• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Canada’s Desjardins lifts temporary halt on pipeline lending

December 6, 201711:13 PM Reuters0 Comments

Desjardins head office in Levis, QC
Canadian lender Desjardins Group has lifted a moratorium on loans for energy pipeline projects, CBC News reported on Wednesday, citing Canadian Press.

Chief Executive Guy Cormier said the credit union would continue to live up to its agreements with energy companies after extensive consultations with supporters and opponents of the sector over the past four months, according to the report.

Desjardins was not immediately available for a comment outside regular business hours.

Desjardins, the largest association of credit unions in North America, will also invest in renewable energy projects and reduce the carbon footprint of its publicly traded portfolio, it said in a statement on Wednesday.

Desjardins said in July it was considering a temporary halt on pipeline funding, citing concerns about the impact such projects may have on the environment.

The credit union had previously agreed to lend to a subsidiary of Kinder Morgan Canada , owned by Houston-based Kinder Morgan Inc , for the expansion of Trans Mountain pipeline.

However, a coalition of indigenous and environmental groups in June called on 28 major banks to pull funding for Trans Mountain, citing the risk of pipeline spills and their potential contribution to climate change.

Desjardins will consult affected communities, including First Nations, before making a business decision, the lender said in the statement on Wednesday.

(Reporting by Shubham Kalia in Bengaluru; Editing by Amrutha Gayathri)

Kinder Morgan Trans Mountain pipeline

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Week in Review – Stock gainers/fallers and most read articles
  • US drillers cut oil and gas rigs for third quarter in a row – Baker Hughes
  • Coastal GasLink pipeline project 98 percent complete
  • US natgas prices ease 1% as mild weather keeps demand low
  • Canadian Rig Count Summary – Active rig count reaches 187

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.