The ‘Dirty Dozen’ of the world’s banks, as Greenpeace describes them, are under mounting pressure to divest from fossil fuels. This follows a campaign calling on the list of banks to “to make stronger commitments when it comes to the financing of tar sands pipelines”, among other things. The list of banks includes: Barclays, JPMorgan Chase, Citi, Wells Fargo, Toronto Dominion, Royal Bank of Canada, Deutsche Bank, Credit Suisse, Bank of Tokyo Mitsubishi, Mizuho Bank, BBVA and Credit Agricole.
The petition already has over 150,000 signers.
These banks, in one way or another, have financial relationships with tar sands pipelines projects, related pipeline companies, and/or Energy Transfer Partners (ETP), the company behind the Dakota Access Pipeline (DAPL).
In addition to their financial relationship with tar sands pipeline companies, each of these banks has provided and/or arranged loans to ETP and related companies. Some continue to remain in the DAPL project loan, despite the controversies relating to the events at Standing Rock. Others stayed out of the project loan but continue to finance the company. We are pushing these banks to end their financial relationship with ETP and relevant subsidiaries.
This isn’t the first time a large campaign has been organised to pressure banks to stop funding fossil fuel projects, with HSBC the latest UK bank to take action.
*See how the UK’s banks rank for ethics by visiting the banking section of The Good Shopping Guide.