What’s the connection between the banks that we trust with our money and potentially destructive activity such as oil and gas exploration in the World’s most precious places, UNESCO World Heritage sites?
Taking oil and gas as an example, companies approach banks for s finance in order to carry out exploration or exploitation projects. Sadly, if the banks don’t have a strong policy in place to respect the value of these protected areas, then nothing stops them financing extractives companies who can cause irreversible damage. Banks can also actively choose to finance companies that act more responsibly, such as the members of the International Council of Mining and Metals who have a policy to respect World Heritage sites.
As part of the Saving Our Shared Heritage campaign, WWF have been working with banks to encourage them to have a, or improve their, policy around World Heritage sites.
Read more from source: Putting banks on the hot seat: accountability in World Heritage protection – WWF UK Blog