September 22, 2016
Yes Magazine: A Strategy to Stop the Funding Behind the Dakota Access Pipeline
The key Dakota Access loan, says Rainforest Action Network’s Amanda Starbuck, is still pending. It’s a multibillion-dollar line of credit, but only $1.1 billion of the loan can be doled out until the company “resolves certain governmental permits.” Citi, Mizuho, Bank of Tokyo MUFJ, and Mizuho Bank are leaders on that loan.
“Oil companies are always going to drill for oil and build pipelines—it's why they exist,” says RAN’s Scott Parkin. “But the banks funding this pipeline have a choice as to where they put their money. Right now, Citibank, TD Bank, and others have chosen to invest in a project that violates indigenous rights and destroys the climate.” (read more)