Current Topics: Dakota Access Pipeline (DAPL)
In view of the high level of public attention and criticism that the Dakota Access Pipeline (DAPL) has attracted, we want to respond to questions about Credit Suisse's involvement in the project and to state our position regarding this matter.
We have repeatedly heard or read that Credit Suisse is playing an important role in the construction of the DAPL. What is the nature of Credit Suisse's involvement in the financing of the DAPL?
Credit Suisse is not involved in project finance for the DAPL... Like numerous other banks, Credit Suisse has business relations with companies that are involved in the DAPL project...
We understand that there are different viewpoints and we are conducting a dialogue with various groups of stakeholders in this specific case – including NGOs, networks and the indigenous population affected by this matter.
Credit Suisse is also engaging in a dialogue with NGOs and networks – including Greenpeace and representatives of the affected indigenous population – regarding the DAPL... In the period since December 2016, various personal meetings and phone calls have taken place between representatives of Credit Suisse and Greenpeace, other NGOs and networks, as well as representatives of the Standing Rock Sioux. In addition, Credit Suisse has responded to around 40 client letters and 2,000 e-mails relating to the DAPL...
Various banks have since refrained from providing further loans to the conglomerate involved in the DAPL project (ABN Amro, Bayerische Landesbank and BNP Paribas). Why is Credit Suisse maintaining its business relations with it?
The companies referred to were directly involved in the financing of the DAPL – unlike Credit Suisse