The pressure on US Bank to end its relationship with oil and gas pipeline companies has been mounting over the last five months. Late last year, dozens of groups sent the bank a letter, demanding an end to its financing of Energy Transfer Partners (ETP). Instead, US Bank doubled down and joined a massive new … Read More
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.
Yesterday, a delegation from the StopETP coalition demonstrated outside the Ethisphere gala, an annual event honoring “the world’s most ethical companies.” Amazingly, U.S. Bank was among the honorees this year – despite their deeply hypocritical and deceitful lending practices in the pipeline and energy sector. At last year’s Annual General Meeting, U.S. Bank CEO Andrew … Read More
Last week, the national spotlight was on Minneapolis for Super Bowl Sunday, where the Philadelphia Eagles pulled out a close victory over the New England Patriots. But much of the local spotlight in Minnesota was on the streets, where hundreds of activists braved frigid temperatures and blinding snow for a series of actions demanding the … Read More
Here’s the letter we sent to US Bank outlining concerns about Energy Transfer Partners. And here’s the response from the bank.
When ETP announced it was going to refinance its debt last November, our ears perked up. Amid the resistance to Dakota Access, several of ETP’s lenders said they wouldn’t renew their loans. Now that the dust had settled at Standing Rock, would the banks follow through? Neither ING nor DNB joined ETP’s new $5 billion … Read More
Desmog summarizes the latest developments with US Bank. At a shareholder meeting this past spring, U.S. Bank announced it would be the first large American bank to completely stop issuing loans for oil and gas pipeline construction projects. Environmental groups, indigenous activists, and divestment advocates hailed U.S. Bank’s announcement as a triumph. Yet that triumph — and … Read More