30 Dec '11, 12pm

Shareowners Press Chevron on Environmental Liabilities in Ecuador

Shareowners Press Chevron on Environmental Liabilities in Ecuador

There may be major corporations with poorer corporate governance records than Chevron, but it is unlikely that many have been as tied to systemic human rights and environmental abuses as the U.S.-based oil and gas giant. SocialFunds.com recently reported on Chevron's complicity with human rights abuses by the military regime in Burma. As shareowner activist Simon Billenness explained, "The payments that Chevron makes to the military regime are booked under the regime's exchange rate of six kyat to a dollar, when in reality in the marketplace it's several hundred to a dollar. What that means is that it helps the regime launder the money." In addition, Chevron is part of a consortium building the Yadana Gas Project, which, according to EarthRights International , "has been marred by serious and widespread human rights abuses committed by pipeline security forces on behalf of...

Full article: http://www.greenbiz.com/blog/2011/12/30/shareowners-press...

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