BNP Paribas Sued For Providing Financial Services To Companies That Allegedly Contribute To Deforestation Of The Amazon Rainforest
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You hear more and more often that companies are sued for actions that threaten the climate, but this is the first time you hear about a lawsuit against a bank.
In this article:
- Lotte Group and Polygon
- Ukraine war updates
- French bank BNP Paribas sued by NGOs
Lotte Group and Polygon
Lotte Group, South Korea's fifth-largest conglomerate with manufacturing, hotel and e-commerce businesses, plans to expand its non-fungible token (NFT) business globally through a partnership with the Polygon blockchain.
The Lotte Group has assets of more than 121 trillion Korean won (US$92.3 billion). The rebranded collection will be called "BellyGom NFT Season 2". The company is still working on the project and there is no release date for the collection.
Polygon is the third largest blockchain in NFT sales in the last 30 days. . The Polygon platform is compatible with Ethereum, and Polygon has signed partnership agreements with global brands such as Starbucks, Adidas and Prada.
NEWS: Lotte Group, a South Korean conglomerate, has announced partnership plans with Polygon (#MATIC) to expand its #NFT business globally.
— CoinGecko (@coingecko) February 27, 2023
📰 https://t.co/iJVTndtwvR pic.twitter.com/h9w2QsnoEN
Ukraine war updates
After a year of war, the conflict has no end. Ukraine is supported by Western countries.
Meanwhile, Ukraine received support and financial assistance this weekend from an unlikely source: Saudi Arabia.
Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al Saud, Ukraine's Foreign Minister Dmytro Kuleba and Chief of the Cabinet of the President of Ukraine Andriy Yermak were present at the signing ceremony of the agreement and the memorandum of understanding worth USD 400 million in aid for Ukraine.
Ukrainian President Volodymyr Zelensky praised Saudi Arabia on Sunday after a high-level diplomatic visit that saw the Middle Eastern kingdom, Russia's ally for its ties to oil production.
On the other side of the clash, Russian President Vladimir Putin said Moscow needs to consider NATO's nuclear capabilities and reiterated that the West wants to eliminate Russia.
Putin said that the West is complicit in the "crimes" committed by Ukraine by supplying the country with weapons, with the ultimate goal of destroying and dividing Russia.
Putin has repeatedly blamed the West for causing the conflict in Ukraine. In a speech last week ahead of the first anniversary of the outbreak of war, Putin tried to justify the Russian invasion by claiming it was trying to allow citizens of the disputed Donbass region in eastern Ukraine to speak their "own language".
Russia has to take NATO's nuclear capabilities into account, Putin says; Ukraine gets Saudi support https://t.co/4mvxAu4Zai
— CNBC (@CNBC) February 27, 2023
French bank BNP Paribas sued by NGOs
The Brazilian NGO Comissão Pastoral da Terra and the French group Notre Affaire À Tous said they filed a lawsuit in a Paris court last week alleging that BNP Paribas failed to carry out proper checks before agreeing to provide financial services to companies that allegedly contribute to deforestation of the Amazon rainforest.
Destruction of forests is the largest source of greenhouse gas emissions in Brazil, and climate activists are increasingly using lawsuits to force large companies to move to a low-carbon economy.
French companies have become of particular interest due to a 2017 French law that requires them to identify and prevent threats to human rights and the environment
French bank BNP Paribas sued by NGOs over Amazon deforestation link https://t.co/o7Uu0v0Ztz pic.twitter.com/iCQ74p7bEP
— Reuters Business (@ReutersBiz) February 27, 2023
