Water protectors from the Standing Rock Sioux Tribe can now declare their most tangible victory to date — one of the heftiest investors in the Dakota Access Pipeline, Norway’s largest bank, has pulled its assets from the project.
Just 10 days ago, DNB warned it might withdraw funding for construction of the contentious pipeline if concerns raised by the Standing Rock Sioux were not addressed promptly. That statement, cited by Reuters, read:
“DNB looks with worry at how the situation around the pipeline in North Dakota has developed. The bank will therefore take initiative and use its position to bring about a more constructive process to find a solution to the conflict.
“If these initiatives do not give appeasing answers and results, DNB will consider its further involvement in the financing of the project.”
Now, in a display of astonishing integrity, the bank has followed through on part of its promise — pulling assets invested in Energy Transfer Partners’ disputatious pipeline.