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Desjardins, one of Canada’s largest financial institutions, is about to turn its back on Canadian energy workers after being pressured by environmental activists in Canada, the U.S. and Europe.
Rather than buckle to activists who have no interest in a fair and honest debate on our energy resources, Desjardins should stand up for Canadian jobs, Canadian energy and decisions made in Canada that benefit all Canadians. This is important – please make your voice heard. Tell Desjardins to support responsible resource development in Canada.
Desjardins, the biggest association of credit unions in Canada, announced recently that they are suspending lending to Kinder Morgan’s Trans Mountain pipeline and reviewing whether they’ll ever fund another pipeline project. This would impact projects like Enbridge’s Line 3, TransCanada’s Keystone XL project and TransCanada’s Energy East pipeline.
Desjardins appears to have given into activists who oppose the Canadian oil sands and other resource development projects in Canada. In a letter that included the signatures of 11 American groups, plus three from Europe, there are demonstrably false facts – that the oil sands are “massively destructive” (they aren’t), that the pipeline “abuses” Indigenous people (it doesn’t), that it will make our iconic orcas go extinct (it won’t), that the current pipeline has too many leaks already (they don’t), and that the Fraser River will be damaged (it won’t).
Activists are threatening financial institutions as “prioritytargets” and threatening “significant reputational risks,” citing the SouthDakota Standing Rock protest model.
Enough with the nonsense and lies and indeed the threats. It’stime for Canadians to push back. Kinder Morgan did the hard work to #Get2Yes –and now we need our governments and lenders to #Stick2Yes.
The National Energy Board undertook a 29-month independentreview of the TMP and approved the project subject to Kinder Morgan meeting 157environmental and technical conditions during the construction and operation ofthe pipeline. Subsequently, the Government of Prime Minister Trudeau approvedTMP as did the Province of British Columbia. The B.C. Government added another37 conditions.
All Canadians can take comfort in not only the robust nature ofthe review of TMP but also in the 194 environmental and technical conditionsimposed on Kinder Morgan by the Federal and Provincial governments.
The energy sector accounts for a significant part of Canada’s wealth and prosperity. More than 425,000 people support their families and communities by working in the oil and gas sector. The industry is the single largest private sector investor in Canada, forecast to invest $44 billion in 2017.
In addition, the energy sector annually contributes an estimated $15 billion to government revenues in the form of royalty payments, land payments and corporate and municipal taxes, ensuring all Canadians benefit from our responsible resource development.
Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said on...