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Ditch Ocean Dumping Campaign applauds broad prohibition to protect oceans, rivers and other water bodies.
Standard Chartered has announced a full prohibition of financial services for clients practicing marine and riverine mine waste dumping. Standard Chartered adopted their policy shortly after the launch of the Ditch Ocean Dumping campaign, joining Citigroup, which has also confirmed that it will no longer finance submarine mine waste disposal.
“We have long held the view that marine or riverine tailings disposal is not good industry practice, and we are proud to add it to our prohibited activities list,” said Amit Puri, Managing Director and Global Head of Environmental and Social Risk Management at Standard Chartered.
“We applaud Standard Chartered for taking a leadership role in ending ocean mine waste dumping. It’s dirty, unnecessary and wrong,” said Ellen Moore of Earthworks, a nonprofit organization which is coordinating the campaign. “Banks and financial institutions must actively take steps to ensure that they are not bankrolling the destruction of our oceans. I hope other banks follow the example set by Standard Chartered and Citigroup.”
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