BankTrack News
CBRM pressures Banca Intesa to sell BTC stake
2005 |
BankTrack
Baku-Tbilisi Ceyhan pipeline. Photo: BT
2005 |
BankTrack
From 2004 to 2006, Campagna per la Riforma della Banca Mondiale (CRBM - now Re:Common) led a campaign urging Banca Intesa, the biggest Italian banking group, to promote social and environmental standards in its operations, with a focus on its involvement in the controversial Baku - Tbilisi - Ceyhan (BTC) pipeline. As a result of this campaign, Banca Intesa sold its share in the BTC pipeline in 2005.
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