Greenpeace calls Chilean company’s Oslo IPO “garbage”

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Environmental organization, Greenpeace, isn’t happy that DNB Markets has helped Chilean Salmones Camanchaca list in Oslo, newspaper Dagens Næringsliv has reported.

Greenpeace has taken offence with bookmaker DNB’s prospectus. In it, the Chilean company is described as having “a big focus on sustainable and transparent salmon-farming and operations”.

“DNB presents an environmental bad guy as good investment, even though it is risky to buy shares in the company,” Martin Norman is quoted as saying. Norman works on sustainable finance for Greenpeace.

“We don’t want the Oslo Stock Exchange to be garbage dump,” Norman reportedly said.

Read First Chilean salmon farmer starts trading in Oslo

Norman said Salmones Camanchaca should never have been allowed to list in Oslo due to its environmental challenges it breach of rules. DNB, the newspaper wrote, said it has made the environmental concerns plain.

“DNB Markets has worked with the company for nearly half a year and in our experience the company has sustainabiliyty high up on its agenda,” a statement form the bank said, adding that it had rules on whoe it loaned money to or was bookmaker for.

Salmones Camanchaca chairman, Ricardo Garcia Holtz, lashed out at Greenpeace, calling them “a little, radical group that lacks credibility”.

“We follow all the rules and have a good reputation in Chile. We cooperate well with the WWF and among the world’s most open salmon famers,” Holtz was quoted a saying.