EDC loans up to $200 million to Coastal GasLink after hearing Wet’suwet’en speak about RCMP C-IRG violence

Published by Brent Patterson on July 25, 2024July 25, 2024

Photo: Wet’suwet’en Hereditary Chief Na’moks and land defender Eve Saint meet with EDC in Ottawa, October 16, 2023.

The National Observer reports: “Canada provided up to $200 million to pipeline company Coastal Gaslink, recently updated financial data reveals — an apparent violation of a commitment to phase out fossil fuel subsidies.”

“According to Export Development Canada (EDC), a Crown corporation that provides loans and grants to help businesses reach the market, Coastal Gaslink was given between $100 million and $200 million worth of project financing to help it export gas. The publicly-disclosed financing is thin on details, but was signed on June 27.”

The article continues: “In a statement, deputy spokesperson Caroline Thériault said the investment ‘does not contravene the government’s commitment to phase out inefficient fossil fuel subsidies.’ ‘Canada is committed to developing and releasing an implementation plan to phase out public financing of the fossil fuel sector, including by federal Crown corporations, by fall 2024,’ she said.”

This isn’t the first EDC loan to TC Energy/Coastal GasLink.

On May 4, 2020, the Toronto Star reported: “[Export Development Canada] will lend up to $500 million to build the Coastal GasLink, a natural gas pipeline that sparked a national protest movement and reckoning over the Liberal administration’s commitment to Indigenous reconciliation.”

On May 11, 2020, Le Devoir further reported: “EDC says it carried out ‘rigorous due diligence’ before granting the loan.”

RCMP C-IRG raids

By the time of that May 2020 loan, the RCMP Community-Industry Response Group (C-IRG) had already launched two full-scale militarized raids on Wet’suwet’en territory (in January 2019 and February 2020).

This most recent EDC loan comes after the November 18-19, 2021, RCMP C-IRG raid on Wet’suwet’en territory (that involved using a borrowed chainsaw to breakdown a door) and while a Civilian Review and Complaints Commission (CRCC) systemic investigation and abuse of process hearings are still underway.

Video.

It also follows the EDC meeting with Wet’suwet’en Hereditary Chief Na’moks and land defender Eve Saint on October 16, 2023, in Ottawa. Both Chief Na’moks and Saint were clear about the impact of Coastal GasLink on their territory and the violence of the RCMP C-IRG in enabling the construction of that pipeline.

That meeting was accompanied by York University Professor Anna Zalik, Above Ground and Peace Brigades International-Canada.

Just prior to that meeting in Ottawa, Wet’suwet’en and Otomi land defenders also marched in Toronto in opposition to TC Energy.

The National Post subsequently reported that TC Energy “launched a ‘geo-fenced’ ad campaign around the protest areas in Toronto and Ottawa to ensure it got its message out to both its financiers and media covering the events.”

Notably, the EDC-Coastal GasLink agreement for up to $200 million was signed on June 27, just weeks after the TC Energy annual meeting on June 4 in which shareholders voted against a resolution submitted by the Wet’suwet’en along with the Otomi, Nahua, Totonac, Nuntajɨɨyi’ and Tepehua peoples of Mexico. Their resolution asked that “TC Energy commission an independent assessment on its practices relating to obtaining Free, Prior and Informed Consent on its projects”.

Calgary-based TC Energy proposed the Coastal GasLink pipeline in June 2012 and began construction on it in January 2019. On May 25, 2020, TC Energy closed a deal selling 65% of the project to investment firm Kohlberg Kravis Roberts & Co (KKR) and Alberta Investment Management Corporation (AIMCo).

We continue to follow this with concern.