Vancity has cut ties with Enbridge, citing a scathing U-S report on how the company handled a 2010 oil spill in Michigan.
The credit union says it has parted ways with the Calgary-based company which is trying to build the Northern Gateway Pipeline because it no longer meets its criteria for socially responsible investments.
An environmental group from Vancouver Island, Wildcoast.ca, had threatened to withdraw its mutual funds if Vancity did not cut ties.
Member Zoe Blunt commends the latest move, “I think that’s the only responsible course of action for any investor when it comes to Enbridge and any pipeline corporation right now. They should be on notice, right now.”
She encourages other banks and credit unions to do the same, and for their customers to put on the same pressure.
About The Reporter
