In spite of mounting concerns about threats to Indigenous communities and the global climate, JPMorgan Chase, Wells Fargo, and Crédit Agricole, along with 11 other banks, have doubled down on their support for tar sands pipelines, renewing a $1.41 billion line of credit to Enbridge, the company behind the controversial proposed Line 3 tar sands pipeline.
Today, international financial services company NN Group announced that it will withdraw funding for tar sands pipeline companies including TransCanada and Enbridge, the companies behind Keystone XL and Line 3, respectively, citing concerns about climate impact and human rights abuses associated with tar sands pipelines.
Today, on Indigenous People’s Day, Honor The Earth, Rainforest Action Network, Sierra Club, 350 Seattle, Friends of the Earth France, and others launched a campaign calling on JPMorgan Chase, Wells Fargo and French bank Crédit Agricole to end their participation in credit lines of nearly $4 billion dollars associated with Indigenous rights violations with major tar sands pipeline companies Enbridge and TransCanada.
Amid the growing chorus of condemnation for drilling in the Arctic region and specifically in the Arctic Refuge, Wells Fargo has been silent.
Today, Ireland’s government committed to divest its 8 billion-euro national investment fund from all coal, oil, and gas investments, making it the world’s first country to fully divest from fossil fuels.
A crowd of activists rallied today outside of a meeting of Bank of America’s shareholders and executives to call on the Charlotte-based bank to drop its financing of dirty and destructive fossil fuel projects.
A crowd of activists rallied today outside of a meeting of Wells Fargo’s shareholders and executives to call on the bank to drop its financing of dirty and destructive fossil fuel projects.
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 series of interventions at this year's bank shareholder meetings to pressure the banks to stop financing controversial oil and gas infrastructure projects.
The Securities and Exchange Commission (SEC) has reportedly taken unprecedented action on behalf of an oil company by blocking a shareholder resolution on climate change.
New York City Mayor Bill de Blasio announced a plan to divest the city’s $189 billion pension fund from fossil fuels within the next five years, making New York City the first major US pension plan to do so.
Despite mounting public opposition from a broad coalition of Indigenous and environmental groups, JPMorgan Chase and Wells Fargo renewed their participation in a set of loans totaling $1.5 billion to TransCanada, the company behind the Keystone XL tar sands pipeline.
Washington, DC -- Today, the World Bank announced that it will stop financing oil and gas exploration and extraction starting in 2019.
The announcement comes as financial institutions have come under increased scrutiny over their funding of dirty fossil fuels that are driving the climate crisis.