Since Kinder Morgan Canada Limited acknowledged on April 8 that the Trans Mountain Expansion Project (TMEP) may be cancelled because of stakeholder objections, attention has focused on the need to overcome the difficulties posed to the project by the government of British Columbia by the May 31 deadline imposed by the company. However, the risks facing TMEP go beyond permitting difficulties in B.C. and are unlikely to be resolved by the end of May. Greenpeace has published a new briefing outlining the intensifying opposition to (TMEP) from a diverse…

HSBC's new energy finance policy which has been published today sees the bank taking additional steps to align its energy financing with global climate change commitments. [1] The bank has pledged to no longer provide financial services for both offshore oil and gas projects in the Arctic and new tar sands projects. HSBC has also pledged to end financing for new coal plant projects globally, but with the significant caveat that it may choose to finance such coal plant investments in Bangladesh, Indonesia and Vietnam, up to the end…

New evidence shows that two European banks were at the centre of the apartheid era international arms money laundering machinery. For nearly two decades, Belgium’s Kredietbank and its subsidiary in Luxembourg (KBL) were responsible for facilitating up to 70% of all illegal arms transactions that allowed the apartheid government to secretly buy weapons despite mandatory UN arms sanctions. These and other banks have never been held accountable for what a leading international bribery expert describes as ‘one of the most important global…

As the sound of chainsaws shatters the peace along much of the 600-mile route of the Atlantic Coast Pipeline (ACP) in West Virginia, Virginia and North Carolina, Bank of America’s (BOA) shareholders and executives will meet in Charlotte, NC next week for the company’s annual general meeting (AGM). Among the shareholders, few may be aware of the bank’s leading role in financing the disaster that is ACP. But impacted landowners and Indigenous community leaders from North Carolina will be there to set them straight, and…

Since revising its environmental policy last year, US Bank financed more than $2 billion to companies building oil and gas pipelines, including an estimated $480 million to Energy Transfer Partners, new analysis released today by Oil Change International concludes. US Bank CEO Andrew Cecere won praise from indigenous rights and climate advocates in April 2017 when he announced to shareholders that US Bank would “not finance the construction of oil and gas pipelines.” Days later, US Bank issued a revised environmental policy significantly…