As citizens of Virginia and West Virginia, we have been asked over and over to sacrifice our safety, security, health, and regional economy for dangerous fossil fuel projects that boost the profits of corporations and their wealthy investors, while leaving us to bear the costs. Now a consortium of out-of-state gas companies is again demanding we subsidize their wealth and sacrifice our property rights, water, and outdoor recreation industry by insisting we “host” the 300-mile Mountain Valley Pipeline for fracked gas. But these companies, led by EQT Midstream Partners (EQM), can’t build this pipeline alone: they need approval from the Federal Energy Regulatory Commission and state regulators – and they need financing from big banks to front the pipeline’s $5.5 billion price tag.
Is Your Bank a Key Backer of the Mountain Valley Pipeline?
According to research by Oil Change International, six major U.S. ‘main street’ banks – led by Bank of America and Wells Fargo – are key financial backers of the Mountain Valley Pipeline. These banks are ensuring that EQM has access to adequate cash as it seeks to create a massive pipeline corridor through our region. Whose cash? Your cash.
Join the Movement to Divest from MVP!
Enough is enough. Commit to move your personal finances out of institutions bankrolling the destruction of our future – and call on them to defund the Mountain Valley Pipeline. Virginia and West Virginia residents are joining a movement of communities, tribes, and cities across North America who are taking action to demand that big banks stop funding dirty pipelines, from Dakota Access to Keystone XL. Banks are feeling the heat – cities have committed to divesting over $4 billion from Wells Fargo and other key banks behind the Dakota Access Pipeline and U.S. Bank recently committed to end project loans for oil and gas pipelines (though it still funds pipeline companies like EQM). It’s time to turn up the pressure in our region.
Complete the following steps to move your money out of the key banks behind the Mountain Valley Pipeline.
- Step 1: Move Your Money. Close your personal banking and credit card accounts at Bank of America, Wells Fargo, and other major banks behind the pipeline. (Find resources here and a guide on how to move your money here.)
- Step 2: Write a Letter. After you go to your bank and publicly close your account, write to Executives and Managers at the bank to explain your reasons. See a sample letter here.
- Step 3: Share this Page. Share this link – https://powhr.org/divestmvp/ – with your friends and ask them to stand with you to defend Virginia and West Virginia. Click here to share it on Facebook, or here to share it on Twitter.
Check out these resources to learn more about the banks behind MVP and the movement to defund pipelines:
- Read the Oil Change briefing: “The Money Behind the Mountain Valley Pipeline: Is Your Bank Financing Another Fracked-Gas Disaster?”
- Find resources on alternative banks compiled on the Defund DAPL website at http://www.defunddapl.org/copy-of-alternatives.
- Learn about other pipeline divestment campaigns gaining momentum at defunddapl.org and mazaskatalks.org.