Deep in the Peruvian Amazon, a sprawling industrial facility has been carved out of the rainforest. This is the Camisea Gas Complex, a natural gas mega-field operated by a consortium of oil companies led by Argentina’s Pluspetrol. The complex now supplies 70% of Peru’s liquefied petroleum gas, primarily used for cooking. But the project has left behind a trail of socioenvironmental rights violations, from threats to the survival of isolated Indigenous people to failure to provide energy access to the communities closest to the complex — and on the frontlines of the multiple gas leaks that have contaminated the forest in the 20 years since production began. In September, the Organisation for Economic Co-operation and Development, OECD, deemed Pluspetrol responsible for environmental damage and Indigenous rights violations in the Peruvian Amazon. A plethora of banks help fund the Camisea Gas Complex. According to nonprofit Stand.earth, Pluspetrol’s local subsidiary and fellow consortium members Repsol and Hunt Oil Peru have received $3.1 billion in financing since 2016. At least 16 banks — including Citibank, JPMorganChase, Itaú Unibanco and HSBC — have provided funding in the last year. These numbers are part of a new report, “Banks vs. The Amazon,” which uncovers how global financial institutions continue to direct resources toward oil and gas extraction in Amazonia, contributing to the destruction of the rainforest and the rise of carbon emissions that contribute to higher global temperatures — despite some banks having adopted policies to end this. Between January 2024 and June 2025, direct…This article was originally published on Mongabay

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