MADISON (WKOW) – Climate activists staged a flash mob outside a downtown bank as part of a protest to pressure Wall Street banks to stop lending for the “Line 3 Replacement Project Pipeline Project.”
The Stop the Money Pipeline coalition has launched a nationwide # DefundLine3 campaign and is calling for the release of banks involved in pipeline loans: Chase, Citibank, Wells Fargo, Bank of America and Royal Bank of Canada. …
Organizers of the 350 Madison Climate Action Team, who organized Saturday’s protest, said it was an opportunity to raise awareness of their mission.
“Banks could easily and legally end their financial relationship with Enbridge Corporation, the company behind the third line,” said organizer Dianne Brakarsh. “So that’s why we’re doing it now.”
According to Enbridge Inc., the Canadian pipeline company that finances the project, the “Line Replacement Project 3” runs through Alberta, Canada to Superior, Wisconsin; The original pipeline was built in the 1960s.
Defending the pipeline, the Enbridge site says there are petroleum products that “are an integral part of our daily lives.”
The pipeline’s website states that in evaluating the pipeline, they “determined that replacing line 3 was the best option to maintain the integrity of the system while minimizing disruption to landowners and communities.”
A JPMorgan Chase spokesman said the bank is accepting climate change as a reality and referred to what it calls “a financing strategy aligned with the Paris Agreement.”
“By targeting $ 1 trillion in funding and assistance for green initiatives such as renewable energies and clean technologies – part of the $ 2.5 trillion goal to advance climate action and sustainable development,” a JPMorgan spokesperson said. Chase.
27 News reached out to Enbridge INC. But they didn’t immediately respond.