DNB withdrew from Dakota Pipeline Project

DNB services stress testDNB logo. Photo Norway Today Media.

DNB has sold out of the controversial oil pipeline project Dakota Access Pipeline in the United States. One explanation is regard for the indigenous population.

– By selling out, we want to send a signal about the importance in this type of projects involving, and listening to affected indigenous peoples in a better way.

Although there have been attempts at negotiations from the project side, there is too much in our view which indicates that it has not been sufficient, says, Manager for large customers and international businesses in DNB, Harald Serck-Hanssen, in a statement. The Indigenous Group, Standing Rock is specifically cited as interlocutor.

Thousands of people have demonstrated against the project. In November DNB and the other banks that participated in financing hired an independent human rights expert who would go through the project.

Sami Parliament President Vibeke Larsen has meetings with the Petroleum Fund’s Advisory Council in Oslo on Monday – along with representatives from Standing Rock. The DNB exit is welcomed.

– This is awesome news. Now it’s just the oil fund which must understand that they too must respect the rights of indigenous peoples, says Larsen told Aftenposten.


Source: NTB scanpix / Norway Today