BayernLB

16-Dec-2016

BayernLB supports review to ensure protection of international environmental and social standards in the construction of the Dakota Access Pipeline (DAPL)

BayernLB has been closely monitoring developments related to the pipeline route and, as a member of the syndicate financing the pipeline, it will use its influence wherever possible to reach an outcome that is satisfactory to all parties involved. Furthermore, the Bank continues to engage in a constructive dialogue with German and international environmental and human rights organisations.

BayernLB highly welcomes the retention of the independent law firm Foley Hoag LLP, a renowned human rights expert. The syndicate banks have retained Foley Hoag to review the permitting process for the pipeline so far, including compliance with applicable law concerning consultation with the Native Americans. The law firm will also once again review compliance with international social standards during the construction of this infrastructure project.

Following the review, Foley Hoag will develop recommendations for the project’s sponsors to rectify any deficiencies in fulfilling these standards, especially in terms of the treatment of indigenous peoples and cultural heritage.

Like all the other syndicate banks, BayernLB understands that the sponsors will review and consider all of the recommendations. BayernLB will actively support this process wherever possible.