Firm faces steep costs and “unlimited liability” for a Trans Mountain spill.
On April 8, Kinder Morgan Canada held an unusual Sunday conference call to announce an immediate halt to all non-essential spending on the controversial Trans Mountain pipeline, threatening to pull the plug on the project completely unless the escalating political conflicts over the pipeline could be resolved by May 31.
Amongst all the hooting and hollering over the Kinder Morgan Trans Mountain pipeline, it’s easy to lose track of how on earth we ended up in this place of dysfunction.
Europe’s largest bank, HSBC, said on Friday it would mostly stop funding new coal power plants, oil sands and arctic drilling, becoming the latest in a long line of investors to shun the fossil fuels.
Other large banks such as ING and BNP Paribas have made similar pledges in recent months as investors have mounted pressure to make sure bank’s actions align with the Paris agreement, a global pact to limit greenhouse gas emissions and curb rising temperatures.
