Banks have provided $15 billion for oil and gas extraction in the Amazon since 2016, despite climate commitments. This financing exacerbates environmental degradation and threatens Indigenous rights.

According to a Stand.earth report, banks have funneled $15 billion into oil and gas extraction in the Amazon since 2016, with $2 billion allocated between January 2024 and June 2025. The financing primarily benefits six companies, including Pluspetrol and Hunt Oil Peru. While some banks have reduced their financing due to sustainability policies, none have completely stopped. The report highlights the ongoing environmental damage and socio-economic rights violations linked to projects like the Camisea Gas Complex. Despite a global push for sustainability, many banks are backtracking on climate commitments, prioritizing short-term profits over environmental concerns.