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Home › Dodgy Deals ›
Dodgy Deal
Coastal GasLink pipelineCanada

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Profile by:
BankTrack
Contact:

climate@banktrack.org

Last update: 2023-01-30 14:53:41
Route of the Coastal GasLink pipeline, box indicates Wet'suwet'en land. Photo: Wikimedia Commons (Alaney2k)

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Profile by:
BankTrack
Contact:

climate@banktrack.org

Last update: 2023-01-30 14:53:41
Why this profile?

Why this profile?

The Coastal GasLink pipeline that is currently under construction is heavily opposed by the Indigenous Wet'suwet'en Nation, whose land, water and community will be threatened by the pipeline's construction. New pipelines such as these are also incompatible with achieving the goals of the Paris Climate Agreement.

This project is also part of BankTrack's Tracking the Equator Principles campaign.

What must happen

Banks that finance the Coastal GasLink pipeline, either directly or indirectly, are facilitating Indigenous rights violations as well as environmental harm. Banks should refrain from financing the project itself as well as the companies behind it.

About
Sectors Pipeline Transportation of Natural Gas
Location
Status
Planning
Design
Agreement
Construction
Operation
Closure
Decommission
Website https://www.coastalgaslink.com/
This project has been identified as an Equator Project

The Coastal GasLink pipeline is a 670-kilometre pipeline currently under construction in British Columbia, Canada. The pipeline is intended to transport fracked gas from Dawson Creek to Kitimat. From there, LNG Canada will convert the gas into liquefied natural gas (LNG) for export to global markets. The project costs are estimated to be CAD 6.6 billion. The pipeline is expected to start operating in 2023 with an initial capacity of two to three billion cubic feet of gas per day. The pipeline has the capacity to expand to five billion cubic feet of gas per day.

Impacts

Impact on human rights and communities

Indigenous rights The Coastal GasLink pipeline currently under construction will run through the lands of the Wet'suwet'en nation. In violation of the United Nations Declaration on the Rights of Indigenous Peoples, Coastal GasLink did not receive free, prior and informed consent for the construction of the pipeline from the lands' title holders.

In the 1997 case Delgamuukw v. British Columbia, Canadian courts recognised that the hereditary chiefs are the title holders over the Wet'suwet'en nation's traditional lands, and thus have the authority and jurisdiction to make decisions about the lands. However, in order to get consent, the federal and national governments ignored the hereditary chiefs. Instead they went to the band councils who, according to the Delgamuukw case, do not have authority off-reserve.

For years already, the hereditary chiefs of the Wet'suwet'en nation are opposed to the Coastal GasLink pipeline and all other pipelines. When Coastal GasLink moved onto their lands, the hereditary chiefs asked them to leave. In response, Coastal GasLink obtained a court injunction to forcefully remove hereditary chiefs, Wet’suwet’en land defenders, and supporters from their own land.

In February 2020, following widespread solidary protests, a Memorandum of Understanding (MoU) was drafted by the Wet'suwet'en, provincial and federal governments. While the MoU recognises the authority of the hereditary chiefs, it does not address or resolve the dispute over the Coastal GasLink pipeline.

Environmental Assessment Certificate In February 2020, the hereditary chiefs of the Wet'suwet'en nation filed an application to the British Columbia (B.C.) Supreme Court, requesting a judicial review of the decision made by the Environmental Assessment Office (provincial agency that assesses major development proposals in British Columbia) to grant an extension to the Environmental Assessment Certificate for the Coastal GasLink pipeline. The chiefs argue that the extension, which was granted in October 2019, should not have been granted based on Coastal GasLink's non-compliance with the conditions of its permits (read more under 'environmental issues') as well as the findings of Canada's National Inquiry on Missing and Murdered Women (read more under 'gender aspects').

Industrial work camps Besides Coastal GasLink's noncompliance with conditions set out in its initial Environmental Assessment Certificate, in its application to B.C. Supreme Court the hereditary chiefs point to the results of an inquiry into the cases of Missing and Murdered Indigenous Women and Girls. The inquiry found that there is ''substantial evidence that natural resource projects [like Coastal GasLink] increase violence against Indigenous women and children and two-spirit individuals'' through the creation of 'man camps'. The inquiry calls for the ''government to do gender-based analysis of the impact of new resource projects''. According to the Wet'suwet'en, Coastal GasLink's 'Social and Economic Effects Management Plan' falls short and does not include such an analysis.

Health issues Physicians in Dawson Creek (where the natural gas that Coastal Gaslink will carry is fracked) recently warned of health issues related to fracking activities after seeing patients with symptoms they could not explain. These symptoms include nosebleeds, respiratory illnesses and rare cancer types which can be attributed to highly toxic chemicals like benzene, toluene, 2 butoxyethanol and heavy metals which seep into drinking water as a result of fracking. 


Impact on climate

It is expected that the Coastal GasLink pipeline will transport up to five billion cubic feet of natural gas every day when in operation. When burned, this natural gas is equivalent to the emission of 585.5 million pounds of CO2 every day. This corresponds to approximately 13% of Canada's daily greenhouse gas emissions in 2017. In general, all development of untapped fossil fuel sources is incompatible with the Paris climate agreement. Analysis by Oil Change International shows that the currently developed fossil fuel reserves for gas, oil and coal are already double the remaining carbon budget for a 50% chance of staying below 1.5°C of global warming.

An article published by Canada's National Observer in June 2020 report that the Canadian government is undermining its own climate goals by supporting pipeline projects such as the Coastal GasLink pipeline


Impact on nature and environment

Violations of environmental conditions According to the hereditary chiefs, Coastal GasLink does not comply with the conditions set out in the initial Environmental Assessment Certificate of 2014. In its inspection reports, the Environmental Assessment Office notes dozens of violations by Coastal GasLink in 2018 and 2019. The violations range ''from blocking Indigenous people from accessing their traplines to missing deadlines on commitments to conserve caribou and endangered plants''. In June 2020, the Environmental Assessment Office of British Columbia found that TC Energy had cleared a large stretch of protected wetland areas for construction without proper surveying and planning. These wetlands are of cultural and ecological importance for the Wet'suwet'en and also serve as habitats for various species at risk and many fish species, which have not been taken into account while determining the adverse impact of the Gaslink pipeline. Due to this, more than 42 wetlands have already been affected from the construction procedures and if the construction goes on without the development of site-specific mitigation strategies, more than 300 protected wetlands will be affected.

Pollution The Coastal GasLink pipeline will carry gas fracked from the Montney Shale Formation. Hydraulic fracturing, or fracking, is the technology being used to develop unconventional hydrocarbon reservoires. Scientific research shows that the employment of fracking negatively impacts public health, water, soil and air. The technique makes use of several dangerous chemicals that are released during the process causing pollution.

Diesel spills In June 2020, The Tyee reported that two fuel spills occurred on Wet'suwet'en territory. Both of the spills caused 500 litres of diesel to leak into the ground. One of the spills occurred at the Community-Industry Safety Office of the Royal Canadian Mounted Police (RCMP), which was set up to patrol pipeline protests in the area. The second spill occurred at a work camp for the Coastal GasLink pipeline. Both of these spills were not reported to the hereditary chiefs until days after the fact.


Impact on pandemics

Covid-19 While British Columbia extended its state of emergency, pipeline construction is allowed to continue as it is classified as an essential service by the provincial government. It is reported that even though there are less workers on-site, the workers remain in close proximity. The situation has caused fears of an outbreak. An article published on Ricochet explains how some Indigenous people are reminded of "the darkest episodes of North America’s violent colonial legacy, including the 1837–38 smallpox epidemic caused by infected blankets that white settlers gave to unsuspecting Native Americans.'' Makwala Smith, a protestor against the relevant legislation said: ''If our isolated communities start getting infected by the virus because of the coming and going of police and CGL workers, this would mean the continuation of the cultural genocide brought upon by racist attitudes and decades of colonialist policies that have been imposed on our people.'' In December 2020, a COVID-19 outbreak was reported in two accommodation sites for workers, infecting 27 people, who are said to have transmitted the virus in and between the sites. This further highlights the lack of safeguards that TC Energy has in place to curb the spread of the virus and protect its own workers. 

Financiers

In May 2020, it was reported that TC Energy (the company which previously fully owned and operated the project through its subsidiary TransCanada Pipelines) secured project financing for the Coastal GasLink pipeline. The project finance is estimated to cover up to 80% of the project costs. See below for the banks and financial institutions that provided this debt. Besides project finance, five commercial banks (Royal Bank of Canada, Bank of Montreal, Scotiabank, CIBC and TD Bank) have provided Coastal GasLink with working capital.

The remaining costs will be provided through equity by TC Energy. More information on who finances TC Energy can be found on the company's profile.

Institution type
Finance type
Year

Note: Sumitomo Mitsui Trust Holdings is listed as a financier by IJGlobal, but not by Bloomberg.

Companies

Initially, the Coastal GasLink pipeline project was fully owned by TransCanada Pipelines, a 100% subsidiary of TC Energy - which is also behind the controversial Keystone XL tar sands pipeline. In May, 2020, TC Energy closed a deal selling 65% of the project to investment firm Kohlberg Kravis Roberts & Co (KKR) and Alberta Investment Management Corporation (AIMCo). Big banks HSBC, TD, and Royal Bank of Canada helped make this ownership sale happen.

KKR is a publicly-traded American global investment firm headquartered in NYC, with USD $429 billion in assets under management as of June 2021. This purchase was made in partnership with South Korea’s state-run pension fund, the National Pension Service of Korea (NPS).

AIMCo manages USD $118 billion in assets on behalf of 32 Alberta pension, endowment, and government funds. It is a Crown corporation, which in this case means that it is owned by the government of Alberta.

Alberta Investment Management Corporation (AIMCo)

Canada
Website
Owns 32.5% in assets

Kohlberg Kravis Roberts & Co. (KKR)

United States
Website
Owns 32.5% in assets

TC Energy

Canada
Profile
Website
Owns 35% in assets
No companies
Governance
Bank policies
Norms & standards
Other regulations
The following bank investment policies apply to Coastal GasLink pipeline:
Royal Bank of Canada (RBC)
2019-11-25 00:00:00

Climate Blueprint

Bank policy
2019-11-25 00:00:00 | Royal Bank of Canada
2021-02-26 00:00:00

Environmental and social risk management

Date listed represents date as accessed on website
Bank policy
2021-02-26 00:00:00 | Royal Bank of Canada
Bank of Montreal (BMO)
2018-12-31 00:00:00

Statement on climate change

Bank policy
2018-12-31 00:00:00 | BMO
2020-03-09 00:00:00

Responsible lending policies

[Date listed represents date as accessed on website]
Bank policy
2020-03-09 00:00:00 | BMO
2020-12-14 00:00:00

Environmental Policy

Bank policy
2020-12-14 00:00:00 | Bank of Montreal
Scotiabank
2019-11-18 00:00:00

Climate commitments

Bank policy
2019-11-18 00:00:00 | Scotiabank
2021-11-02 00:00:00

Global human rights statement

Bank policy
2021-11-02 00:00:00 | Scotiabank
Canadian Imperial Bank of Commerce (CIBC)
2020-03-09 00:00:00

Lending and investment

Date listed represents date as accessed on website
Bank policy
2020-03-09 00:00:00 | CIBC
Toronto-Dominion Bank (TD Bank)
2019-06-24 00:00:00

Responsible Financing

Page 17 of TD's CSR report 2018
Bank policy
2019-06-24 00:00:00 | TD
JPMorgan Chase
2020-10-06 00:00:00

Paris-aligned financing commitment

Bank policy
2020-10-06 00:00:00 | JPMorgan Chase
2021-10-08 00:00:00

Environmental and social policy framework

Bank policy
2021-10-08 00:00:00 | JPMorgan Chase
Mizuho Financial Group
2020-03-30 00:00:00

Code of Conduct

Date listed represents date as accessed on website
Bank policy
2020-03-30 00:00:00 | Mizuho Financial Group
2021-02-25 00:00:00

Biodiversity policy

Date listed represents date as accessed on website
Bank policy
2021-02-25 00:00:00 | Mizuho Financial Group
Mitsubishi UFJ Financial Group (MUFG)
2021-05-17 00:00:00

Carbon neutrality declaration

Bank policy
2021-05-17 00:00:00 | MUFG
Sumitomo Mitsui Financial Group
2020-04-16 00:00:00

Revision of ESG financing policies

Bank policy
2020-04-16 00:00:00 | Sumitomo Mitsui Banking Corporation
2021-01-14 00:00:00

Management of environmental risks

Date listed represents date as accessed on website
Bank policy
2021-01-14 00:00:00 | Sumitomo Mitsui Financial Group
2021-01-14 00:00:00

Environmental policy

Date listed represents date as accessed on website
Bank policy
2021-01-14 00:00:00 | SMBC
2021-05-12 00:00:00

Reinforcing efforts against climate change

Bank policy
2021-05-12 00:00:00 | SMBC
Truist Financial Corporation
2018-10-12 00:00:00

Code of Business Conduct and Ethics

Bank policy
2018-10-12 00:00:00 | SunTrust Bank
China Construction Bank
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China
2021-04-01 00:00:00

Green, Social, Sustainability and Sustainability-Linked (“GSSS”) Bond Framework

Bank policy
2021-04-01 00:00:00 | China Construction Bank
Bank of China
2019-04-01 00:00:00

Environmental policy

Bank policy
2019-04-01 00:00:00 | Bank of China Hong Kong
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China
2021-09-14 00:00:00

Environmental and social responsibilities

Bank policy
2021-09-14 00:00:00 | Bank of China
CaixaBank
2019-02-28 00:00:00

Environmental risk management policy

Bank policy
2019-02-28 00:00:00 | CaixaBank
2020-05-31 00:00:00

Environmental and Energy Management Principles

Bank policy
2020-05-31 00:00:00 | CaixaBank
KfW IPEX-Bank
2010-06-02 00:00:00

Environmental and Social Principles

Bank policy
2010-06-02 00:00:00 | KfW Group
KB Financial Group
2021-11-04 00:00:00

Human rights policy

Bank policy
2021-11-04 00:00:00 | KB Financial Group
2021-10-19 00:00:00

Environmental and social risk policy framework

Bank policy
2021-10-19 00:00:00 | KB Financial Group
Industrial and Commercial Bank of China (ICBC)
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China
2021-09-17 00:00:00

Credit policies for domestic industries: mining, energy, oil & gas, transportation, biodiversity and agriculture

Page 12 of 2021 interim ESG report
Bank policy
2021-09-17 00:00:00 | ICBC
United Overseas Bank (UOB)
2021-08-26 00:00:00

Responsible financing

Date listed represents date as accessed on website
Bank policy
2021-08-26 00:00:00 | UOB
National Australia Bank (NAB)
2021-02-25 00:00:00

Climate change commitments

Date listed represents date as accessed on website
Bank policy
2021-02-25 00:00:00 | NAB
2021-02-25 00:00:00

ESG Risk Management

Date listed represents date as accessed on website
Bank policy
2021-02-25 00:00:00 | NAB
Sumitomo Mitsui Trust Holdings
2020-03-31 00:00:00

Notice regarding review of policies and views on environmental/social considerations for loans

Bank policy
2020-03-31 00:00:00 | Sumitomo Mitsui Trust Holdings
2020-04-28 00:00:00

Environmental Policy

Date listed represents date as accessed on website
Bank policy
2020-04-28 00:00:00 | SMTH
2020-04-28 00:00:00

Sustainability Policy

Date listed represents date as accessed on website
Bank policy
2020-04-28 00:00:00 | SMTH

Applicable norms and standards

Equator Principles
Principles for Responsible Banking (PRB)
The Paris Agreement
UN Guiding Principles on Business and Human Rights
United Nations Declaration on the Rights of Indigenous Peoples

Environmental Assessment Act of British Columbia, Canada

News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

RBC on the defensive at its AGM as movement-led demands yield wins

Canada’s top fossil bank continues to violate Indigenous rights, global human rights while massively investing in fossil fuels
2024-04-11 | Toronto (on Traditional territory of the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat Peoples) | Fossil Free RBC
BankTrack news BankTrack blog Partner news Partner blog

Canada’s RBC Struggles to Go Green While Financing Oil

Royal Bank of Canada’s travails show the fine line banks must walk in shifting toward a lower-carbon future.
2024-04-03 | Bloomberg
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bank of America: funding fossil fuel expansion during time of climate crisis is a violation of human rights

Shocking new report details the human rights impact of the banking giant’s fossil fuel funding
2023-11-07 | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Canadian bank RBC the #1 financier of fossil fuels, world’s biggest banks continued to pour billions into fossil fuel expansion

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
2023-04-13 | San Francisco | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

TC Energy sees higher costs for troubled Coastal GasLink pipeline

2022-11-29 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Canada’s Competition Bureau opens investigation into RBC’s alleged misleading advertising on climate action

Decision comes ahead of COP27, following six members of the public, supported by environmental groups, filing complaint earlier this year
2022-10-11 | Ottawa/Traditional, Unceded territory of the Algonquin Anishnaabeg People | Stand.earth
BankTrack news BankTrack blog Partner news Partner blog

Mounties spent $950K on winter operations for Coastal GasLink

RCMP group planned to raid activist camp even though pipeline workers had gone home for the holidays, internal documents show
2022-04-12 | APTN News
Blog
BankTrack news BankTrack blog Partner news Partner blog

At Royal Bank of Canada shareholder meeting, Wet’suwet’en Hereditary Chiefs call for an end to fossil fuel finance

Kicking-off shareholder season, Indigenous land defenders, climate finance experts, youth activists ramp up pressure on RBC
2022-04-07 | Traditional territories of the Ho-de-no-sau-nee-ga (Haudenosaunee), Anishinabewaki ᐊᓂᔑᓈᐯᐗᑭ, Mississaugas of the Credit First Nation, Mississauga, and Wendake-Nionwentsïo First Nations (so-called Toronto, Ontario, Canada) | Stand.earth
Blog
BankTrack news BankTrack blog Partner news Partner blog

Royal Bank of Canada abruptly cancels in-person portion of AGM as Wet’suwet’en Chiefs travel to confront bank’s funding of Coastal GasLink pipeline

Canada’s largest bank ducks accountability, attempts to avoid criticism of fossil fuel financing
2022-04-06 | Traditional territories of the Ho-de-no-sau-nee-ga (Haudenosaunee), Anishinabewaki ᐊᓂᔑᓈᐯᐗᑭ, Mississaugas of the Credit First Nation, Mississauga, and Wendake-Nionwentsïo First Nations (so-called Toronto, Ontario, Canada) | Stand.earth
BankTrack news BankTrack blog Partner news Partner blog

Case study: Coastal GasLink pipeline at a glance

US Pensions' role in financing nearly $350 million in companies behind dangerous project blatantly ignoring Indigenous rights
2022-03-24 | Stand.earth
BankTrack news BankTrack blog Partner news Partner blog

Dozens of celebrities sign petition calling on RBC to stop financing Coastal GasLink pipeline in B.C.

Dozens of celebrities have signed a petition calling on the Royal Bank of Canada to stop financing the Coastal GasLink pipeline project in northern B.C.
2022-03-17 | CTV News
BankTrack news BankTrack blog Partner news Partner blog

Indigenous groups sign option to buy 10% ownership stake in Coastal GasLink pipeline

2022-03-09 | Financial Post
BankTrack news BankTrack blog Partner news Partner blog

Tracking what we know — and don’t know — about the attack on a Coastal GasLink worksite

Following millions of dollars in estimated damages at a natural gas pipeline worksite in northwest B.C., no arrests have been made and many questions remain
2022-02-24 | The Narwhal
BankTrack news BankTrack blog Partner news Partner blog

Canadian government condemns attack on Coastal Gaslink Pipeline work camp

Last month, workers at a remote Coastal GasLink work camp near the Morice River were allegedly attacked by around 20 masked intruders in an incident which resulted in millions of dollars in damage to equipment
2022-02-18 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Coastal GasLink pipeline to go ‘significantly’ over budget: TC Energy

TC Energy continues to expect to go “significantly” over budget for the project and will also deliver a delayed completion date
2022-02-15 | Global News
BankTrack news BankTrack blog Partner news Partner blog

Wet’suwet’en to continue resistance after latest RCMP raid

Spokesperson Sleydo’ says judge is restricting her movements on the territory just like an Indian agent would
2021-12-31 | Indian Country Today
BankTrack news BankTrack blog Partner news Partner blog

Wet’suwet’en hereditary chief takes fight against Coastal GasLink all the way to the banks

2021-12-20 | National Observer
BankTrack news BankTrack blog Partner news Partner blog

The Equator Principles are not stopping banks from funding fossil fuels

Following their new report, Hannah Greep from BankTrack discusses how The Equator Principles are failing the climate.
BankTrack mentioned
2021-11-23 | Economy, Land and Climate Insight
BankTrack news BankTrack blog Partner news Partner blog

RCMP Arrest 14, Clear Blockade of Pipeline Work Camps

UBCIC denounces ‘military-style raid’ on protests on Wet’suwet’en territory as supplies flow into Coastal GasLink camps.
2021-11-19 | TheTyee.ca
BankTrack news BankTrack blog Partner news Partner blog

Hundreds Take Over Pipeline Company Office in Toronto

Hundreds take over pipeline company office in Toronto in support of eviction of Coastal Gaslink, as RCMP (Royal Canadian Mounted Police) invade, make mass arrests on Wet’suwet’en Territory
2021-11-19 | World BEYOND War
Blog
BankTrack news BankTrack blog Partner news Partner blog

Glasgow wrap-up: updates from banks and civil society at COP26

With COP26 behind us, it’s as clear as ever before that banks must act urgently to help achieve the goal of limiting global warming to 1.5 C.
2021-11-17 | Nijmegen | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

How green is your bank? New research says banks still fund fossil fuel projects

BankTrack mentioned
2021-11-06 | Canada | The Weather Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

JBIC and private banks must reconsider decision to finance LNG Canada project

NGOs strongly condemn JBIC’s decision to provide public finance that ignores climate crisis and rights of Indigenous peoples ahead of COP 26
2021-10-29 | 350.org Japan, Friends of the Earth Japan, JACSES, Kiko Network, Mekong Watch
Blog
BankTrack news BankTrack blog Partner news Partner blog

Equator Banks involved in financing at least 200 fossil fuel projects since Paris

BankTrack research sheds new light on finance for fossil fuels by Equator banks
2021-10-26 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

NAB targeted by Indigenous group over stake in Canadian pipeline

BankTrack mentioned
2021-10-20 | The Sydney Morning Herald
Blog
BankTrack news BankTrack blog Partner news Partner blog

Wet'suwet'en chiefs demand investors and financiers of Coastal Gaslink to divest from this and all future pipeline projects

Indigenous-led campaign, endorsed by 100+ groups, urges global investors and banks to divest from and stop financing Coastal GasLink and LNG Canada
2021-10-19 | Unceded xʷməθkʷəy̓ əm, Sḵwx̱wú7mesh and səlilwətaɬ territories (Vancouver, Canada) | Gidimt
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report: Indigenous resistance disrupts billions of tons of greenhouse gas emissions annually

2021-09-01 | Indigenous Environmental Network, Oil Change International
BankTrack news BankTrack blog Partner news Partner blog

TC Energy warns Coastal GasLink pipeline dispute could impact construction

2021-07-29 | Calgary | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Intesa Sanpaolo adopts a disappointing new policy on coal and unconventional oil & gas

Last Tuesday, Italia's largest bank released its updated policy on fossil fuel financing, Greenpeace Italy and ReCommon react with disappointment
2021-07-28 | Rome | Greenpeace Italy, ReCommon
BankTrack news BankTrack blog Partner news Partner blog

Canada is burning, and our banks are fanning the flames

Canada’s big banks are financing the climate crisis through their fossil fuel lending, argues Richard Brooks
2021-07-13 | Responsible Investor
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

LNG Canada, TC Energy disagree on cost overruns for $6.6-billion Coastal GasLink pipeline

TC Energy now signalling that it intends to negotiate higher tolls on the pipeline
2021-03-01 | Financial Post
BankTrack news BankTrack blog Partner news Partner blog

Demonstrators protest banks’ funding fossil fuels

2021-01-29 | Radio Canada International
BankTrack news BankTrack blog Partner news Partner blog

UN committee rebukes Canada for failing to get Indigenous Peoples’ consent for industrial projects

One of the world’s leading human rights bodies calls for work to stop on Coastal GasLink pipeline, Trans Mountain pipeline and Site C dam, saying Canada is failing to comply with international law
2021-01-15 | The Narwhal
BankTrack news BankTrack blog Partner news Partner blog

Northern Health declares COVID-19 outbreak among Coastal GasLink pipeline workers

2020-12-21 | The Canadian Press
BankTrack news BankTrack blog Partner news Partner blog

Coastal GasLink meter station nears completion in Kitimat

2020-12-07 | Northern Sentinel
BankTrack news BankTrack blog Partner news Partner blog

Progress in Coastal GasLink pipeline installation

2020-10-21 | Prince George Matters
BankTrack news BankTrack blog Partner news Partner blog

RCMP spent more than $13M on policing Coastal GasLink conflict on Wet'suwet'en territory

2020-10-21 | CBC News
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Women’s Divestment Delegation pushes Deutsche Bank for fossil fuel divestment amidst pipeline shutdowns, a global pandemic and the climate crisis

2020-07-16 | San Francisco Bay Area | Divest Invest Protect, WECAN
BankTrack news BankTrack blog Partner news Partner blog

Security Camera Captures Heavily Armed RCMP at Wet’suwet’en Cultural Site

RCMP have no reason to carry assault weapons or even be at the newly constructed smokehouse, say spokespersons
2020-06-29 | The Tyee
BankTrack news BankTrack blog Partner news Partner blog

Coastal GasLink to lay first pipe in July as pipeline construction ramps up

2020-06-17 | Global News
BankTrack news BankTrack blog Partner news Partner blog

Canada undermining its own climate goals by supporting pipeline projects: Report

2020-06-10 | Canada's National Observer
BankTrack news BankTrack blog Partner news Partner blog

RCMP, Pipeline Firm Spill Fuel on Wet’suwet’en Territory

2020-06-04 | The Tyee
BankTrack news BankTrack blog Partner news Partner blog

Wet’suwet’en Traditional Land Rights Finally Recognized

2020-06-03 | Forget the Box
BankTrack news BankTrack blog Partner news Partner blog

Coastal GasLink pipeline construction continues during pandemic — and so does resistance

2020-05-06 | Ricochet
BankTrack news BankTrack blog Partner news Partner blog

‘A dangerous road’: Coastal GasLink pays to kill wolves in endangered caribou habitat in B.C. interior

2020-04-13 | The Narwhal
BankTrack news BankTrack blog Partner news Partner blog

The Pipeline and the Pandemic: ‘The Biggest Risk We’ve Got Right Now’

Union of BC Indian Chiefs calls for Coastal GasLink to halt work to reduce COVID-19 threat
2020-03-31 | The Tyee
BankTrack news BankTrack blog Partner news Partner blog

There’s Still No Deal in Wet’suwet’en But Pipeline Construction Is Ongoing

2020-03-25 | VICE
BankTrack news BankTrack blog Partner news Partner blog

Coastal GasLink broke B.C. pipeline rules more than 50 times

2020-03-09 | Canada's National Observer
BankTrack news BankTrack blog Partner news Partner blog

To understand B.C.’s push for the Coastal GasLink pipeline, think fracking, LNG Canada and the Site C dam

2020-03-03 | The Narwhal
BankTrack news BankTrack blog Partner news Partner blog

Canada: Wet’suwet’en and ministers agree tentative deal in land dispute

2020-03-02 | Toronto | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Understanding the Wet'suwet'en struggle in Canada

2020-03-02 | Al Jazeera
BankTrack news BankTrack blog Partner news Partner blog

B.C. environmental agency puts portion of Coastal Gaslink pipeline on hold

2020-02-21 | APTN National News
BankTrack news BankTrack blog Partner news Partner blog

Who’s banking the Coastal GasLink pipeline?

2020-02-19 | Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Environmental Assessment Office granted extension to Coastal GasLink project based on ‘irrelevant political promises,’ Wet’suwet’en claim in court

2020-02-14 | Business in Vancouver (BiV)
BankTrack news BankTrack blog Partner news Partner blog

RCMP arrests in Wet'suwet'en territory spark protests nationwide

2020-02-10 | CBC
BankTrack news BankTrack blog Partner news Partner blog

Jordan Hollarsmith: B.C. cannot afford the Coastal GasLink pipeline

2020-01-22 | The Province
BankTrack news BankTrack blog Partner news Partner blog

Pipeline 'man camps' loom over B.C.'s Highway of Tears

2017-09-21 | Canada's National Observer
Resources
Documents
Videos
Links
2023-04-13 00:00:00

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
BankTrack publication
2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald
2021-11-21 00:00:00

Coastal Gaslink: A pipeline without Indigenous consent

NGO document
2021-11-21 00:00:00 | Stand.earth
2019-12-31 00:00:00

Coastal GasLink Pipeline Ltd. v. Huson

Injunction decision
Other document
2019-12-31 00:00:00 | Supreme Court of British Columbia
2014-10-06 00:00:00

Coastal GasLink pipeline project

Table of conditions for an environmental assessment certificate
Other document
2014-10-06 00:00:00 | British Columbia Environmental Assessment Office
2012-10-30 00:00:00

Coastal GasLink pipeline - Project Description

Company document
2012-10-30 00:00:00 | Coastal GasLink
2020-02-29 00:00:00

Memorandum of Understanding

Between Canada, British Columbia and Wet'suwet'en
Other document
2020-02-29 00:00:00

Wet'suwet'en Hereditary Chiefs Reject Pipelines

2020-06-03 10:28:24

Thousands rally for Wet'suwet'en solidarity

2020-04-20 16:31:16

Video links

https://globalnews.ca/video/rd/883ee13a-a593-11ec-8e2b-0242ac110002/?jwsource=cl

Wet’suwet’en Supporter Toolkit 2020

Toolkit developed by Unist'ot'en

Wet'suwet'en Info Session

Take the Pledge: We Pledge to Stand with Unist'ot'en

Wet’suwet’en Resistance: 2021 Recap

Sign the petition to protect Indigenous Sovereignty

Demand fossil fuel profiteers JPMorgan Chase and Kohlberg Kravis Roberts & Co. defund the Coastal Gaslink Pipeline

Indigenous-led campaign, endorsed by 100+ groups, urges global investors and banks to divest from and stop financing Coastal GasLink and LNG Canada

Financing violates racial justice commitments and reconciliation; Campaign builds on TMX campaign that saw 16 insurers drop the project

No More Dirty Banks

City National is Hollywood's "Bank to the Stars". City National's parent company, the Royal Bank of Canada, is financing violations of Indigenous rights.

Film and music stars are calling on City National Bank's parent company, RBC, to stop funding these violations.

Take action and add your voice.

NAB refinances the climate-wrecking Coastal GasLink pipeline

Updates

2022

2022-03-23 00:00:00 | Construction update - Coastal Gaslink

Construction activities steadily progress (overal construction progress is at 52.2%) spring breakup nears - the time of year when field construction work is reduced due to soft, thawing ground conditions caused by melting snow.

Construction of the pipeline is divided into 8 sections. Section 1 is almost complete with 100% of grading completed and 99.4% of pipe installed. Section 2 has 85.9% of grading completed and 28.7% of pipe installed. Section 3 has 62.5% of grading completed and 55.2% of pipe installed. Section 4 has 100% of grading completed and 99.7% of pipe installed. Section 5 has 88.5% of grading completed and 39.6% of pipe installed. Section 6 has 84.7% of grading completed and 36% of pipe installed. In section 7, 96.6% of the project site has been cleared resulting in 11.2% of grading to be completed and 0% of pipe installed. Section 8 has 72.2% of grading completed and 29.8% of pipe installed.

2022-03-09 00:00:00 | Indigenous groups sign option to buy 10% ownership stake in Coastal GasLink pipeline

Two groups representing the interests of more than a dozen First Nation communities along the Coastal GasLink pipeline route have signed option agreements to acquire a 10 per cent ownership stake in the $6.7-billion project in northern British Columbia.

The equity option for Coastal GasLink, which is still under construction, will be exercisable once the pipeline is commercially in service sometime in 2023.

The agreements, announced March 9, would allow First Nations groups to become owners in Costal GasLink alongside the Alberta Investment Management Corporation (AIMCo), private equity giant KKR, and TC Energy Corp.

Chief Corrina Leween of Cheslatta Carrier Nation said she’s hopeful that the resulting revenues will help First Nations invest in infrastructure and community resources like daycares and elder care. “We’ve never had the opportunity before to participate in ownership of a major project that crosses our territory”, she said in an interview.

2022-02-23 00:00:00 | Construction update - Coastal Gaslink

According to Coastal Gaslink, overall project progress surpassed 60 per cent completion. The construction progess is at 50.3% . This year, they will begin to complete pipe installation.

2020

2020-07-07 00:00:00 | Construction comes to a halt due to non-compliance

In June 2020, due to non-compliance with management and survey guidelines, the Environmental Assessment Office ordered TC Energy to cease all construction operations within 30 meters of wetland areas that were designated as socioeconomically important, until a proper survey and planning is undertaken by the company.

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