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25 Aug 2017

Paul Verney, Responsible Investor

Dakota pipeline lawsuit against campaign groups: the SRI sector reacts [subscription required]

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Energy Transfer Partners’ lawsuit against NGOs it terms “rogue eco-terrorists” could damage future investments in controversial projects such as the Dakota Access Pipeline (DAPL) project, according to sustainable investment industry figures...

Peter Chapman, Executive Director of Canadian shareholder body SHARE...said: “Lawsuits against civil society organizations that are initiated by corporations risk reputational damage for companies and their shareholders and financing partners.

“Investors look for company commitment to good relations with indigenous communities backed up sound management, good governance and successful implementation. Investors expect companies to learn from their experience and be forward-looking.”...

Boston Common helped lead the investor coalition that issued the investor statement in February to the 17 banks financing the project and it also helped organize other investor initiatives regarding DAPL including recruiting lead investors that filed shareholder proposals with Marathon Petroleum, Enbridge and Phillips 66.

Heim said he expected the coalition of investors that he's worked with on DAPL to share its view that pipeline companies should have a consultative process with Indigenous Peoples...

Part of the following stories

USA: Energy Transfer sues BankTrack, Greenpeace & others for allegedly disseminating false information about Dakota Access Pipeline

Energy Transfer lawsuit (re Dakota Access Pipeline, USA)