In a year in which the Covid-19 pandemic tore through our society, the importance of carefully assessing the impact of proposed infrastructure projects on communities, the environment and climate prior to a decision to proceed has never been clearer. However, although the Equator Principles (EPs) have been in place for seventeen years now, our research this year has shown there is still much work to do to improve their effectiveness in protecting the rights and interests of communities and preventing adverse environmental impacts. This year saw the launch of the newest iteration of the Principles, EP4 - the result of a review process which BankTrack, along with many other organisations that made up the ‘Equator Banks, Act!’ campaign coalition, pushed hard for. However, the revision made only minor improvements, falling far short of our vision of an EPs that finally deliver on protecting human rights and the climate. Since nobody will be contemplating drafting EP5 any time soon, in 2020 we refocused our efforts on assessing whether the Principles in place are effectively implemented, and what changes can be made within the scope of EP4 to make sure they meet the promise of ensuring large-scale project finance takes place with respect for the rights of affected communities. “Trust Us, We’re Equator Banks” Part I & II Our research focused on two of the most significant commitments in the Equator Principles for safeguarding project-affected communities: ensuring they are adequately consulted (following…

While the Paris climate agreement turned 5 this weekend and people around the world demanded action for the time lost and promises unfulfilled, across the US Indigenous and environmental groups took to the streets to demand banks stop funding Enbridge and Line 3. Actions were organised in over 50 cities across the country including Seattle, Portland, Washington, St Paul and Minneapolis, with activists delivering letters to the funders of Enbridge. Stop the Money Pipeline made this great video about the Day of Action.   Just days earlier the Canadian company Enbridge started construction on the Minnesota stretch of the Line 3 replacement project. But although construction has now started, protests continue, there are still lawsuits pending, and Enbridge will face ongoing resistance. In the meantime, major banks are still funding Enbridge, facilitating the construction of Line 3. They too are under increasing pressure from activists including local Indigenous groups to end their financing of the Enbridge and  all other tar sands projects. #Portland Oregon showed up outside Chase branches today with a fire truck hung with a banner, "Chase: We need action, not words! Defund Fossil Fuels!"#StopLine3 #StopTheMoneyPipeline pic.twitter.com/L80lkobNc0 — Stop the Money Pipeline (@StopMoneyPipe) December 12, 2020 Another problematic pipeline With the Line 3 Replacement Project, Enbridge wants to modernize the existing Line 3 pipeline, which transports tar sands from Alberta in Canada to Wisconsin in the US.…