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USA: 130 investors call on banks financing DAPL pipeline to address Sioux tribe's rights citing reputational & financial risks
Author: Boston Common Asset Management & 129 investors, Published on: 22 February 2017
"Investors Urge Banks to Support Re-routing Dakota Access Pipeline, Protect Water", 17 Feb 2017
A coalition of over 130 investors representing over $685 Billion in assets under management called on banks financing the Dakota Access Pipeline (DAPL) to address or support the Standing Rock Sioux Tribe’s request to reroute the pipeline and avoid their treaty territory. Lead investor Boston Common Asset Management is joined by Storebrand Asset Management and Calvert Research and Management, with support from First Peoples Worldwide—along with CalPERS and the Comptroller of the City of New York. In a statement today, the investors encourage the banks to take urgent action and arrive at a peaceful solution that is acceptable to all parties. The investor group cites concern about reputational and potential financial risks for banks with ties to DAPL. Banks may be implicated in conflict and controversies related to the pipeline and could face long-term brand and reputational damage resulting from consumer boycotts and possible legal liability.