This is a huge win for all the climate activists, Indigenous leaders and nations, and Canadians of all sorts who fought for years to stop this pipeline — just as we in the US have been fighting to stop #KXL and the Dakota Access Pipeline (#DAPL).
Ultimately, it wasn’t a rally, protest, or petition that slayed the great black snake known as Energy East — it was basic economics.
That’s important for two reasons: One, it puts added pressure on TransCanada and their partners to deliver on KXl, DAPL and other projects — one down, many to go and the stakes just got higher. Two, it indicates that we can stop these projects by speaking their language — and money talks.
It’s important to understand that big pipelines and other fossil fuel projects are funded almost entirely by the big banks — companies like Wells Fargo, JPMorgan Chase, and Bank of America. You undoubtedly know many of those big banks, they have branches on millions of street corners in most cities and towns like Columbia. You might even use them for your checking accounts or credit cards.
They’d rather you didn’t know that they’re financing climate disaster projects like Energy East, KXL, and DAPL. That’s why many of them signed onto the Equator Principles. It’s a promise between the biggest banks to NOT finance projects that threaten the climate and local communities. It sounds good, but they haven’t lived up to their promise.
The Dakota Access Pipeline was financed by these so called “Equator banks”, even though it was built to pump the dirtiest oil on earth, and was fiercely opposed by the Standing Rock Sioux and Cheyenne River Lakota Tribes.
It’s not just in the U.S., either: The Agua Zarca dam in Honduras, also passed the ‘Equator test’ as a project supposedly respecting the rights of the Lenca communities. Tragically, Indigenous leader Berta Cáceres was murdered for speaking out against the project.
On October 23rd, 92 of the world’s largest banks will meet in São Paolo, Brazil to discuss and re-commit to the Equator Principles. The list of attendees will include DAPL & KeystoneXL financiers such as Wells Fargo, Bank of America, J.P. Morgan Chase, and many more.
This coalition is calling on allies everywhere to participate by signing this petition and joining us for a mass global action between October 23-25. Will you sign here to tell the big banks: stop financing climate disasters and respect Indigenous rights?
PS – Once you’ve signed on, click here to host or attend a local rally, protest or teach-in on October 23, 24 or 25 as part of this collective “Divest The Globe” action!
* “mazaska” is a Lakota for “money”, an homage to the resistance at Standing Rock. The website Mazaskatalks.org is a centralized resource for this campaign, with detailed financial data as well as tools for taking action.