The Trans Mountain tar sands pipeline is spilling into drinking water aquifers, on sacred sites, and feeding catastrophic climate change, and this pipeline wouldn’t be possible without major insurers backing the project.
This fall, we will see again and again how the petitions for "a just recovery" and the calls to "build back better" must be backed up by working class defiance and working class solidarity. And not just in Alberta....
- Gene McGuckin, retired past president, CEP Local 1129
Frankfurt-based Deutsche Bank is joining a lengthening list of European lenders and insurance companies that say they won't back new oilsands projects.
The German bank said Monday its new fossil fuels policy will also prohibit investing in projects that use hydraulic fracturing or fracking in countries with scarce water supplies, and all new oil and gas projects in the Arctic region.
An environmental law group wants a court to suspend the Alberta government's inquiry into oil and gas industry critics until there's a decision on whether it's legal.
The United Conservative government contends foreign interests are bankrolling environmental opposition to Canadian fossil-fuel projects.
In June 2019, It appointed forensic accountant Steve Allan to head a public inquiry.
Zurich Insurance Group has decided not to renew coverage of the Trans Mountain pipeline, according to a media report.
The news comes roughly a year after the large Swiss insurance company declared it would reject companies that operate “purpose-built” transportation infrastructure for oilsands products, including pipelines.
