSDDD and the financial sector

• René Repasi, MEP S&D and rapporteur CSDDD
• Nelleke Hofs, Business & Human Rights advisor, ABN AMRO
• Pepijn Gerrits, Director of Programmes, Oxfam Novib
• Name tba – Achmea Investment Management
• EU Council Representative (tbc)

Closing remarks by Kees Kodde – Project Lead, Fair Finance International

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