Nov 2, 2017
Funding Tar Sands: Private Banks vs. the Paris Agreement documents how global private banks are driving climate change, environmental destruction and Indigenous rights abuses by financing tar sands pipelines, mines, and the companies behind them.
Names banks supporting TransCanada, Kinder Morgan’s Trans Mountain pipeline, Enbridge, and Teck Resources
Offers the first comprehensive comparison of global banks’ policies on tar sands, with letter grades for 33 banks from the U.S., Canada, Europe and Japan
Details $115 billion that those 33 banks have pumped into to the top tar sands producers and pipeline companies since 2014, with year-by-year breakdowns
Calls on banks to align their policies and practices with the 1.5°C aim of the Paris Agreement, by exceeding the new standard set by BNP Paribas’ tar sands policy
Calls on banks to align their policies and practices with UNDRIP, including measures to ensure that their clients respect the right to FPIC for Indigenous peoples
Funding Tar Sands: Private Banks vs. the Paris Agreement was published by Rainforest Action Network, BankTrack, Indigenous Climate Action, Last Real Indians, Les Amis de La Terre France, Mazaska Talks, Oil Change International, Re:Common, Sierra Club, Treaty Alliance Against Tar Sands Expansion, UK Tar Sands Network, and urgewald e.V.