A Norwegian pension fund is sending a strong message by pulling it’s investment from the Dakota Access Pipeline (DAPL). KLP, the second largest pension fund in Norway, recently announced plans to sell $68 million in shares from companies involved in its construction. While many people and cities have boycotted banks that support the DAPL, this move is a more direct hit to the funding of the pipeline.
Hardest hit was Energy Transfer Partners (ETP), the company that plans to build the DAPL. ETP released its plans for the pipeline in 2014 and was met with immediate criticism from the Standing Rock Sioux Tribe, who were concerned about their land and water. The conflict gained international attention last year and has been going strong ever since.
Norwegian Pension Fund Divests From Companies Behind DAPL https://t.co/PalELwOKyL
— NPR (@NPR) March 17, 2017
The decision by KLP to remove funding from the controversial project was in response to pressure from the Sami Parliament of Norway, a group that represents the interests of Norway’s indigenous people. The Sami have also had to defend their land from the fossil fuel industry, so they certainly understand what the Standing Rock Sioux are going through.
Vibeke Larsen, president of the Sami parliament, said this to the Guardian:
“We feel a strong solidarity with other indigenous people in other parts of the world, so we are doing our part in Norway by putting pressure on the pension funds.”
The Sami are actually made up up several indigenous tribes living in Norway, Sweden, Finland, and Russia. They joined forces to protect their rights politically and defend their land from mining operations in the region.
Huge Norwegian pension fund to divest from Dakota Access Pipeline https://t.co/izimUT5wTE
— The Independent (@Independent) March 18, 2017
This display of unity is sure to inspire hope in a time when we truly need it. Although the ETP is determined to go through with this project, perhaps we can be even more determined to stop them. The fight to protect the earth from the fossil fuel industry has been a long and arduous one, and it’s far from over.