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Article

7 Feb 2017

Author:
Nordea

Exclusion of Dakota Access Pipeline companies

Nordea’s team for Responsible Investments recommends an exclusion of the three companies behind the Dakota Access Pipeline. The three companies in question are Energy Transfer Partners, Sunoco Logistics and Philips 66. The U.S. Department of the Army on Feb. 7, 2017, announced that it intends to grant the final permit for the pipeline. This allows for it to be constructed according to the current route, under Lake Oahe and close to the Standing Rock Sioux Tribe’s reservation.  The department also cancelled the plan for an additional environmental-impact statement. Nordea has sought a dialogue with the three companies behind the pipeline about an alternative route. The companies have declined any form of dialogue with Nordea.

Part of the following timelines

USA: Nordea excludes ETP, Sunoco Logistics & Phillips 66 from investments due to decision to proceed with disputed route for Dakota Access Pipeline

USA: "Water protectors" leaving protest camp over Dakota Access Pipeline following govt. decision to grant permit