Dear John,
The Atlantic Coast Pipeline is a dirty methane gas pipeline owned by Duke Energy and Dominion. It’s set to cut across Virginia, West Virginia, and North Carolina. It will even cut across the Appalachian Trail.
We still have a chance to stop this pipeline -- it’s far over-budget and Duke is struggling to finance it. Duke just drummed up 16 banks, including Bank of America, to buy 25,000,000 shares to cover its debt for this project. Shame on Bank of America!
Duke may have what it needs to continue the project now -- but as it drags out, Duke will surely need more financial backing in the future. So all 16 banks -- including Bank of America -- should publicly declare that they will not provide future financing for the ACP. But these banks will only act if they feel pressure from consumers like you.
Take action NOW: Tell Bank of America and other Big Banks to publicly commit to no future financing for the Atlantic Coast Pipeline!
The ACP would carry enough fracked gas to generate over 67 million metric tons of climate pollution per year. That’s the equivalent of 20 average U.S. coal plants. It would require 38 miles of mountaintop removal. And it would damage farm and forest land.
This would lead to habitat loss, separation of wildlife populations, and loss of the recreational value of natural areas.
What’s more, the pipeline would disproportionately harm poor, African-American and Indigenous communities all along the route. A fracked gas compressor station, one of the largest ever to be built, is set to be located in Union Hill as part of the project. Union Hill is an African-American community of great historical and cultural significance in Virginia. And thirty thousand Native peoples live in census tracts considered part of the project area in North Carolina alone.
The evidence is clear: This pipeline is bad for our environment and bad for people. Banks have no business financing it. Will you speak up today to stop it?
Help stop the ACP in its tracks! Tell fossil fuel banks: Not one cent more for the Atlantic Coast Pipeline.
The ACP is already two years behind schedule and substantially over budget. Duke Energy recently estimated the project cost at $7.0-$7.8 billion -- rather than the $5.1 million initially estimated. It’s not even a smart investment for the banks involved.
Action from people like you has convinced Big Banks to stop funding pipelines time and time again. Just this week, Goldman Sachs announced that it will not support new Arctic oil exploration and production, including in the Arctic National Wildlife Refuge.
ING shifted its money out of the Dakota Access Pipeline as a result of public pressure. And in Europe, BNP Paribas committed to stop financing the tar sands sector, including pipelines.
Now, we need your help pushing other banks to follow suit. Our planet and our people cannot afford one more gas pipeline. Will you help end this atrocious project?
Help send 35,000 messages: Tell Big Banks to just say no to the Atlantic Coast Pipeline!
Standing in solidarity,
Donna Chavis,
Senior fossil fuels campaigner,
Friends of the Earth
