Demanding responsibility to BBVA and Santander

SETEM launches its campaign “Demand responsibility to BBVA and Santander” to denounce the lack of application of BBVA and Santander´s Corporate Social Responsibility (CSR) policies.

By collecting signatures in both postcard format as well as online in Spanish and English, SETEM offers the concerned public and especially the clients of these two banks, the possibility to send postcards, expressing their concern and demanding them to stop financing those projects.

BBVA has endorsed various voluntary initiatives of Corporate Social Responsibility, among these, the Equator Principles, the environmental policy of the BBVA and the Global Compact promoted by United Nations. In addition, they have firmed the UNEP-FI (United Nations Environmental Program for Financial Institutions). Nevertheless, it finances Tecpetrol, one of the companies involved in the expansion of Camisea project, located in the Cuenca del Bajo Urubamba (Peru). Since 2004, this project has received strong criticism for destroying indigenous communities and not complying with the national and international Human Rights norms. These facts will be denounced by SETEM in the bank’s upcoming shareholders meeting, next 14th of March 2008 in Bilbao.

Santander has signed also various voluntary initiatives of Corporate Social Responsibility, among them, the Global Compact and the UNEP-FI. Nevertheless it is the intermediary bank and lead arranger of the consortium of the Río Madeira project (Brazil) which plans to construct two hydroelectric dams which will harm the local communities as well as the future of the Amazon. The illegal deforestation has already intensified in the region and if this project is developed, 5.000 families will be obliged to leave their land without foreseeing their relocation and/or compensation. Moreover, the drinking water in Porto Velho will be affected and the ecosystem as well as the traditional way of life will be in danger.

The research conducted by SETEM in partnership with SOMO has linked BBVA with 11 other controversial projects and, in the case of Santander, with 9 projects of similar and questionable nature.

To place your signature go to the Banktrack website(opens in new window)

download the reports:
Banco Santander(opens in new window)
BBVA(opens in new window)