The Rio Grande Valley LNG is a massive, proposed LNG export terminal in Brownsville, Texas. If built, it would violate Indigenous rights, exacerbate environmental racism, destroy healthy wetlands, and add millions of tons of greenhouse gas to the atmosphere.
It’s such a bad idea that banks are starting to refuse to finance the project. The French bank, Société Générale, recently stepped back as the project’s main financial advisor. They are the eighth bank to publicly commit to not financing the project.
Unfortunately, the Japanese bank, MUFG, has stepped in and is now acting as the Rio Grande Valley’s primary financier.
Rio Grande LNG is vehemently opposed by the Carrizo Comecrudo Tribe. The proposed site for the export terminal is the Garcia Pasture, an ancestral burial site of the tribe that is listed as a historic site by the U.S. National Parks Service, and recognized by the World Monuments Fund as an endangered and irreplaceable site of cultural significance.
Not only that, but the construction of the terminal would destroy critical habitat for multiple endangered species, including the endangered ocelot, northern aplomado falcon, the Rice’s Whale, and Kemp’s Ridley sea turtle.
As the primary financial advisor for the company behind the project, MUFG is critically placed to decide whether or not this toxic project will move forward.
This week, we witnessed the two hottest days ever recorded. We need to make it clear to banks like MUFG that they cannot simply carry on financing new oil and gas projects, especially when those projects violate Indigenous rights and exacerbate environmental racism.
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