Citi's Statement on the Dakota Access Pipeline Project
November 30, 2016 09:15 PM
Citi has been closely monitoring developments related to the Dakota Access Pipeline (DAPL), and we continue to be concerned about the situation. Throughout this process, and consistent with our commitment to sustainability and respect for human rights, we have remained engaged with Energy Transfer Partners and Sunoco Logistics to discuss our concerns and advocate for constructive dialogue with the Standing Rock Sioux Tribe in an effort to come to a resolution.
Foley Hoag LLP, an independent human rights expert, has been retained to advise the lenders to the Dakota Access Pipeline and to review various matters related to the permitting process, including compliance with applicable law related to consultations with Native Americans. This review will include the evaluation of policies and procedures employed by the project’s sponsors, Energy Transfer Partners and Sunoco Logistics, in the areas of security, human rights, community engagement and cultural heritage. Following this review, the expert will develop recommendations for improvements in line with international standards with respect to the sponsors’ social policies and procedures going forward. The lenders understand that the sponsors will review and consider all of the recommendations.
Citi also supports the federal government’s efforts to engage tribal governments on how their views can be better incorporated into project review processes, and we will closely follow the outcomes of those consultations. As the project review continues, we strongly encourage all parties to establish and maintain a safe and respectful environment for both the protestors and pipeline workers.
Originally posted November 8th, 2016, updated November 30th, 2016.
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