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Desjardins Group Lifts Ban On Pipeline Funding – Huffington Post Canada
by ahnationtalk onDecember 7, 201789 Views
“We want to work with the sector to support the transition to clean energy.”
CALGARY — A moratorium on loans for energy pipeline projects has been lifted, Desjardins Group said Wednesday, as it vowed to consider environmental, social and governance practices of clients in all future lending decisions.
The decision in July to temporarily stop pipeline loans had been applauded by environmental groups and First Nations opposed to oilsands development who urged the Quebec credit union to make the freeze permanent.
They also asked Desjardins to withdraw from pipeline lending commitments such as its $145-million stake in a loan package for Kinder Morgan Canada Ltd.’s (TSX:KML) Trans Mountain pipeline expansion project to bring more oilsands crude from Alberta to the West Coast.