Thursday, November 17, 2016

Norway's Largest Bank Pulled Assets Out of Dakota Access Pipeline


Indigenous Sami at Standing Rock worked together with the camp's legal team Water Protectors Legal Collective to expose the human rights abuses by militarized police, and threat to the water. Photo copyright Jeff Chad.
DNB Dumps Dakota Access Pipeline
By Brenda Norrell
Censored News
WASHINGTON, DC -- The largest bank in Norway, DNB, has sold its assets in Dakota Access Pipeline. Indigenous Sami worked together with the Water Protectors Legal Collective in Standing Rock Camp to document the human rights abuses by militarized police and the threat of the underground crude oil pipeline to the Missouri River water.http://bsnorrell.blogspot.com/2016/11/sami-people-and-standing-rock-camp.html
Greenpeace said Thursday this decision was the result of 120,000 signatures from Greenpeace Norway and others to DNB, urging the bank and other financial institutions to pull finances from the project.
Greenpeace said:
The largest bank in Norway, DNB, has announced that it has sold its assets in the Dakota Access pipeline. The news follows the delivery of 120,000 signatures from Greenpeace Norway and others to DNB urging the bank and other financial institutions to pull finances for the project. DNB [www.democracynow.org/2016/11/8/headlines/norwegian_bank_dnb_considering_cutting_funding_of_dakota_access_pipeline]recently indicated that it is reconsidering the loan it provided, which amounts to 10 percent of the total funding.
In response to the news, Greenpeace Norway Sustainable Finance Campaigner Martin Norman said: 
“It is great that DNB has sold its assets in the disputed pipeline, and it is a clear signal that it is important that people speak out when injustice is committed. We now expect DNB to also terminate its loans for the project immediately.” 
“There should be a clause in the lending agreement that deals with human rights violations, and DNB should use it to get its money back and end all involvement in the Dakota Access pipeline. If they don’t have such a clause they must accept they have a bad contract and take the loss.” 
Greenpeace USA spokesperson Lilian Molina said: 
“The writing's on the wall for the Dakota Access pipeline. People power is winning. The news that DNB has sold its assets and is considering terminating its loans is a victory for the water protectors who are fighting to stop this disaster of a project. All financial institutions with a stake in the pipeline must quickly realize that financing this project is toxic. It would be smart for them to get out ahead of the growing movement of customers looking to divest from banks that finance the destruction of our planet and ignore Indigenous rights and sovereignty. Citigroup, TD Securities, Wells Fargo, SunTrust, and the other banks backing this project should see this as a sign to get on the right side of history.”

3 comments:

Lloyd Vivola said...

Norwegian investment in a number of pipeline and tar sands projects across North America is economically and politically connected - directly or indirectly - to the proliferation of salmon "farms" in British Columbia - "feedlots" that are licensed by the settler government to operate in a manner that threatens wild salmon, food security, and a healthy environment. Actions to stop pipelines and fossil fuel extraction thus honor the Salmon Nations as those who live in the land of the Salmon Nations continue to honor and support the Water Protectors at Standing Rock and elsewhere.

Anonymous said...

How can we make a LOT more of this happen?

Anonymous said...

ANONYMOUS asks the Most Important Question: "How can we make A LOT MORE of this happen?" Meaning, how can we get many more companies & individuals to PULL OUT their money, from investments that go against Life, Human Rights, Indigenous Rights, etc.?

Let's put our TV's, phones & computers on MUTE, and start having this discussion with our office mates, roommates, family members, friends, neighbors. It's time! LET'S DO THIS!!

Anonymous II (a Black & Indigenous, homeless, working gay woman who's been honing my skills in Permaculture, organic food growing, sustainable building, Earth Ecology, and Restoration of physical/ mental/ and emotional health for All Humans, so we can achieve our potential as Cooperative, Peaceful, Life-Protecting Beings!)

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