263 NGOs up against Eacop, and six major banks have already opted out

MK254

JF-Expert Member
May 11, 2013
32,183
50,251
The East African Crude Oil Pipeline (Eacop) project took a new twist on Monday when 263 non-governmental organisations sought to persuade at least 25 banks listed as potential financiers of the $3.5 billion development not to participate, citing environmental and social risks.

The NGOs in their letter to the lenders claimed the project would fuel climate change by transporting oil generating over 34 million tonnes of carbon emissions each year.

Under pressure to stop financing fossil fuels including coal projects, six banks that the pipeline’s lead investors – French oil major Total, China National Offshore Oil Corporation (CNOOC) and the governments of Uganda and Tanzania – target as lenders, have reportedly indicated that they would not take part.

At 1,445 kilometres, the Eacop is slated to become the world’s longest heated crude oil pipeline spanning Uganda and Tanzania, and posing immense threats to local communities, water supplies, and biodiversity in Uganda, Tanzania, Democratic Republic of Congo and Kenya, the organisations said in their letter.

The pipeline will transport crude oil from Hoima district in western Uganda to Chongoleani in Tanga, the northeastern port city in Tanzania.

The letter is addressed to Sim Tshabalala, the CEO of Standard Bank of South Africa, and its Ugandan subsidiary Stanbic Bank Uganda boss Anne Juuko.


 
The NGOs in their letter to the lenders claimed the project would fuel climate change by transporting oil generating over 34 million tonnes of carbon emissions each year.

And the biggest pile of bullshit of the year award goes to that statement by the NGOs
 
The Good thing is that our Governments now are in position to financing such projects,
$3.5b is a peanut money for a Government like Tanzania,
Huu ufala ulianza kule Nyerere Dam na wote wakaufyata sababu GOT is fully funding the project $3b worthy,
Wazungu wana mabomba yanatoka urusi hadi ulaya supplying them with gas but they don't want such transformation to happen in Africa. Africa is insignificant contributor to global climatic Change, they should probably talk to US and china that severely destroyed the creation.
New York alone has done much harm to the nature than the Entire Africa Combined yet the stupid NGOs are just quiet.
 
The NGOs in their letter to the lenders claimed the project would fuel climate change by transporting oil generating over 34 million tonnes of carbon emissions each year.

And the biggest pile of bullshit of the year award goes to that statement by the NGOs
Hawa NGOs walikuwa wapi wakati Kenya inasomba crude Lokichar kwa kutumia malori kwenye Early Oil Pilot Scheme? au wanataka tusafirishe 216,000 barrels per day kwa malori?
 
Ingekuwa kipindi cha JK sawa aliyeacha kujenga airport Mugumu ila baba JPM yupo mjengoni! Watangoja!
 
The East African Crude Oil Pipeline (Eacop) project took a new twist on Monday when 263 non-governmental organisations sought to persuade at least 25 banks listed as potential financiers of the $3.5 billion development not to participate, citing environmental and social risks.

The NGOs in their letter to the lenders claimed the project would fuel climate change by transporting oil generating over 34 million tonnes of carbon emissions each year.

Under pressure to stop financing fossil fuels including coal projects, six banks that the pipeline’s lead investors – French oil major Total, China National Offshore Oil Corporation (CNOOC) and the governments of Uganda and Tanzania – target as lenders, have reportedly indicated that they would not take part.

At 1,445 kilometres, the Eacop is slated to become the world’s longest heated crude oil pipeline spanning Uganda and Tanzania, and posing immense threats to local communities, water supplies, and biodiversity in Uganda, Tanzania, Democratic Republic of Congo and Kenya, the organisations said in their letter.

The pipeline will transport crude oil from Hoima district in western Uganda to Chongoleani in Tanga, the northeastern port city in Tanzania.

The letter is addressed to Sim Tshabalala, the CEO of Standard Bank of South Africa, and its Ugandan subsidiary Stanbic Bank Uganda boss Anne Juuko.


Pumbavu kabisa, hizo NGO za Gikuyu hata zingekuwa 1000 bado bomba litajengwa tu.

Wakati JNHPP inaanza kujengwa walikuja kwa style hiohio sasa hivi Eko kimyaaa..
 

Similar Discussions

Back
Top Bottom