US BANK: #DEFUNDETP
US Bank, after promising to stop funding oil and gas pipelines, quietly helped to finance a $5 Billion line of credit to ETP. Tell US Bank to join lenders already backing away from ETP and its reckless pipelines:
US Bank Promised to Stop Funding Pipelines.
Last spring, responding to pressure on the Dakota Access Pipeline, US Bank CEO Andrew Cecere won praise from Indigenous and climate advocates when he promised shareholders that US Bank would stop lending to oil and gas pipelines.
Eight Months Later, it Broke That Promise.
In the closing weeks of 2017, US Bank quietly signed onto a $5 billion credit arrangement with Energy Transfer Partners (ETP), the company behind the Dakota Access Pipeline, that is now building more than 1,200 miles of pipelines throughout the U.S.
Campaign Blogs & Press Releases
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 MoreRead More
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 MoreRead More