]Tell banks: Do not fund the Trans Mountain pipeline
The petition to the 26 banks funding the Kinder Morgan pipeline reads:
â€śThe Kinder Morgan Trans Mountain pipeline expansion would increase
extraction of tar sands â€“ one of the most climate-destructive forms of oil
â€“ and threaten indigenous communities. Stop financing this pipeline and
all other dirty oil pipelines.â€ť
Add your name:
]Sign the petition â–ş
]No New Pipelines
Most Americans have never heard of Canada's Trans Mountain pipeline. But
starting next month, Kinder Morgan â€“ the largest oil pipeline company in
North America â€“ plans to nearly triple the pipeline's capacity to
transport tar sands oil. In fact, the Trans Mountain pipeline could soon
transport far more tar sands oil than either the Dakota Access pipeline or
the Keystone XL pipelines.^1
Pipeline projects are incredibly expensive, and 26 banks have poured
billions of dollars into this financing this one.^2,^3 With enough
pressure on these 26 banks, we can make Kinder Morgan a toxic investment â€“
but we have to act fast before construction is slated to start next month.
]Tell banks to stop financing the Trans Mountain pipeline and all tar
sands oil projects. Click here to sign the petition.
Expanding the Trans Mountain pipeline would be a disaster for Indigenous
rights, our climate and the natural environment along its route. The
existing Trans Mountain pipeline has already logged 82 leak incidents,
including four major oil spills.^4 More than 120 First Nations and Tribes
oppose the pipeline expansion, including all of the First Nations in the
lower mainland of British Columbia.^5 Several First Nations have filed
The pipeline would increase extraction of tar sands â€“ one of the dirtiest
and most climate-destructive forms of oil â€“ at a time when any new fossil
fuel production puts the goals of the Paris climate agreement out of
The banks funding the Trans Mountain pipeline include many names well
known in the United States, including HSBC, Bank of America and SunTrust.
By offering credit to Kinder Morganâ€™s Trans Mountain pipeline, these 26
banks failed a clear test of their commitment to stopping climate change
and respecting Indigenous rights.
]Tell banks to stop financing Kinder Morganâ€™s oil pipeline and all tar
sands projects. Click here to sign the petition.
The good news is that we know this kind of activism works. In July, the
largest association of credit unions in North America froze its funding
for the pipeline. The group, Desjardins, said it plans to pull its $145
million from the project because of environmental concerns.^7
A well-known investment research firm recently encouraged investors to
sell their shares in Kinder Morgan, reporting that Kinder Morgan shares
have lost value over the past three months and citing the opposition from
indigenous and environmental groups as one reason why.^8
As the Trump administration blocks and reverses climate policies, the
movement to stop fossil fuel projects by stopping their funding is picking
up steam. In June, Sweden's largest national pension fund, AP7, sold
investments in six companies, including ExxonMobil and TransCanada,
because their activities breach the Paris climate agreement.^9 As
investing in pipelines becomes more toxic, banks and eventually energy
companies themselves will start looking for safer alternatives.
Trans Mountain is just as dangerous as more well-known pipelines, but too
few people know that this expansion is planned â€“ or that we have a chance
to stop it.
Tell the CEOs of these banks to stop financing Kinder Morganâ€™s oil
pipeline and all tar sands projects. Click the link below to sign the
Photo: fdevalera/Getty Images
Brandy Doyle, Campaign Manager
]CREDO Action from Working Assets
Add your name:
]Sign the petition â–ş
Â 1.Â AyĹźe GĂĽrsĂ¶z, "[ act.credoaction.com/go/15030
]5 Things You Need to Know About Kinder Morgan's Trans
Mountain Pipeline," Rainforest Action Network, June 6, 2017.
Â 2.Â Tucker McLachlan and Chris Hatch, "[ act.credoaction.com/go/15031
]Who's banking on Kinder
Morgan's Trans Mountain Pipeline? National Observer, July 21, 2017.
Â 3.Â Toronto-Dominion Bank, Royal Bank of Canada, Canadian Imperial Bank of
Commerce, Scotiabank, CIBC, Bank of Montreal, National Bank of Canada,
JPMorgan Chase, Bank of America, Mizuho Financial Group, Bank of
Tokyo-Mitsubishi, Barclays Bank, China Construction Bank, SunTrust,
Sumitomo Mitsui Financial Group, HSBC, ATB Financial, FIPPGV/PX,
Desjardins, Bank of China, United Overseas Bank, United Overseas Bank,
Siemens Financial, Deutsche Bank, Credit Suisse, Societe Generale,
Canadian Western Bank, Industrial & Commercial Bank of China.
Â 4.Â Trans Mountain, "[ act.credoaction.com/go/15032
]Spill history," April 1, 2017.
Â 5.Â Treaty Alliance Against Tar Sands Expansion, "[ act.credoaction.com/go/15033
against tar sands expansion," accessed Aug. 1, 2017.
Â 6.Â Karin Larsen, "[ act.credoaction.com/go/15034
]'It is our Standing Rock:' First Nations announce
legal actions against feds, Kinder Morgan," CBC, Jan. 19, 2017.
Â 7.Â CBC News, "[ act.credoaction.com/go/15035
]What Desjardins' investment freeze could mean for
Kinder Morgan's pipe dreams," July 10, 2017.
Â 8.Â Zacks Equity Research, "[ act.credoaction.com/go/15036
]Kinder Morgan's Trans Mountain Pipeline
Financing at Risk," NASDAQ, July 11, 2017.
Â 9.Â Ibid.