Mercury, Arsenic & Lead in Water - Also Thanks to Credit Suisse

Thursday, 8. August 2019
Urs Arnold

Campax handed over an open letter to Credit Suisse CEO Tidjane Thiam this morning, which was co-signed by over 7500 people. In the letter, we urge Tidjane Thiam to immediately withdraw from all business relationships with mining companies that dump their hazardous waste into the oceans.

"Credit Suisse would only have to erase the word 'shallow' from its guidelines to make an important step out of its dirty business with mine operators who together pour millions of tons of hazardous waste into the oceans every year."

credit suisse ditch ocean dumping campax

Campax handed over an open letter to Credit Suisse CEO Tidjane Thiam this morning, which was co-signed by over 7500 people. In the letter, we urge Tidjane Thiam to immediately withdraw from all business relationships with mining companies that dump their hazardous waste into the oceans.

Credit Suisse has business relationships with three mining companies, Newcrest Mining1, Nussir ASA2 and First Quantum Minerals3, which together dump or intend to dump millions of tons of toxic waste into the oceans each year. The mercury, arsenic, lead and dozens of other hazardous substances contained in some of these materials kill marine animals and poison the water in which humans swim and fish.

Some of the worst mines are in Papua New Guinea. They pollute coral reefs and coastal waters and endanger the health and livelihoods of the population. Significantly involved in financing one of the mine operators operating there: Credit Suisse.

Further projects with similar catastrophic effects are underway in Norway and Chile.

In its sector policies and guidelines, Credit Suisse writes: "Credit Suisse will not finance or provide advice on operations undertaken by mining companies that include the disposal of tailings in a river or shallow seawater environment." We do not want Credit Suisse to support business activities that involve dumping of tailings in the sea, whether in shallow or deep waters. This ruthless practice, which is banned in most countries around the world, causes great damage.

 

1 Underwriter, joint lead on 6 bonds
2 Nominee shares
3 Direct Shareholder

Open letter to Tidjane Thiam

No profit with toxic waste!

Call on Credit Suisse CEO Tidjane Thiam to immediately withdraw from all business relationships with mining companies that dump their toxic waste into the oceans!