Tell Chase, Bank of America, and Citi: Stop Bankrolling Amazon Destruction!

The Amazon’s defenders are holding the line against destructive soy expansion. But after major soy traders abandoned a critical rainforest safeguard, Chase, Bank of America, and Citi kept the money flowing.

Our new 2026 Banking on Biodiversity Collapse report exposes the financing behind this threat. These banks have the power to stop these traders going back on a 20 year commitment – they must require forest protections and respect for Indigenous rights as conditions of doing business.

Add your name below to demand that Chase, Bank of America, and Citi uphold the Amazon Soy Moratorium’s protections and stop financing companies that put forests and Indigenous communities at risk.

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To Jamie Dimon (JPMorgan Chase), Brian Moynihan (Bank of America) and Jane Fraser (Citi)

Stop bankrolling the destruction of the Amazon and the people who protect it

In April, tens of thousands of us asked you to protect the Amazon after the world’s biggest soy traders abandoned the Amazon Soy Moratorium. The Forests & Finance coalition and partners wrote to warn you that, without this safeguard, your financing risks fueling large-scale deforestation and harm to the communities who live there. You have not responded publicly, and you have kept the money flowing.

Since 2020, your three banks have provided almost $4 billion to the tropical forest-risk operations of ADM, Bunge, Cargill and Louis Dreyfus, including $172 million since January, after these traders walked away from the Moratorium. This year’s Banking on Biodiversity Collapse policy assessment found that JPMorgan Chase and Citi have some of the weakest forest and human rights policies, scoring just 18% and 26%.

For nearly twenty years the Amazon Soy Moratorium showed that soy can be grown without clearing rainforest, cutting soy-driven deforestation by 69% in the areas it monitored. Now the same traders are pushing new export infrastructure, including a railway, dredged rivers and new ports through the heart of the Amazon. Soy expansion brings land grabbing, pesticides in the water, and violence against those who resist. Indigenous Peoples and traditional communities are leading the fight against this expansion. This year they occupied Cargill’s grain terminal in Santarém for 33 days and forced Brazil’s government to scrap its plan to dredge the Tapajós river. As Alessandra Korap, a Munduruku leader said: “When they are destroyed, we are destroyed with them.”

Indigenous Peoples are the Amazon’s most effective protectors, and the forest is approaching a tipping point. The Amazon recycles the rainfall South America’s farms depend on, including the soy belt itself. Once that threshold is crossed, the damage cannot be reversed on human timescales.

We call on you to:

Publicly commit to uphold the Amazon Soy Moratorium’s core protections – a 2008 deforestation cut-off date and farm-level traceability – across all your financing for the soy sector.
Extend no-deforestation and farm-level traceability requirements to clients operating in the Cerrado with a cut-off date no later than 2020.
Respect Indigenous Peoples’ rights and require clients to implement UNDRIP aligned policies with explicit protections and recognition of their right to give or withhold Free, Prior and Informed Consent.
Refuse financing for the companies involved in the expansion of export infrastructure, including the Ferrogrão railway, river dredging and new ports, where affected communities have not given their consent.
Make these protections binding conditions of all financing, and suspend relationships with clients who fail to comply.