Brady Dougan, CEO
Credit Suisse First Boston
11 Madison Ave.
New York, NY 10010

RE: Withdraw financial support for Shell's Sakhalin II project!

Dear Mr. Dougan,

In the wake of the last month's oil spill near Kholmsk on Sakhalin Island, I strongly urge Credit Suisse First Boston to immediately withdraw financial support for Shell's Sakhalin II project and to adopt comprehensive environmental standards for investment that meet industry best practices. Even without accidental spills, the devastation of this project violates all definitions of sustainable investment. As a signatory to the Equator Principles, your company has a public commitment to protect endangered ecosystems. CSFB’s status as financial advisor on Sahkalin II is a violation of that commitment.

Sakhalin II is a clear threat to the health of local communities. The project also threatens the habitat of the last remaining 100 endangered Western Gray Whales that make their home in the waters off Sakhalin.

I urge you to stop funding Shell's Sakhalin II project and to immediately adopt the following environmental standards:

1) Quickly phase out all funding and investment in extractive industries (e.g. oil, gas, mining, logging) in endangered ecosystems;

2) Commit to support the right of indigenous and local populations to have free and prior informed consent to projects on their lands;

3) Commit to independent third party chain-of-custody certification of logging operations in regions where over 50% of logging is illegal;

5) Commit to reduce investments in greenhouse gas producing industries commensurate with the best recommendations of the Intergovernmental Panel on Climate Change, and beginning with an immediate ban on new funding for coal.

Please do the right thing and withdraw funding for the Sakhalin II project today!

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