HSBC To Stop Tar Sands Funding. Who’s Next?

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We need to seize this momentum right now!

The movement is working! Last week, banking giant HSBC, the seventh largest bank in the world, announced it will no longer provide finance for new tar sands projects, including financing for the Keystone XL and Line 3 Expansion pipelines. This is a huge step towards stopping this disastrous pipeline for good!

This move by HSBC, following pressure from Greenpeace and allies around the globe, is the most recent indication that the financial community has begun to see the increasing risk in funding pipelines. This is the latest HUGE commitment from a major investment institution to defund controversial tar sands projects — and the momentum is only growing.

If this news tells us anything, it’s that together, we can stop new pipeline projects and keep tar sands in the ground.

We know that tar sands are devastating for our climate and threaten precious water resources, the environment, and Indigenous rights — it’s clear that there are significant risks in investing in these projects. As more and more people are coming together to oppose these destructive, dirty, and controversial pipelines, the investors bankrolling those projects are feeling the heat, noticing how risky these investments are, and are backing off. If enough investors follow HSBC’s lead, we know that oil pipeline companies will have a hard time raising the money needed to complete these controversial projects.

Right now, is a critical time for this campaign and we need your urgent support. Here’s the plan:

Double down on organizing efforts in the Pacific Northwest to oppose Kinder Morgan’s Trans mountain pipeline. Kinder Morgan has put construction spending on hold while it assesses risks and we need to use this moment to stop the pipeline once and for all.

Scale our campaign demanding Chase stop funding dirty oil pipelines in the lead up to its May 15 shareholder meeting.

Continue to resist Trump and do everything we can to protect the planet. We are at a turning point for the environment!

The movement to keep fossil fuels in the ground has become a force to be reckoned with. Under the Obama Administration you mainstreamed this vision. You helped push Shell to cancel its Arctic drilling plans, prevent the Keystone XL tar sands pipeline from being approved the first time and protect much of our coastline from risky offshore drilling. The Trump Administration and its fossil fuel allies are attempting to roll back all the progress we made, but they are meeting fierce resistance at every turn. Keep it up. I know that we will win.

Please help support all of Greenpeace’s important work … With your help, we can stop these pipelines for good!

This movement is working and we can’t stop now. Please … support all of Greenpeace’s important work!

Rachel Rye Butler is a Tar Sands Campaigner, Greenpeace USA


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