Today, Norway announced plans to divest from roughly 150 companies engaged in oil and gas exploration and production. Our response.
FOR IMMEDIATE RELEASE April 16, 2018 US Commercial Banks In For a Spring of Fossil Fuel Resistance US commercial banks are gearing up for their annual general meetings, starting as early as this week, but they’re not alone in making plans for AGM season. A growing number of concerned communities and organizations are planning a … Read More
FOR IMMEDIATE RELEASE April 12, 2018 US Bank Raises $2 Billion in Oil and Gas Pipeline Finance Since Pledge to Stop Pipeline Financing Since revising its environmental policy last year, US Bank financed more than $2 billion to companies building oil and gas pipelines, including an estimated $480 million to Energy Transfer Partners, new analysis … Read More
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Rainforest Action Network, Oil Change International, Indigenous Environmental Network, Honor the Earth, BankTrack, and Sierra Club with 350.org, 350 Eugene, 350 Seattle, Amazon Watch, Asia Pacific Forum on Women, Law and Development, Bank Information Center, Bold Alliance, Carrizo/Comecrudo Tribe of Texas, Catskill Mountainkeeper, CEE Bankwatch, Center for Sustainable Economy, CHANGE, Christian Aid, Citizens Against LNG, … Read More
“It’s time for Big Oil to take responsibility for the devastation they have wrought, that’s why New York City is making the unprecedented move to both sue and divest from fossil fuel companies.”
Big banks’ business as usual is killing the climate. From 2014 to 2016, big banks around the world poured $290 billion into extreme fossil fuel companies and failed to respect human rights.
Across North America and beyond, a growing movement of communities, tribes, and cities is pushing banks to divest from dirty pipelines – going directly after the money that enables the construction of new fossil fuel infrastructure. Now landowners in Virginia and West Virginia are opening up a new front in the push to #DefundPipelines.
Residents of Virginia and West Virginia opened up a new front today in their fight to stop the 301-mile Mountain Valley Pipeline: targeting the major U.S. ‘main street’ banks on tap to finance the fracked-gas project’s $3.5 billion price tag. The banks are identified in a new analysis released today by Oil Change International that examines how the pipeline will be financed.
This analysis examines the banks that are in line to finance the Mountain Valley Pipeline, a 301-mile, $3.5 billion fracked-gas project proposed to run from West Virginia through south central Virginia.