New Jersey-based TD Bank was the subject of a “media stunt” Friday by opponents the Keystone XL pipeline.
The bank supposedly announced Friday morning it would sell its $1.6 billion stake in TransCanada’s proposed transcontinental pipeline while moving away from any investments in the extraction of Canada’s oil sands. (I admit. I fell for it, at first)
Enviromental group Tar Sands Blockade subsequently claimed credit for the fake press release, which quoted a bank executive who said the company wanted to be “as green as our logo.” The group also created a “parody website” meant to resemble the media room page on the bank’s website.
“Today’s media stunt was intended to hold TD Bank accountable for bankrolling the most ecologically devastating project on planet Earth. If TD Bank wants to be ‘as green as its logo,’ then it must immediately divest from tar sands exploitation and Keystone XL, which will have devastating climate impacts,” said Ron Seifert, a Tar Sands Blockade spokesperson.
Texas-based Tar Sands Blockade has been barred from continued protests along the pipeline route in Texas after TransCanada won an injunction against it and two other groups in January.
TD Bank, which bills itself as America’s Most Convenient Bank, is one of the 10 largest banks in the United States, serving nearly 8 million customers. It is a subsidiary of The Toronto-Dominion Bank of Toronto, one of North America’s top 10 financial services companies.