The resolution, introduced by Supervisor Sandra Lee Fewer, is a preliminary step in getting the city to pull about $1.2 billion from companies that are helping to fund the $3.8 billion, 1,172-mile-long oil pipeline. The project has been fought in all four states that it runs through, most notably in Iowa and in North Dakota. In the latter, Indigenous Peoples and their allies camped for months along the Missouri and Cannonball rivers near the Standing Rock Sioux Reservation, slowing or halting construction in the face of intense backlash from militarized police.
Fewer told CBS SF News that the city has 14 percent of its portfolio invested with institutions that help finance the project, which is slated to transport up to 500,000 barrels of oil daily underground. Opposition has centered around indigenous treaty rights but has exploded into a human rights and environmental justice issue in the wake of violent tactics used by police against unarmed water protectors. The city has funds in more than 30 banks that finance pipeline builder Energy Transfer Partners, according to the San Francisco Chronicle. In November the city approved a resolution in support of the water protectors.