Update: 05.06.2007

Financial compensation for rainforest peoples to be paid by Credit Suisse

Two Switzerland based organisations fighting for the rights of indigenous peoples, the Bruno-Manser-Fonds (BMF) and the Society for Threatened People (GfbV/SPM), blame Switzerland’s second biggest bank, Credit Suisse (CS), for not respecting its own sustainable development charter by accepting to work for the timber company Samling. On 3 May 2007 they demanded $10 million of financial compensation, the amount made since the company entered in the stock market. The money should go to indigenous rainforest peoples to compensate them for the destruction of their environment in Guyana, Cambodia, Malaysia and Papua New Guinea. The groups accuse Samling of destroying indigenous populations' drinking water resources and preventing them from entering their own forests to harvest timber.

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