Canadian banks are some of the most major funders of the Coastal GasLink Pipeline, a proposed 670-kilometer-long pipeline that would carry “natural” gas from northeast BC to a future liquefied natural gas terminal on the coast for international markets. This project is opposed by many, including the Wet’suwet’en hereditary chiefs, whose traditional land is being invaded to build the pipeline. As we post this, RCMP are onsite actively arresting and removing land defenders so this Canadian bank-funded, climate-change-fueling pipeline can be built.
In the midst of the worst climate emergency in the history of British Columbia - a reflection of the dangers of ongoing hydrocarbon dependence - the RCMP attacked and removed Wet’suwet’en land defenders opposing the construction of the Coastal GasLink pipeline project. Hereditary chiefs of all 5 clans have confirmed the Wet'suwet'en nation's opposition to the controversial natural gas pipeline project, and have emitted an eviction notice to the CGL project, and the RCMP.
Canadian banks have poured over $700 billion into fossil fuels since the Paris Agreement and are major lenders to the CGL pipeline, which Wet’suwet’en Land Defenders are resisting. These same banks have publicly lauded themselves on reaching net-zero in their lending. But, if built, the Coastal Gaslink Pipeline these same banks fund would expedite the construction of subsequent pipelines, and create incentives for gas companies to tap into shale deposits along the pipeline right of way.
We can’t be building more pipelines. The proposed project is estimated to release 3.517 Mt/year of CO2e, which would be a 0.50% increase to national emissions, and a 6% increase to provincial emissions, putting Canada’s Paris Climate Agreement targets out of reach.
Send the one-click wonder of an email to Canadian Banks—RBC, BMO, Desjardins (yes, even the credit union!), ScotiaBank and TD. If you do it now, you’ll be protecting the land for generations to come.