On 30 January 2020, indigenous women in the United States, Divest Invest Protect, and WECAN filed an OECD Guidelines complaint against Credit Suisse for contributing to adverse impacts to Indigenous peoples and the environment through continued corporate finance to firms that built the Dakota Access Pipeline (DAPL) and Bayou Bridge Pipeline (BBP). This filing was also supported by the Indigenous Human Rights Defenders and Corporate Accountability Program at the University of Arizona and the International Human Rights Clinic at Western New England University School of Law. The complaint highlights the violation of indigenous people’s right to give free, prior and informed consent (FPIC) as well as Credit Suisse‘s continued financing of fossil fuels driving the climate crisis. The complaint highlights Credit Suisse‘s breaches of the OECd Guidelines on General Policies (disclosure and stakeholder consultation), Human Rights, and the Environment. This case follows on a recent related case filed against Credit Suisse by the Swiss-based the Society for Threatened Peoples (STP), also regarding the bank’s involvement in financing DAPL. That case concluded in 2019 and led to Credit Suisse incorporating the protection of Indigenous communities’ rights into its internal guidelines on project financing. This case, however, specifically addresses the bank’s contribution to harm through its corporate lending, not project financing.

Relevant OECD Guidelines

More details