US Bank Divestment of Oil and Gas Pipeline Projects

19
Apr

US Bank Divestment of Oil and Gas Pipeline Projects

Stop Bank’s Attack on the Energy Infrastructure Industry and its Workers

On April 18, 2017, USBancorp, parent of U.S. Bank, announced at their 2017 Annual Meeting of Shareholders their new “2017 Environmental Responsibility Policy.” The policy expressly prohibits the bank from financing oil and natural gas pipeline projects. It further subjects new and existing business banking customers who provide construction, equipment, supplies or services to the energy infrastructure industry to discriminatory heightened scrutiny of their policies and practices. This misguided action affects millions of American workers who work hard every day to provide construction, equipment, supplies, logistics, professional services and technology to improve and expand our nation’s energy infrastructure.

In response to this action, EEIA sent an open letter to USBancorp officers, directors and shareholders and to President Trump downloadable here, copying his Cabinet officials and agency heads objecting to the bank’s discriminatory policies against financing oil and natural gas pipelines.

US Bank’s actions are a direct assault on America’s energy independence and economic vitality, as our country moves to rebuild its infrastructure and put American’s back to work. At risk are the livelihoods, families and communities of millions of energy infrastructure workers, employed in over 120,000 companies in 60 industries, annually contributing more than $170 billion to the U.S. economy, working in every state of the union. USBancorp’s new anti-pipeline policy is discriminatory and an insult to the hard-working men and women of the energy supply chain.

Take action by telling your federal and state elected officials about your opposition to U.S. Bank’s ill-advised policy, and urging them to work for energy policies that support the American economy and the hard-working men and women who keep it strong by delivering affordable, clean energy to homes and businesses.

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