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Deutsche Bank: Drop EACOP!

Deutsche Bank is funding the climate crisis by financing oil giants like Total and their destructive fossil fuel projects in Africa, Asia and Latin America. Total’s planned EACOP pipeline in Uganda and Tanzania will be the longest heated crude oil pipeline in the world, with devastating effects for tens of millions of people and for the climate.

Many major banks and insurers have already pulled out of this devastating project. We’re raising the pressure on Deutsche Bank, as one of the only major banks in Europe that has not yet withdrawn their support for EACOP. 

Tell Deutsche Bank to rule out funding for Total’s East African Crude Oil Pipeline and stop providing finance for fossil fuel expansion.

Massive new fossil fuel projects like this can’t go ahead without financial backing from banks, insurers and their wealthy investors - mostly based in Europe, North America and East Asia. Deutsche Bank is Europe’s fifth largest funder of fossil fuels and it is one of the only European banks still prepared to fund the EACOP pipeline. This has to change. 

Local organizers in Uganda and Tanzania have been fighting to halt the East Africa Crude Oil Pipeline and they are gaining support from people around the world. Ugandan activists recently visited Europe, meeting with thousands of fellow campaigners in Berlin and Paris, politicians, UN representatives, and even the Pope - who all offer their support for this campaign. We too can act in solidarity and support their struggle by making sure Total is cut off from finance and forced to stop fossil fuel expansion. 

As the impacts of the climate crisis, the pandemic, rising cost of living and energy prices, and other crises like the war in Ukraine start to hit hard, it’s clear that now more than ever, we need to shift rapidly away from a fossil fuel-dependent economy. Deutsche Bank needs to decide if they want to keep being part of the problem, or if they want to become part of the solution by investing in the transition to safer, cleaner and more affordable energy for all. They have an opportunity to do this by announcing at their upcoming AGM on May 19 that they will not provide finance for the EACOP pipeline and fossil fuel expansion. Until then, let’s make sure they hear our message. 

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