With the global divestment movement expanding exponentially comes a new victory: U.S. Bank, one of the largest in the #UnitedStates, announced last month that it will be excluding gas and oil pipelines from their project financing, making it the first major U.S. bank to take a step toward such a #climatechange policy.
While U.S. Bank renewed its commitments with #EnergyTransferPartners, the company behind the #DakotaAccesspipeline, and with #EnbridgeEnergy, whose pipelines operate in #Minnesota, as recently as March of this year, activists still hope the bank’s newly released policy will halt these relationships. “U.S. Bank’s new policy is an important step in protecting the environment and moving towards a fossil-free future,” Wichahpi Otto, a volunteer with the climate justice group MN350, said in a statement. “We applaud them for responding to the community and contributing to worldwide efforts to address climate change.” Just this past week, thousands of people held over 260 events in over 45 countries on six continents, during the Global Divestment Mobilization, GDM from May 5 to 13. The aim of the mass mobilization was to pressure institutions to break financial ties with fossil fuel companies.
Ahead of the #G7Summit in #Sicily, #Italy, as well as the #Bonn climate talks in Bonn, #Germany, activist groups are setting the groundwork for future divestments. 🖐🏾More in comments👇🏾#NoDAPL #DivestDAPL #HitThemInThePockets #Agenda21 #Agenda2030 #SustainableDevelopment