the newspaper Aftenposten wrote in the weekend that Norway’s largest financial conglomerates, DNB, has given milliardlån to finance a controversial oil pipeline in the united STATES.
the Project has led to huge protests, because oljerørledningen is scheduled to go under the Standing Rock Siouxindianernes main source of drinking water. The indigenous people fear that any oljelekkasjer will pollute the vannkilden their and that the building work will destroy sacred sites in the reserve.
DNB is not the only Norwegian player that is linked to the oljerørledningen Dakota Access. Its oil wealth has invested billions in the companies that are responsible for the development and operation of the pipeline.
Have invested approximately 6.7 billion
There are three companies which through various subsidiaries is responsible for building, owning and operating oljerørledningen; Energy Transfer, Sunoco Logistics, and Phillips 66. Its oil wealth had, by the end of the year significant investments in all three:
- 2.4 billion in securities of Energy Transfer Partners.
- nok 442 million in the debt obligations of Sunoco Logistics.
- 2.9 billion in shares in Phillips 66, as well as around 1 billion in securities in the same company and the subsidiary.
It will say that its oil wealth has invested over nok 6.7 billion kroner in companies that are responsible for oljerørledningen, which has been indigenous to going to court.
– Can unfortunately not comment on individual companies
despite significant amounts of money, sitting the Government pension fund Global, managed by Norges Bank Investment Management (NBIM)) again with small stakes in the companies. Its oil wealth stated that they expect that the companies they invest in, respect and take respect for human rights.
the Sponsors to Siouxindianerne mean just that urfolksrettighetene and human rights are threatened by the oljerørledningen.
– Think its oil wealth that the Energy Transfer, Sunoco Logistics, and Phillips 66 responds to the expectations to respect human rights?
– We can unfortunately not comment on individual companies, but we expect companies to respect human rights and take into account human rights in their operations. Our expectations are aimed first and foremost against the companies ‘ boards and is a starting point for dialogue with companies on human rights, writes ms. Thomas Sevang in NBIM in an e-mail.
the Parliament will request that the fund pulls out
the Parliament has in a letter to its oil wealth prompted a clarification on what kind of interests the fund has in oljeprosjektet.
In his answer to the Parliament underlines its oil wealth that they do not have direct ownership interests in the project itself, but that they have shares in the companies that owns the project.
“the Work of responsible stewardship is an important part of the mission of the central Bank and an integrated part of the investment process”, called it in svarbrevet to the Parliament.
It is the council on ethics, appointed by the Ministry of finance, which assesses whether its oil wealth should withdraw investments in certain companies. The parliament has now addressed itself to the council on ethics.
– We ask the council on ethics to consider whether its oil wealth should pull investments in the businesses that are related to the oljerørledningen, says sametingsråd Sally Karina Muotka to Aftenposten.
Ownership interest in the occurrence in which the oil is to be transported from the
its oil wealth also has around 800 million in shares and debt obligations of the company Marathon Oil Corp, which owns around 1100 square kilometers of oljeforekomsten the Ground in North Dakota.
The planned oljerørledningen will carry oil from the oljeforekomsten the Bakken through South Dakota and Iowa to Illinois.
Statoil is also a major player in the oljeforekomsten the Ground and owns more than 1300 acres in the area. Statoil entered the Bakken in 2011, when they bought up a company for 4.4 billion dollars.
– There are no relations between Statoil and this oljerørledningen. We have activity in the area, but have no relation to the protests that are happening, ” says Erik Haaland, media relations in Statoil.
Norwegian banks are also on ownership
Also DNBs fondsforvaltningsavdeling DNB Asset Management has, via the funds DNB Global Index and DNB Global Credit smaller holdings in several companies that are involved in oljeprosjektet.
DNB has so far not confirmed information that indicates that the project violates human rights. Nevertheless, we look seriously at the claims that the last time is been made. Therefore, we ask now further questions to the project to ensure that the project is in line with current rules, regulations and our own policy, writes cio Even Westerveld in an e-mail.
Despite fondsavdeling has invested 20 million in shares in one of the companies.
” We can confirm that Nordea fund owns a minor stake in the company, Phillips 66, out of this we have no comments, write officer Christian Steffensen at Nordea in an e-mail.
Donald Trump has invested in the project
Also, the us presidential candidate Donald Trump has interests in companies.
Trump should have invested between 500,000 and 1 million dollars in both Energy Transfer Partners and Phillips 66. It comes out in Trumps monthly reporting to the Federal Election Commission, the supervisory authority for valgkampfinansiering, writes The Guardian.
its oil wealth with milliardgevinst at the Pokémon Go, Here is a popularitetskonkurranse where Donald Trump shut Hillary Clinton down in the boots.
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