Greenpeace on Tuesday staged a protest on Zurich’s main Paradeplatz square against Credit Suisse, Switzerland’s second-largest bank. The activists demanded that the bank should stop financing pipeline projects that endanger the environment.
Greenpeace collected more than 400,000 signatures in 138 countries for a petition against tar sands pipelines. The protest is aimed at Credit Suisse and 11 other banks, which Greenpeace says are financing projects that endanger the environment.
Sustainability More Than a Trend?
Greenpeace Switzerland today said that Credit Suisse needed to take action to stop supporting businesses that boosted global warming. Instead, the business should be in tune with a low-carbon and sustainable economy.
Credit Suisse notes that it has already made it clear several times that it is not involved in the project financing of the Dakota Access Pipeline (DAPL): «Corresponding allegations are false and will be decisively rejected by the bank.»
CS repeatedly targeted
Like many other banks, Credit Suisse has business relations with companies involved in the DAPL project. However, the capital provided by banks and investors is used for other activities. Currently, around 20 infrastructure projects are being planned (pipelines, gas processing plants, distribution stations) or under construction in various states.
It isn’t the first time that Greenpeace is staging a protest against Credit Suisse over the pipelines’ business. In April of 2017, the annual general meeting was interrupted by activists who abseiled from the ceiling during the speech held by CEO Tidjane Thiam (picture below).