Joint press release with Divest Invest Protect and the Women's Earth and Climate Action Network (WECAN) International

SAN FRANCISCO BAY AREA, California— On June 25, a delegation of frontline leaders, attorneys, and advocates from Appalachia met with UBS Bank to highlight grievances and their urgent concerns of continued harms to communities and the environment due to the construction of the Mountain Valley Pipeline (MVP) in the Appalachian region of the United States.

On June 11, the Mountain Valley Pipeline was authorized to begin operations by the Federal Energy Regulatory Commission (FERC). Prior to the authorization, tests revealed that MVP had 130 potential problems requiring repair and analysis.

During the meeting with UBS, delegates provided testimony, data, and third-party reports on the multiple ways that the Mountain Valley Pipeline construction impacts communities, water, air and soil quality, and climate. The pipeline crosses over 75 miles of slopes with angles greater than 30%, and the company has been fined more than $2.6 million for erosion, sedimentation, and other concerns. Overall, the total cost of the pipeline is $7.85 billion, which is more than double the initial estimate of $3.5 billion. Additionally, experts state that MVP will emit over 89 million metric tons of greenhouse gas pollution annually, equivalent to the pollution from 24 average U.S. coal plants. According to Oil Change International,  “Mountain Valley pipeline will contribute significant amounts of greenhouse gases (GHGs) that lead to climate change.”

This is the second divestment delegation led by WECAN and DIP to meet with UBS regarding MVP. The first delegation met with UBS Bank in September 2023 to highlight allegations of human rights violations and environmental harms. The delegates are demanding the bank carry out standard human rights due diligence and take proper measures with MVP and the Southgate extension.