Investors Urge Banks to Support DAPL Reroute
Tri-CRI members joined over 130 investors in signing a statement urging the banks financing the Dakota Access Pipeline (DAPL) to support the Standing Rock Sioux Tribe’s request to reroute the pipeline to avoid treaty territory. Investors highlighted the financial and reputational risks of being associated with a pipeline project that was developed without sufficiently assessing the implications for indigenous rights and the environment. The DAPL route was developed when consultations with the tribe did not meet standards of Free, Prior, and Informed Consent.
Trump issued a memorandum on February 8th directing approval of the projected DAPL route, and the Army Corps of Engineers granted the final easement required to move forward. The Standing Rock Sioux are determined to continue fighting in the courts and developed an engagement strategy with the banks to prevent future financing of pipeline projects with such negative human rights and environmental impacts.
The following Tri-CRI members and clients signed the investor statement:
American Baptist Home Mission Society
Dominican Sisters of Hope
Dominican Sisters of Sparkill
Mercy Investment Services, Inc.
Province of St. Mary of the Capuchin Order
Sisters of Charity of New York
Sisters of Charity, Halifax
Sisters of St. Dominic of Blauvelt, NY
Sisters of St. Dominic of Caldwell, NJ
Sisters of St. Joseph of Brentwood
Ursuline Sisters of Tildonk, U.S. Province