BREAKING: German Bank BayernLB seeks to Divest from Dakota Access PipelineTweet
“Wasser Ist Leben – Water is Life”
February 23, 2017 – Today, the German bank BayernLB, announced that they will “withdraw from the financing contract [of the Dakota Access pipeline] at the earliest possible date.” Further, they will not be renewing their contract with Energy Transfer Partners.
BayernLB, who currently has $120 million invested into the Dakota Access pipeline, has been a target of environmental groups and supporters of water protectors at the Standing Rock Sioux Tribe to divest from both the pipeline and fossil fuels and to invest in a green future.
According to Andrea Marcos, who is active in pushing for BayernLB to divest, “As a result of public pressure, Bavarian owned public bank Bayern LB will divest $120 million from the Dakota Access Pipeline. The Landesbank met in a private financial meeting on Thursday and announced that they will divest. They are currently in the process of making an exit plan. The larger context is that the bank is in process with the government, being a gov-owned bank, and the gov called them to a meeting to discuss the investment in DAPL, and they collectively have decided to divest.”
On February 17th, an mass action was held at BayernLB where over 260,000 signatures were delivered opposing the Dakota Access pipeline.
Activists timed their demonstration to coincide with the visit of Vice President Mike Pence and Secretary of State Rex Tillerson to Germany, and activists will also highlight their opposition to the “climate – killer” Trump administration.
There, activists demanded “BayernLB to divest its $120 million investment in the construction of the Dakota Access Pipeline across treaty – protected land of the Standing Rock Sioux in North Dakota.”
Berlin joins a growing movement of cities and Tribes pushing for the divestment of the Dakota Access pipeline and from fossil fuels.
by Wakíƞyaƞ Waánataƞ (Matt Remle- Lakota)