BREAKING: DESJARDINS SUSPENDS NEW PIPELINE INVESTMENTS

Montreal-based Desjardins Group, North America’s biggest association of credit unions, decided Friday to suspend new investments in energy pipelines, citing concerns about their environmental impact. The mega-investment house, one of more than two dozen institutions that have helped finance Kinder Morgan’s Trans Mountain pipeline expansion, “temporarily suspended lending for such projects and may make the..watch more..

decision permanent” in September, Reuters reports, citing company spokesperson Jacques Bouchard. “That would likely mean Desjardins would not help finance other major Canadian pipelines projects, including TransCanada Corporation’s Keystone XL and Energy East and Enbridge Inc.’s Line 3,” the news agency notes.

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