British bank Barclays has announced the narrowing of its lending criteria for clients involved in coal-fired power generation and will cease to finance the surface mining method of oil sands exploration and production, but has still not committed to restricting lending for oil and gas as some of its competitors have. In its annual report […]
The coming month will be critical for the controversial Enbridge Line 3 tar sands oil pipeline, currently under construction in Northern Minnesota, AP reports. “Due to the urgency of the climate crisis crisis and the fact that Indigenous leaders have not consented to the Line 3 project,” organizers from 300 groups warned President Biden in […]
By Jessica Corbett Water protectors were arrested Thursday after halting construction at a Minnesota worksite for Enbridge’s Line 3 project by locking themselves together inside a pipe segment. “After moving to Minnesota to attend college and study environmental science, I was excited to be in a place where people valued protecting the Earth and finding […]
By Brett Wilkins Indigenous-led water protectors on Friday engaged in multiple direct actions against Enbridge’s highly controversial Line 3 tar sands pipeline in Minnesota, on the same day that state regulators denied a request from two tribes to stop the Canadian company from proceeding with the project. Water protectors blocked pipeline traffic and climbed and […]
By Jessica Corbett Environmental and Indigenous leaders on Thursday responded with alarm after Minnesota regulators approved key permits for Enbridge Energy’s planned Line 3 Pipeline replacement, and called on Democratic Gov. Tim Walz to block any construction for the Canadian company’s long-delayed multibillion-dollar project. “Gov. Walz has apparently decided that if Washington won’t lead on […]
By Andrea Germanos A group of Indigenous women and their allies on Monday urged the heads of major global financial institutions to stop propping up the tar sands industry and sever all ties with the sector’s “climate-wrecking pipelines, as well as the massively destructive extraction projects that feed them.” The demand to the CEOs comes […]
By Krissy Waite Climate activists are celebrating Deutsche Bank’s new energy policy banning financial support of drilling in the Arctic, a move which comes after years of pressure from advocacy groups. The bank, a multinational investment company headquartered in Germany, announced Monday that it will no longer offer financial services to new projects that involve […]
The company behind the controversial and long-delayed Keystone XL pipeline announced it would proceed with the project Tuesday, despite concerns about the climate impacts of the pipeline and the dangers of transporting construction crews during a pandemic. Pipeline owner TC Energy Corp. also announced that Alberta’s government had invested around .1 billion to cover most […]
Financial companies are increasingly being recognized — by their clients, shareholders, regulators, and the general public — as climate actors, with a responsibility to mitigate their climate impact. For the banks highlighted in this report, the last year has brought a groundswell of activism demanding banks cut their fossil fuel financing, at the same time […]
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