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open pit tar sands mine
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last update: Jul 13, 2010
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printCanadian Tar Sands - Canada location
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Brant Olson Rainforest Action Network United States 415-398-4404 working partners
Tell RBC to Cease and Desist Financing Tar Sand Exploration in Canada
The McClelland Fen is a unique patterned wetland vital for migratory birds which is under threat from oil sands expansion.
sector
oil and gas
description
In the Canadian Boreal forest just downstream of the eastern foothills of the Rocky Mountains are the Canadian tar sands. The region contains some 2 trillion barrels of oil, but getting to it will mean destroying an area larger than the state of Florida. Tar sands consist of heavy crude oil mixed with sand, clay and bitumen. Extraction entails burning natural gas to generate enough heat and steam to melt the oil out of the sand. As many as five barrels of water are needed to produce a single barrel of oil. Tar sands oil is the worst type of oil for the climate, producing three times the greenhouse gas emissions of conventionally produced oil because of the energy required to extract and process tar sands oil. Communities downstream from the tar sands mines report elevated levels of cancer that they blame on toxic contamination of the Athabasca River. current status (Jan 31, 2010)
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In Canada, the toxic burden on communities near the tar sands is already enormous. In addition to direct human exposure, oil contamination in the local watershed has led to arsenic in moose meat—a dietary staple for First Nations peoples—up to 33 times acceptable levels. Deformed fish have been found in nearby Lake Athabasca; drinking water has been contaminated; and a huge swath of the vibrant Boreal forest is being transformed into a toxic moonscape. One of the largest dams in the world is restraining a giant reservoir filled with toxic sludge from processing tar sands into oil. Processing tar sands oil means more asthma and respiratory diseases, more cancer, and more cardiovascular problems. Contaminated wastewater, containing arsenic, mercury and various carcinogens, has already been linked to elevated rates of cancer in downstream First Nations communities. environment
Greenhouse gas emissions Forests & Water human rights
Communities including the Athabasca Chipewyan, Mikisew Cree, Chipewyan Prairie Dene, Woodland Cree, Beaver Lake Cree, and Fort Mackay First Nations have all files lawsuits over runaway tar sands developments. failure to obtain free, prior and informed consent of these communities creates substantial material risks to continued developmentin the tar sands. financial institutions involved
banks
Barclays
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BMO Financial Group
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BNP Paribas
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CIBC
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Citigroup
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Crédit Agricole CIB
Credit Suisse Group
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Deutsche Bank
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HSBC Group
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ING Group
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Intesa Sanpaolo
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JPMorgan Chase
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Mizuho
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Rabobank
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Royal Bank of Canada
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Royal Bank of Scotland
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Scotia Bank
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Société Générale
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Standard Chartered
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Sumitomo Mitsui Banking Corporation
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TD bank Financial Group
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Wells Fargo
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WestLB AG
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applicable policies
The Equator Principles are generally not applicable to financing in the tar sands! what must happen
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