U.S. Bank to stop financing pipeline construction

This April, U.S. Bank has become the first major bank in the United States to formally exclude gas and oil pipelines from their project financing. This groundbreaking change to their Environmental Responsibility Policy was publicly announced at the annual shareholders meeting in Nashville. In addition to no longer providing “project financing for the construction of oil or natural gas pipelines,” the bank has stated that relationships with their clients in the oil and gas industries will be subject to “enhanced due diligence processes.”​ …. [Persbericht]