KLP Pension Fund Divests $68 Million from Companies Affiliated with the Dakota Access PipelineTweet
KLP, a Norwegian pension fund that manages government employees’ pensions, has decided to remove its investments from companies behind the Dakota Access pipeline.
In a statement released by KLP they state, “KLP has decided to exclude Energy Transfer Partners (“ETP”), Enbridge Energy Partners, Phillips 66 and Marathon Petroleum from investments by KLP and the KLP Mutual funds (‘KLP’) as of 13 March 2017 due to an unacceptable risk of contributing to serious or systematic human rights violations.”
KLP had $68 million invested in Energy Transfer Partners (“ETP”), Enbridge Energy Partners, and Phillips 66.
Read KLP’s full fact finding report here
NPR reports that KLP’s decision stems from pressure applied by Norway’s Indigenous Sami peoples.
KLP joins a growing list of cities and others in divesting funds from banks and companies affiliated with the Dakota Access pipeline.
In February, the Seattle city council voted to divest $3 billion from Wells Fargo due to its financing of the Dakota Access pipeline. They have been joined by Davis, Santa Monica and San Fransisco.
by Wakíƞyaƞ Waánataƞ (Matt Remle- Lakota)