Last December, 21 banks were part of “revolving credit” loans that gave TransCanada a C$5.5 billion credit card to fund the company’s business, tar sands pipelines and all. JPMorgan Chase was one of the lead banks arranging the credit.
Then in the spring of 2017, JPMorgan Chase faced a major test of its talk on Indigenous rights and climate change — whether to fund Kinder Morgan’s Trans Mountain pipeline. Trans Mountain would enable the expanded extraction of tar sands — violating the right to free, prior and informed consent of Indigenous communities at the point of extraction and along the pipeline’s path, and locking us and future generations into one of the dirtiest, most carbon-intensive forms of oil.
Despite the many warnings, JPMorgan Chase chose to look the other way. Financial institutions have escaped accountability for the real world consequences of their investments. It’s time for that impunity has come to an end.
With almost two decades of experience with Wall Street banks, and building on momentum from a number of Indigenous and grassroots-led struggles, we are undertaking a critical campaign to get JPMorgan Chase out of tar sands to protect Indigenous and human rights and align its/their business with a 1.5 degree world.
Take Action Tell JPMorgan Chase to #DefundTarSands
Photo Below: "Oil sands refineries" Photo Credit: Jennifer Grant, Pembina Institute