General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTAKE ACTION: #StopLine3
Alert from the Indigenous Environmental Network ienearth.org 11-30-2020Two weeks ago, the toxic Line 3 tar sands pipeline had its final water crossing permits approved by the Minnesota Pollution Control Agency, a decision that caused twelve members of the Agencys environmental justice advisory committee to resign in protest.
Within a matter of weeks, Enbridge Energy is planning to start construction in rural Minnesota, bringing hundreds of out-of-state workers to the area. This is despite the fact that COVID cases are surging, and the healthcare systems of many Native and non-Native communities in the region are already being stretched to breaking point.
Can you take 3 actions today to stand in solidarity with those on the frontlines help #StopLine3?
Call MN Department of Commerce: 651-539-1441
Sample Script: Hi, I'm [NAME], I'm calling from [PLACE], and I'm calling because I am extremely concerned about the possibility of construction on the Line 3 pipeline. The pipeline is still facing enormous legal challenges from tribal nations, advocacy groups, and the Minnesota Department of Commerce. I'm calling to urge the Department of Commerce to advocate for a stay against construction to protect the integrity of the process, and to protect communities in Minnesota from the dangerous spread of COVID. Thank you.
Tweet at the funders of Line 3 & demand they #DefundLine3
Enbridges Line 3 is financed by Wall Street: JPMorgan Chase, Wells Fargo, Citibank & Bank of America are all major lenders to Enbridge. BlackRock is a 5% shareholder of the company. Insurance companies, like Liberty Mutual, provide it with key insurance. These companies are complicit in the building of this heinous pipeline.
Send a message to Wall Street on social media and demand that they #DefundLine3.
Follow the frontlines:
Line 3 is being fiercely resisted on the ground. Last week, two Water Protectors locked themselves to Line 3 construction equipment, shutting down construction for most of the day. [On Facebook] follow Giniw Collective, Stop Line 3, RISE and Unicorn Riot on social media for updates on whats happening on the frontlines. And if you can, we encourage you to donate to these organizations. We cant stop this pipeline without a strong frontline.
If built, Line 3 would release as much greenhouse gas pollution as fifty new coal fired power plants. It would violate Ojibwe treaty rights, and put the states water, ecosystems, and communities at risk.
Projects like Line 3 are also clearly linked to violence against and the trafficking of Native American women due to the installation in rural areas of temporary housing facilities for mostly male construction workers, known as man camps.
For all of these reasons, Line 3 is being fiercely resisted by tribal nations, Indigenous Water Protectors, grassroots groups, young people, faith leaders, and more. And you can help.
Please take action to #StopLine3 today.
In solidarity,
Stop the Money Pipeline
ienearth.org
diva77
(7,640 posts)Enbridges Current Financing
Source: Bloomberg Finance L.P.
Overall, the banks currently funding Enbridge (banks on currently active credit facilities, or who have underwritten bond issuances this year) are:
USA
Bank of America
Citi
Huntington
JPMorgan Chase
Morgan Stanley
Truist Financial
Wells Fargo
Canada
Bank of Montreal
CIBC
Desjardins
Export Development Canada
National Bank of Canada
RBC
Scotiabank
TD
Europe
Barclays
BNP Paribas
Crédit Agricole
Credit Suisse
Deutsche Bank
DNB
HSBC
Société Générale
UBS
Asia
Bank of China
China Construction Bank
ICBC
Mizuho
MUFG
SMBC Group
United Overseas Bank
More details on Enbridges current financing:
Enbridge Inc. and its relevant subsidiaries currently have 7 active credit facilities (loans), totaling USD $13.108 billion.
TD is the lead agent on 3 of these loans.
Bank of America, Mizuho, Scotiabank, and Wells Fargo are each the lead agent on 1 of these loans.
Enbridge and its relevant subsidiaries have issued 3 bonds so far this year, totaling USD $2.14 billion. The lead underwriters of these bond issuances were:
JPMorgan Chase (2 out of 3)
Bank of America (1 out of 3)
Bank of Montreal (1 out of 3)
Barclays (1 out of 3)
CIBC (1 out of 3)
Citi (1 out of 3)
Credit Suisse (1 out of 3)
Mizuho (1 out of 3)
MUFG (1 out of 3)
Scotiabank (1 out of 3)
SMBC Group (1 out of 3)
Enbridges Top Bankers Over 2016-2019
Source: Banking on Climate Change 2020
Rank
Bank
Financing (lending and underwriting), 2016-2019 (USD)
1
TD
$10.784 Billion
2
Bank of Montreal
$8.784 Billion
3
Scotiabank
$8.274 Billion
4
Royal Bank of Canada (RBC)
$6.444 Billion
5
Canadian Imperial Bank of Commerce (CIBC)
$5.339 Billion
6
Citi
$4.411 Billion
7
Wells Fargo
$3.256 Billion
8
Bank of America
$2.606 Billion
9
MUFG
$1.942 Billion
10
Deutsche Bank
$1.526 Billion
11
Mizuho
$1.392 Billion
12
BNP Paribas
$1.317 Billion
13
JPMorgan Chase
$1.299 Billion
14
Barclays
$1.186 Billion
15
Credit Suisse
$1.011 Billion