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Most of Europe’s largest 50 banks have rejected EACOP oil pipeline
• Over 40 banks globally have ruled out finance for the controversial Uganda-Tanzania pipeline, including 28 European banks.
• Largest European banks not to have ruled out EACOP finance are Lloyds, UBS, Caixa Bank, Danske Bank, Sberbank and Commerzbank.
• Largest European banks not to have ruled out EACOP finance are Lloyds, UBS, Caixa Bank, Danske Bank, Sberbank and Commerzbank.
Last September, Uganda’s minister for hydrocarbons claimed that at least seven European banks have committed, in private, to financing TotalEnergies’ East African Crude Oil Pipeline project (EACOP) despite the extreme risk it poses to people and the environment. However, new engagement and policy analysis from BankTrack covering the 50 largest European banks shows a dwindling number of…
