John, we have some great news to share with you.

Together, we got a major backer to drop the destructive East African Crude
Oil Pipeline (EACOP)! Japanese mega-bank, Sumitomo Mitsui Banking
Corporation (SMBC), was one of three key financial advisors for the
project. For a long time, they refused to budge – but now they’ve said
they won’t be involved.^1

This victory is a direct result of our work as a movement. It’s because of
the struggle led by communities in Uganda and Tanzania in Africa, and
because we, as an international movement, united in solidarity and
amplified their call to #StopEACOP.



[ [link removed] ]Our work doesn’t end here though. In the coming weeks, we have to keep
putting pressure on EACOP’s other backers to drop the project and stop
this pipeline for good. Will you chip in
$3.50
now to power our work to end the era of fossil fuels?

[ [link removed] ]CONTRIBUTE
$3.50We
had solid inside knowledge that SMBC was one of a small number of crucial
financial advisors to the project and has given Total, the oil company
behind EACOP, over US $ 1 billion in recent years.^2 Before now, SMBC had
refused to comment on its involvement with EACOP. That all changed on
Tuesday when they said they were "not currently involved.”^3

So, why is it significant that SMBC dropped out?

It leaves Total having to deal with another PR headache – right before
they hold a hugely important shareholder meeting next week.

This news from SMBC makes other investors think twice about joining in.
And crucially, it could delay the project even further, and eventually
stop it from happening. But most importantly, it shows that people power
works.

Our brothers and sisters in Uganda and Tanzania have been fighting this
pipeline for years. And more recently our global movement has joined them
in solidarity. Over 40,000 people signed our petition! Plus, in February this year
our movement took action against SMBC in cities across the globe.

[ [link removed] ]But now is not the time to slow down. We have actions planned for
Total’s big shareholder meeting next week, and even more campaigns on the
horizon to keep fossil fuels where they belong: in the ground. Will you
chip in
$3.50
now to power our work?

[ [link removed] ]CONTRIBUTE
$3.50

We can’t thank you enough.

– Team 350

 

1 & 3 - [ [link removed] ]Bloomberg
2 - [ [link removed] ]Stop EACOP




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350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.