Most of Europe’s largest 50 banks have rejected EACOP oil pipeline

Last September, Uganda’s minister for hydrocarbons claimed that at least seven European banks have committed, in private, to financing TotalEnergies’ East African Crude Oil Pipeline project (EACOP) despite the extreme risk it poses to people and the environment. However, new engagement and policy analysis from BankTrack covering the 50 largest European banks shows a dwindling number of European bank candidates are prepared to finance the project.

The extent of the banking sector's rejection of TotalEnergies’s $5 billion EACOP project is unprecedented in the oil and gas industry. Click here for the full press release