Call for banks to stop funding EACOP plans

摘要

HUNDREDS of civil society organisations have called on banks not to fund the $3.5 billion to $4 billion East African Crude Oil Pipeline (EACOP) because of the threats it poses to local communities, water supplies and biodiversity. In an open letter published this week, organisations from 49 countries - including 122 based in Africa - called on banks not to participate in loans to fund construction of what will be the world's longest heated pipeline. The StopEACOP alliance also warned the pipeline will fuel climate change by transporting oil that, it estimates, will generate over 34 million tonnes of carbon emissions each year. Signatories to the three-page letter include the Africa Institute for Energy Governance (Afiego), Friends of the Earth International, 35O.org, the Catholic Agency for Overseas Development, Reclaim Finance, Sierra Club, Global Witness, the 1UCN National Committee of the Netherlands, BankTrack and Inclusive Development International (IDI).