DutchNews, January 25, 2017
Dutch banks ING and ABN Amro are under
renewed pressure about their roles in a controversial pipeline in the US, now
president Donald Trump has vowed to press ahead with the project, broadcaster
NOS said on Wednesday.
The construction has prompted violent clashes between
the army and the Standing Rock Sioux Tribe who say construction of the pipeline
through northern Dakota could affect its drinking water supply and put
communities ‘at risk of contamination by crude oil leaks and spills.’
ING
issued an updated statement on Thursday afternoon saying that it has publicly expressed
its concerns about the project.
‘We have signed a contract, which is legally
impossible to withdraw from,’ the bank said.
‘What we can do is use our influence wherever possible to bring the
process to a satisfactory outcome for all parties involved.
The lenders to the
pipeline have commissioned additional research to be conducted by an external
independent human rights expert and will continue to monitor developments
closely, ING said.
In addition, the bank says it will meet members of the Standing
Rock Sioux Tribe in mid February.
Loans
According to fair banking campaign
group Eerlijke Bankwijzer, ING has pumped the equivalent of €233m into the
project in direct loans while ABN Amro has lent $45m to companies which are
involved with the project.
ABN Amro stressed earlier that it is not directly
funding the project but has a ‘relationship’ with one of the major investors,
Energy Transfer Equity.
‘In line with ABN Amro’s policy for sustainable
banking, the bank continuously consults with Energy Transfer Equity on
developments regarding the Dakota access pipeline, the bank said.
ABN Amro warns its client ETE about Dakota pipeline solution - New
ING, ABN Amro urged to pull out of controversial US pipeline project
Related Articles:
ABN Amro warns its client ETE about Dakota pipeline solution - New
ING, ABN Amro urged to pull out of controversial US pipeline project
Greenpeace activists unfurl large "Resist" banner from construction crane blocks from White House to protest Trump https://t.co/PbEg0i5ulN pic.twitter.com/Hsu2Ik2lyY— AFP news agency (@AFP) January 25, 2017