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Home › Dodgy Deals ›
Dodgy Deal
Trans Mountain Pipeline Expansion project (TMEP)Canada

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2023-01-30 16:58:50
Stop Kinder Morgan March and Traffic on Cambie Bridge, Vancouver, November 2016. Photo: Kent Lins via Flickr (CC BY-SA 3.0)

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2023-01-30 16:58:50
Why this profile?

What must happen

Private sector banks should refuse any future opportunity to finance this project, or provide financial services to this company, whether under government or private sector control.

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

The Trans Mountain Pipeline Expansion project, an expansion of the original Trans Mountain Pipeline (built in 1951), is a 1,150 km pipeline between Strathcona County, Alberta and Burnaby, BC. in Canada. The pipeline is the only West Coast link for Western Canadian oil. The expansion (in the form of a parallel pipeline) is expected to almost triple the capacity of the system, taking an additional 590,000 barrels of crude oil from the Alberta tar sands each day to the Burnaby refinery on Vancouver Harbor. From there, the oil would be loaded onto supertankers to be shipped out across the Pacific. The projected capital costs were CAD 12.6 billion, but have skyrocketed to CAD 21.4 billion due to delays resulting from widespread and powerful opposition. 

Impacts

Impact on human rights and communities

The Trans Mountain Pipeline expansion poses a grave threat to Indigenous people, as described in this letter written by several NGOs and groups of Indigenous people to 28 banks who were, at the time, involved in financing the project. The parallels with the struggle over the Dakota Access Pipeline are clear, leading to questions about whether the Trans Mountain conflict may become the “Standing Rock of the North.”

The Trans Mountain project does not have the Free, Prior and Informed Consent (FPIC) of the Indigenous people it will affect. First Nations groups that would be directly impacted by the route and port terminal are fighting the project in the courts and leading heated protests on the ground. As of July 2019, Tsleil-Waututh Nation, Squamish Nation, Ts’elxweyeqw tribes, Shxw’owhamel Nation, Coldwater Indian Band and Stk’emlupsemc te Secwepemc Nation were involved in multiple legal challenges to the pipeline’s construction. and direct action campaigns have been ongoing. The Tsleil-Waututh established a “Watch House” on their territory to monitor and resist construction; Secwepemc women have established the “Tiny House Warriors,” small, mobile houses built to reoccupy Secwepemc territory and prevent pipeline construction. The Tiny House Warriors are a group of Secwepemc and Ktunaxa people positioned along the route to peacefully protest Trans Mountain from crossing unceded Secwepemc Territory. This group of primarily women was violently attacked in April, 2020 and their memorial of red dresses for missing and murdered Indigenous women and girls was destroyed. Detailed reports, such as Standing Rock of the North and Assessment of the Trans Mountain Pipeline and Tanker Expansion Proposal outline, in detail, crucial elements of Indigenous opposition to the project.

In December 2019, a cease and desist order for TMX was sent from the United Nations Committee for the  Elimination of Racial Discrimination to Canada.396 The committee explicitly expressed that: “by the refusal [of Canada] to consider Free, Prior and Informed Consent [FPIC] as a requirement for any measure, such as large-scale development projects, that [Canada] may cause irreparable harm to indigenous peoples rights, culture, lands, territories and way of life.”The government has not taken any action. Since then, TMC has entered Indigenous Mutual Benefits Agreements with 69 First Nations but disregards other Indigenous People and does not once refer to the FPIC. In reaction, Indigenous People are more determined than ever to own a share of the Pipeline to ensure their rights are protected. 

Projects like TMEP pose particular risks for Indigenous women. Construction work is impacting environmental features integral to Indigenous women’s identity and culture by harming their sacred relationship to both water and Mother Earth. The temporary male housing sites used for pipeline construction workers (called "man camps") are linked to increased abuse and safety threats to Indigenous women, girls and two-spirit people, contributing to the Missing and Murdered Indigenous Women, Girls and Two-Spirit People epidemic. The housing of mostly out-of-state workers in the camps poses additional risks in the context of the Covid-19 pandemic.

As noted by the Treaty Alliance Against the Tar Sands, the expansion of the Canadian tar sands would lead to increased destruction and poisoning of lands, waters and air on Indigenous territory.  There is widespread opposition to tar sands expansion among these groups, who are committed to fighting the pipelines which make such expansion profitable.


Impact on climate

The extraction and refinement of oil sands release copious amounts of greenhouse gases. Oil sands are difficult to remove from the ground and must be upgraded into synthetic crude to be useful. Producing a single barrel of synthetic oil may release up to three times as much carbon dioxide as producing a barrel of conventional crude. The expansion project would triple the pipeline's transport capacity to 890,000 barrels per day. 

For Canada to fully exploit its oil sands resources and still meet its climate goals, according to one study, the country would need to reduce emissions in every other sector (including transportation, waste, and agriculture) by more than half. The burden of avoiding catastrophic climate change would move away from the real culprits - the fossil fuel industry. 

 


Impact on nature and environment

The TMEP would draw heavily on supply from the Alberta tar sands in Canada. These bitumen deposits require a lot of effort to extract, and process before the oil can be sent to conventional refineries. Most of the current extraction process takes place in open-pit mines, with massive machinery scraping up the tarry sandstone and moving it to facilities for processing. The heavy crude is found mixed with sand, clay, and water, which must be removed, then the heavy crude must be "upgraded" to reduce viscosity and improve quality (The Atlantic, Greenpeace). This extraction process has a heavy carbon footprint and has a a devastating effect on land, producing massive amounts of toxic byproducts.

The existing and proposed pipelines ship diluted bitumen through an extremely sensitive environmental region. The tankers have to pass through a very narrow channel of shallow water to reach the open sea, posing a major threat to an endangered population of orcas (the iconic “killer whales” beloved across the world, and culturally significant for the Tsleil-Waututh people).

The original Trans Mountain Pipeline has a controversial history of oil spills; in the period 1961-2016 there were 81 reported incidents. A July 2017 Greenpeace report concluded that oil spilled into bodies of water is difficult to fully clean up, posing serious risks to human health and the environment,. Diluted bitumen transported from Canada’s tar sands represents a particular threat to water resources along the routes of proposed pipelines.

Financiers

In April 2017, Kinder Morgan filed for an IPO to finance the CAD 7.4 billion Trans Mountain Expansion Project. The IPO closed on May 31st, raising CAD 1.75 billion. The company then established a CAD 5.5 billion credit facility, of which CAD 5 billion is specifically for the costs of the Trans Mountain Pipeline Expansion, making the credit facility effectively a project related corporate loan.

A total of 28 banks have been involved in financing Kinder Morgan through corporate loans and underwriting. TD Bank and RBC are leading finance for the pipeline - the banks were the main underwriters of the credit facility, and also the joint bookrunners of the IPO, via TD Securities and RBC Capital Markets. More details on this is provided below.

In August 2018 Kinder Morgan Canada announced that KML shareholders voted to approve the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP) to the Government of Canada at a special meeting of shareholders held in Calgary, Alberta.

Institution type
Finance type
Year
Companies

AIG

United States
Website
Insurer of TMEP

Chubb

United States
Website
Insurer of TMEP

Kinder Morgan

United States
Profile
Website

Liberty Mutual

United States
Website
Insurer of TMEP
No companies
Governance
Bank policies
Norms & standards
The following bank investment policies apply to Trans Mountain Pipeline Expansion project (TMEP):
Mizuho Financial Group
2016-02-15 00:00:00

Environmental Initiatives policy

Bank policy
2016-02-15 00:00:00 | Mizuho Financial Group
Société Générale
2014-09-01 00:00:00

Environmental and social general guidelines for business engagement

Bank policy
2014-09-01 00:00:00 | Société Générale

Applicable norms and standards

Equator Principles
OECD Guidelines for Multinational Enterprises
UN Guiding Principles on Business and Human Rights
United Nations Declaration on the Rights of Indigenous Peoples
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks financed fossil fuels by $6.9 trillion dollars since the Paris Agreement; $705 billion provided in 2023 alone; JPMorgan Chase, Mizuho, and Bank of America are worst 3 funders

Annual Banking on Climate Chaos report with an updated methodology offers comprehensive look at who’s bankrolling the climate crisis
2024-05-13 | BankTrack, urgewald, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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

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

Update on Trans Mountain Expansion Project

The federal government is providing a loan guarantee on behalf of the Trans Mountain Corporation
2022-05-12 | Ottawa, Ontario, Canada | Department of Finance Canada
BankTrack news BankTrack blog Partner news Partner blog

B.C. adds conditions for Trans Mountain pipeline expansion as concerns remain over spill-response plans

2022-03-08 | CBC News
BankTrack news BankTrack blog Partner news Partner blog

Trans Mountain Pipeline: a climate risk no investor should take

2022-02-21 | Canada | Greenpeace Canada
BankTrack news BankTrack blog Partner news Partner blog

Government Announces Next Steps on Trans Mountain Expansion Project

2022-02-18 | Ottowa, Ontario | Government of Canada, Government of Canada
BankTrack news BankTrack blog Partner news Partner blog

Canada govt to stop funding Trans Mountain oil line project as costs soar 70%

2022-02-18 | Reuters
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

15th insurer rules out coverage for the Trans Mountain Pipeline

Lloyd’s syndicate member Cincinnati Global is now 15th insurer to commit to not insure or reinsure the existing Trans Mountain pipeline or expansion project
2021-08-03 | Insure Our Future
BankTrack news BankTrack blog Partner news Partner blog

Minnesota court affirms approval of Line 3 oil pipeline

2021-06-14 | Seattle Times
Blog
BankTrack news BankTrack blog Partner news Partner blog

New report details the gendered and racial impacts of the fossil fuel industry in North America and complicit financial institutions

2021-04-14 | San Francisco Bay Area, California | WECAN
Blog
BankTrack news BankTrack blog Partner news Partner blog

Biden revokes Keystone XL, Indigenous leaders celebrate and push for stronger action

2021-01-20 | Bemidji, United States | Indigenous Environmental Network
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
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Women Leaders warn global financial companies to stop support for tar sands oil

With key financial decision points looming on the Keystone XL, Line 3, and Trans Mountain pipelines, an open letter calls for policies respecting Indigenous rights and ruling out tar sands
2020-10-19 | First Peoples Worldwide, Giniw Collective, Honor the Earth, Indigenous Climate Action, Indigenous Environmental Network, Tiny House Warriors, Unist
Blog
BankTrack news BankTrack blog Partner news Partner blog

Pipe Dreams: why Canada’s proposed pipelines don’t fit in a low carbon world

Carbon Tracker’s modelling shows no new oil sands are needed in a low carbon world
2020-07-23 | Carbon Tracker Initiative, Carbon Tracker
BankTrack news BankTrack blog Partner news Partner blog

Trans Mountain Pipeline’s Lead Insurer Zurich Drops Coverage

2020-07-23 | EcoWatch
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

Trans Mountain pipeline faces fresh legal challenges after court allows six appeals to proceed

2019-09-04 | Financial Post
BankTrack news BankTrack blog Partner news Partner blog

Trans Mountain: Canada approves $5.5bn oil pipeline project

2019-06-18 | BBC news
Blog
BankTrack news BankTrack blog Partner news Partner blog

Greenpeace block Barclays’ HQ over dirty oil pipeline funding

Greenpeace UK volunteers take over the main entrance to Barclays HQ in London to protest the bank’s refusal to stop funding tar sands pipelines
2018-07-19 | London
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan pipeline: Canadian government to buy project for $4.5bn

2018-05-29 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

How Kinder Morgan's bankers are funding a tar sands pipeline

2018-05-24 | Sightline Institute
BankTrack news BankTrack blog Partner news Partner blog

What’s behind Kinder Morgan’s May 31 ultimatum? Follow the money

2018-05-15 | National Observer
BankTrack news BankTrack blog Partner news Partner blog

Climate protesters storm annual Barclays shareholder meeting

2018-05-01 | Financial Times
Blog
BankTrack news BankTrack blog Partner news Partner blog

AGM briefing: Switzerland's per capita financing of fossil fuels worst in Europe, thanks to Credit Suisse and UBS

2018-04-25 | BankTrack, Greenpeace
BankTrack news BankTrack blog Partner news Partner blog

Government insiders say Trans Mountain pipeline approval was rigged

2018-04-24 | National Observer
Blog
BankTrack news BankTrack blog Partner news Partner blog

Problematic Pipelines: Trans Mountain challenges go beyond B.C. government opposition

Greenpeace Investor Alert
2018-04-20 | Greenpeace
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan halts most work on disputed Canada pipeline expansion

2018-04-09 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big banks complicit in massive tar sands destruction and pollution through hundreds of billions in financing

2017-11-02 | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks warned of tar sands pipelines investment risks in new report

2017-10-31 | Greenpeace, Oil Change International
BankTrack news BankTrack blog Partner news Partner blog

Indigenous rights 'serious obstacle' to Kinder Morgan pipeline, report says

2017-10-16 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Greenpeace Investor Briefing: Problematic Pipelines

Investor risk from bank financing of tar sands pipelines
2017-09-20 | Greenpeace
BankTrack news BankTrack blog Partner news Partner blog

Trans Mountain backer Desjardins suspends lending for pipelines over concerns for environment

2017-07-10 | Calgary | Financial Post
Blog
BankTrack news BankTrack blog Partner news Partner blog

Dutch bank ING the latest to reject financing of Kinder Morgan pipeline

2017-06-28 | Toronto | Greenpeace
Blog
BankTrack news BankTrack blog Partner news Partner blog

150,000 People Representing more than $4 Billion Call on Banks to Defund Tar Sands Pipelines

2017-06-28 | Washington, DC | Divestinvest, Mazaska Talks
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fossil Fuel Finance Report Card 2017 reveals bank policies fail to respond to climate risks

2017-06-21 | BankTrack, Oil Change International, Rainforest Action Network, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

Sweden’s Largest Pension Divests From Paris Accord Violators, Including ExxonMobil & TransCanada

2017-06-19 | CleanTechnica
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan Canada raises CAD 5.5 billion as Trans Mountain faces block

2017-06-16 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Banks must stop funding dirty oil

Supposed demand from China and India is no mandate for polluting tar sands
2017-06-13 | Financial Times
BankTrack news BankTrack blog Partner news Partner blog

Coalition urges banks to shun financing for Trans Mountain pipeline

2017-06-12 | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

Indigenous, Green Groups Warn 28 Banks Against Funding Canada's ‘Dirty Oil’ Kinder Morgan Pipeline

2017-06-12 | teleSUR
BankTrack news BankTrack blog Partner news Partner blog

Pipeline poker: How the Trans Mountain expansion project could play out in B.C.

2017-06-10 | Times Colonist
BankTrack news BankTrack blog Partner news Partner blog

The Energy 202: What the Dodd-Frank rollback could mean for energy companies

2017-06-09 | The Washington Post
Blog
BankTrack news BankTrack blog Partner news Partner blog

28 major banks warned not to finance Trans Mountain pipeline expansion

Over 20 Indigenous and environmental groups deliver urgent letter.
2017-06-09 | BankTrack, Rainforest Action Network, others
BankTrack news BankTrack blog Partner news Partner blog

Environmental and indigenous groups demand banks avoid supporting Trans Mountain Expansion

A letter demands that CEOs of major banks should avoid supporting Kinder Morgan’s Trans Mountain expansion over human rights and climate change concerns
2017-06-09 | Toronto Star
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan Canada seeks domestic bond sales for Trans Mountain pipeline project

2017-06-06 | Financial Post
BankTrack news BankTrack blog Partner news Partner blog

A pipeline rattles the political landscape

2017-06-03 | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

B.C. grand chief responds to Alberta premier on Trans Mountain, warning it 'will never see the light of day'

2017-06-02 | CBC News
BankTrack news BankTrack blog Partner news Partner blog

Kinder Morgan Canada shares drop on debut after $1.3 bln IPO

2017-05-30 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

First Nations across North America ask TD Bank to step away from financing of Kinder Morgan Pipeline

Grand Chief Simon Appeals to Investors, Shareholders at TD Annual General Meeting
2017-03-31 | Toronto | Treaty Alliance
BankTrack news BankTrack blog Partner news Partner blog

Canada's Oil Pipeline To The Salish Sea: What You Need To Know

2017-03-30 | KUOW
BankTrack news BankTrack blog Partner news Partner blog

Toronto protesters target TD Bank over involvement in Trans Mountain pipeline project

2017-03-30 | Toronto Star
BankTrack news BankTrack blog Partner news Partner blog

From Standing Rock to Trans Mountain, dissent is in the pipeline

2017-02-13 | Ottawa and Victoria | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

Are we ready for oil spills in the Salish Sea?

2017-01-25 | Crosscut
BankTrack news BankTrack blog Partner news Partner blog

B.C. First Nations unite in fight against Trans Mountain pipeline

2017-01-17 | Vancouver | The Globe and Mail
BankTrack news BankTrack blog Partner news Partner blog

Thousands protest Kinder Morgan pipeline expansion in Vancouver

2016-11-21 | CTV Vancouver
Resources
Documents
Images
Videos
Links
2023-09-20 00:00:00

Gendered and racial impacts of the fossil fuel industry in North America and complicit financial institutions

NGO document
2023-09-20 00:00:00 | WECAN
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
2022-03-09 00:00:00

TRANS MOUNTAIN EXPANSION PROJECT UPDATE

Company document
2022-03-09 00:00:00 | Trans Mountain Corporation
2021-04-14 00:00:00

Gendered and Racial Impacts of the Fossil Fuel Industry in North America and Complicit Financial Institutions

A Call to Action for the Health of our Communities and Nature in the Climate Crisis
NGO document
2021-04-14 00:00:00 | WECAN
2020-10-19 00:00:00

Letter from Coalition of Indigenous women and organizations to a group of 70 banks on Tar sands financing

Correspondence
2020-10-19 00:00:00 | Coalition of Indigenous women and organizations
2020-10-31 00:00:00

High Risk, Low Reward

An overview of European banks' position on oil sands
NGO document
2020-10-31 00:00:00 | ShareAction
2018-04-25 00:00:00

Swiss Banks in the End of the Fossil Fuel Age

BankTrack publication
2018-04-25 00:00:00 | Greenpeace, BankTrack
2017-12-08 00:00:00

How banks contribute to human rights violations

BankTrack Human Rights Briefing Paper
BankTrack publication
2017-12-08 00:00:00 | BankTrack
2017-10-16 00:00:00

Standing Rock of the North

The Kinder Morgan Trans Mountain Pipeline Expansion Secwepemc Risk Assessment
NGO document
2017-10-16 00:00:00 | Indigenous Network on Economies and Trade
2017-09-25 00:00:00

Letter from Treaty Alliance against Tar Sands Expansion, Rainforest Action Network et al to JPMorgan Chase on Ending finance for tar sands oil

Correspondence
2017-09-25 00:00:00 | Treaty Alliance against Tar Sands Expansion, Rainforest Action Network et al
2017-09-20 00:00:00

Problematic pipelines: Investor risk from bank financing of tar sands pipelines

NGO document
2017-09-20 00:00:00 | Greenpeace
2017-07-31 00:00:00

Four Proposed Tar Sands Oil Pipelines Pose a Threat to Water Resources

Greenpeace July 2017 report
NGO document
2017-07-31 00:00:00 | Greenpeace
2013-05-31 00:00:00

Assessing the risks of Kinder Morgan’s proposed new Trans Mountain pipeline

NGO document
2013-05-31 00:00:00 | Conversations for Responsible Economic Development
2017-06-06 00:00:00

Letter from RAN and 13 others to 14 banks that underwrote Kinder Morgan Canada IPO on warning to finance the IPO

Correspondence
2017-06-06 00:00:00 | Rainforest Action Network et al
2017-06-01 00:00:00

Does your money fund oil pipelines?

NGO document
2017-06-01 00:00:00 | Mazaska Talks
2016-08-31 00:00:00

Trans Mountain oil spill report 1961 - 2016

Company document
2016-08-31 00:00:00 | Trans Mountain

Trans Mountain Pipeline route

2017-06-20
Trans Mountain Pipeline route

What is the Trans Mountain Oil Pipeline?

2017-06-13 11:19:03

Kinder Morgan Trans-Mountain Pipeline Expansion: An in depth look at issues and proposals

2017-06-13 11:06:39

Mazaska Talks

Campaign website

National Energy Board

Regulatory overview of Trans Mountain Expansion Project

First Nations

Land Rights and Environmentalism in British Columbia

Secwepemc nation website

DeFundPipelines campaign website

Extensive profile of the Trans Mountain Expansion Project

The vancouver Observer

Treaty Alliance against tar sands expansion

Campaign website

The Tsleil-Waututh Nation Sacred Trust initiative

The Sacred Trust is an initiative of the Tsleil-Waututh Nation (TWN). Its mandate is to stop the Trans Mountain pipeline and tanker project. 

Stop Insuring Trans Mountain

Updates

2022

2022-03-08 00:00:00 | B.C. adds conditions for Trans Mountain pipeline expansion as concerns remain over spill-response plans

British Columbia has amended the conditions of its environmental assessment certificate for the Trans Mountain pipeline expansion and told the federal government it still has concerns about its response to potential marine oil spills. Read more. 

2022-02-18 00:00:00 | TD Bank and BMO are hired as financial advisors and Government of Canada pulls away

On 18 February 2022, the Government of Canada, Ministry of Finance, announced it would no longer finance the Trans Mountain Pipeline. After engaging with TD Bank and BMO to provide advice on the financial aspects of the project, the federal government stated that it intends to launch a divestment process after the expansion project is further de-risked and after economic participation with Indigenous groups has progressed. The governments also noted that the funding could be secured through third-party financing, either in the public debt markets or with financial institutions. 

2021

2021-06-14 00:00:00 | Minnesota court affirms approval of Line 3 oil pipeline

The Minnesota Court of Appeals on Monday affirmed state regulators’ key approvals of Enbridge Energy’s Line 3 oil pipeline replacement project, in a dispute that drew over 1,000 protesters to northern Minnesota last week. A three-judge panel ruled 2-1 that the state’s independent Public Utilities Commission correctly granted Enbridge the certificate of need and route permit that the Canadian-based company needed to begin construction on the 337-mile Minnesota segment of a larger project to replace a 1960s-era crude oil pipeline that has deteriorated and can run at only half capacity (Seattle Times).

2018

2018-08-31 00:00:00 | Sale of Trans Mountain Pipeline (and TMEP) to Canadian government confirmed

Kinder Morgan Canada Limited (KML) announced that KML shareholders have voted to approve the sale of the Trans Mountain Pipeline system and the Trans Mountain Expansion Project (TMEP) to the Government of Canada at a special meeting of shareholders held on August 30, 2018 in Calgary, Alberta.

2018-08-30 00:00:00 | Trans Mountain pipeline halted after Canadian court overturns approval

A Canadian court has overturned Ottawa’s approval of the Trans Mountain Pipeline – throwing plans to nearly triple the flow of Alberta’s landlocked bitumen to the west coast into limbo – in a ruling hailed by environmentalists and Indigenous groups. In a unanimous decision, the federal court of appeal said the government failed to consider the concerns of some First Nations.

2018-05-29 00:00:00 | Canadian government to buy Trans Mountain Pipeline project for CAD 4.5bn

Canada’s federal government has announced it will buy a controversial pipeline from the Alberta oil sands to the Pacific coast to ensure it gets built. The country’s finance minister, Bill Morneau, said on Tuesday that Justin Trudeau’s government will spend CAD 4.5bn (USD 3.45bn) to purchase Kinder Morgan’s Trans Mountain pipeline.

2018-05-16 00:00:00 | Morneau says Canada prepared to take on liability of Trans Mountain pipeline

Finance Minister Bill Morneau said Wednesday he is prepared to protect the Trans Mountain oil pipeline expansion to the west coast against financial loss. Morneau did not put a price tag on the commitment that was quickly characterized as a "blank cheque" by both an environmental group and the federal NDP leader. (National Observer)

2018-05-16 00:00:00 | Government's plan to bail out Kinder Morgan ignores major legal risks

Environmental lawyers expressed concern over this morning's announcement about the federal government’s plans to provide financial support for the Kinder Morgan Trans Mountain pipeline and tanker project.  The project faces significant legal risks from ongoing court challenges that could derail it completely. (West Coast Environmental Law)

2018-04-09 00:00:00 | Kinder Morgan halts most work on Trans Mountain Pipeline

Kinder Morgan's Chairman Steve Kean announced he would scrap plans to nearly triple the capacity of the Trans Mountain pipeline, which takes crude from Alberta’s oil sands to a facility in the Pacific province of British Columbia, unless the various legal challenges could be resolved by May 31 (Reuters).

2017

2017-10-16 00:00:00 | Report on the Trans Mountain Pipeline Expansion project reveals misleading projections of Kinder Morgan

A report published by the Indigenous Network on Economies and Trade has laid out the flawed valuation that Kinder Morgan Canada has projected regarding the Kinder Morgan Trans Mountain Expansion Project (TMEP). The company was named to have failed on multiple bases in crucial areas to account for the lack of political, legal, and proprietary certainty surrounding the pipeline.

2017-07-10 00:00:00 | Trans Mountain backer Desjardins suspends lending for pipelines over concerns for environment

Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said on Saturday, citing concerns about the impact such projects may have on the environment. Desjardins, the largest association of credit unions in North America, on Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman Jacques Bouchard told Reuters by telephone (source Financial Post).

2017-06-28 00:00:00 | Dutch bank ING the latest to reject financing of Kinder Morgan pipeline

Dutch bank ING has publicly stated that it will not finance oil pipeline projects from the Canadian tar sands, including the Kinder Morgan Trans Mountain Expansion, Keystone XL, Energy East, and Line 3 Expansion pipelines. The move comes as a response to a letter sent by 20 Indigenous and environmental groups asking the bank to refrain from financing Kinder Morgan’s Trans Mountain Expansion pipeline. The letter highlighted the proposed pipeline’s detrimental impact on the climate and its violations of Indigenous rights.

2017-06-16 00:00:00 | Kinder Morgan Canada raises CAD 5.5 billion as Trans Mountain faces block

Kinder Morgan Canada Ltd has raised CAD 5.5 billion (USD 4.16 billion) for its Trans Mountain Pipeline Expansion Project and could have raised even more, the company said on Friday, despite pressure on banks to back away from the project. Energy infrastructure projects have faced opposition from environmental groups and aboriginal communities whose land they touch. Opposition to Trans Mountain is set to mount after the effective rise of an unfriendly government last month in Canada's British Columbia province that the pipeline passes (source Reuters).

2017-06-12 00:00:00 | 28 major banks warned not to finance Trans Mountain Pipeline expansion

Over 20 Indigenous and environmental organizations delivered an open letter to 28 major banks, calling on them to back away from funding the Trans Mountain pipeline expansion project (TMEP). The warning letter urges banks to avoid the reputational and financial risk of supporting this destructive project, which is incompatible with realizing the goals of the Paris Climate Agreement and respecting human rights, especially those detailed in the U.N. Declaration on the Rights of Indigenous Peoples (source Advnf.com).

2017-01-11 00:00:00 | Trans Mountain Expansion project granted environmental assessment approval

Environment Minister Mary Polak and Natural Gas Development Minister Rich Coleman have issued an environmental assessment certificate to Trans Mountain Pipeline ULC for the B.C. portion of the Trans Mountain Expansion project, which is an interprovincial pipeline approximately 987 kilometres long between Edmonton, Alberta and Burnaby, British Columbia (source BC Gov News).

2016

2016-11-30 00:00:00 | Project approved by the Government of Canada

On November 29, 2016, the Government of Canada granted approval for the Trans Mountain Expansion Project. The expansion concerns the existing 1,150-kilometre pipeline between Strathcona County (near Edmonton), Alberta and Burnaby, BC. The expansion will create a twinned pipeline increasing the nominal capacity of the system from 300,000 barrels per day to 890,000 barrels per day (source Trans Mountain).

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