U.S. House Republicans expect to introduce bills later this week that would bar states from setting their own rules for self-driving cars and take other steps to remove obstacles to putting such vehicles on the road, a spokeswoman said.

The legislative action comes as major automakers are joining forces with auto suppliers and other groups to prod Congress into action.

Last month, a U.S. House of Representatives Energy and Commerce subcommittee held a hearing on a Republican draft package of 14 bills that would allow U.S. regulators to exempt up to 100,000 vehicles a year per manufacturer from federal motor vehicle safety rules that prevent the sale of self-driving vehicles without human controls.

Blair Ellis, a spokeswoman for the committee, said on Monday it was likely that legislation would be introduced this week and a formal hearing on the bills would occur next week.

Republican U.S. Representative Robert Latta said last month he hoped to win committee approval of a bipartisan legislative package by the end of July.

The draft measures would bar states from setting self-driving rules and prevent the National Highway Traffic Safety Administration from pre-approving self-driving car technologies.

Democrats say the NHTSA must play a more aggressive role in mandating self-driving car safety.

The Alliance of Automobile Manufacturers, a group representing General Motors Co, Volkswagen AG, Toyota Motor Corp and others, and the Association of Global Automakers, representing major foreign automakers including Honda Motor Co and Hyundai Motor Corp, are forming the Coalition for Future Mobility to press Congress to act.

The group, which includes the Motor & Equipment Manufacturers Association, National Federation of the Blind and Securing America’s Future Energy, a group of corporate officials and retired military leaders, plans to begin airing radio ads on Tuesday portraying the legislation as “liberating innovation for self-driving vehicles.”

GM, Alphabet Inc., Tesla Inc., and others have been lobbying Congress to pre-empt rules under consideration in California and other states that could limit self-driving vehicle deployment.

The administration of former Democratic President Barack Obama last year unveiled voluntary guidelines on self-driving cars. President Donald Trump’s transportation secretary, Elaine Chao, has said she plans to quickly update those.
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From: MeNeedIt

Russia has indicated a potential new legal salvo in its trade war with Ukraine and the European Union, telling the World Trade Organization that a trade deal between Kiev and Brussels breaks the rules by penalizing Russia.

Minutes of a June 29 meeting of the WTO’s committee on regional trade agreements, published on Tuesday, record Russia’s representative as saying the EU-Ukraine free trade agreement was “an exemplary case of a situation where a free trade area worsened trade conditions for other trading partners”.

That meant it was a breach of the WTO rules, which say that free trade areas should encourage trade between the signatories without raising new barriers with other countries, the Russian representative said.

Russia has launched six trade disputes within its first five years as a WTO member, all of them against Ukraine or the EU.

Its most recent complaint, in May this year, accused Ukraine of “a universe of restrictions, prohibitions, requirements and procedures” that discriminated against Russia.

Russia’s representative at the WTO committee on regional trade agreements said the post-Soviet Commonwealth of Independent States had harmonized trade legislation with Ukraine since the 1990s, and signed a treaty in 2011 on coordinating the removal of technical barriers to trade.

“To sum up, there were dozens of bilateral and multilateral agreements in the field of trade and investment that linked Ukraine with the CIS countries. Many of Ukraine’s commitments were inconsistent with its obligations under the EU-Ukraine Agreement,” the minutes of the meeting said.

Russia’s representative also said Ukraine’s 2015 law on the natural gas market required the operator of Ukraine’s gas pipelines to be a person with at least five years’ experience from the European Energy Community or the United States.

The Energy Community, which aims to extend the EU’s internal energy market to the Balkans and Black Sea region, excludes Russia.

The Russian representative at the WTO meeting asked how excluding pipeline experts from other countries could be justified and how it could correspond with the WTO rules that say free trade agreements should not diminish other countries’ rights.

She also said that Russia’s share in Ukrainian imports had fallen significantly since Ukraine began implementing its Association Agreement with the EU, while the EU’s share had grown.

The chairman of the WTO committee invited follow-up written questions, which Ukraine and the EU were asked to respond to by July 20.
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From: MeNeedIt

A federal appeals court on Monday revived a lawsuit seeking to force a Madrid museum to return an Impressionist masterpiece to the family of a Jewish woman who was compelled to sell it to a Nazi art appraiser for $360 in 1939 so she could flee Germany.

The 9th U.S. Circuit Court of Appeals said two of Lilly Cassirer’s great-grandchildren may sue the Thyssen-Bornemisza Museum for the return of Camille Pissarro’s 1897 depiction of a Paris street scene, “Rue Saint-Honoree, Apres-midi, Effet de Pluie.”

Monday’s decision revived a 16-year legal battle that began after the Cassirers learned that the Pissarro, whose value may exceed $40 million, was on display in the Madrid museum, its home since 1992.

Applying Spanish law, the appeals court said it was an open question whether the museum knew the painting was stolen when it acquired it in 1993 in a $338 million purchase of Baron Hans Heinrich Thyssen-Bornemisza’s art collection.

It said that price was well below the collection’s estimated $1 billion to $2 billion value, and the baron may have known he also got a bargain when he bought the Pissarro from a New York art dealer for $275,000 in 1976.

“The Cassirers have created a triable issue of fact whether [the Thyssen-Bornemisza Collection] knew the painting was stolen from Lilly when TBC purchased the painting from the Baron,” Circuit Judge Carlos Bea wrote. “There is a triable issue of fact as to the Baron’s good faith.”

Bea also said Lilly Cassirer did not waive her ownership rights when Germany’s government paid her 120,000 marks for the loss of the painting in 1958, when its whereabouts were unknown.

The Pasadena, California-based appeals court returned the case to U.S. District Judge John Walter in Los Angeles, who dismissed the lawsuit in June 2015.

“We’re obviously very pleased,” said Stephen Zack, a Boies, Schiller & Flexner partner representing the Cassirers, in a phone interview. “This has been a scar they’ve had to deal with for generations.”

David Boies, a prominent U.S. lawyer, had argued the Cassirers’ appeal.

Thaddeus Stauber, a lawyer for the foundation that runs the museum, wrote in an email that the baron and the museum acquired the Pissarro in good faith.

“We remain confident that the foundation’s ownership of the painting will once again be confirmed,” Stauber said.

Both sides agreed that Lilly Cassirer’s sale of the Pissarro to Berlin art dealer Jackob Scheidwimmer amounted to a forcible taking. Pissarro’s works had been popular among European Jewish collectors.

The case is Cassirer v Thyssen-Bornemisza Collection Foundation, 9th U.S. Circuit Court of Appeals, Nos. 15-55550, 15-55977, 15-55951.
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From: MeNeedIt

A cholera outbreak in Yemen “continues to spiral out of control,” according to the International Committee of the Red Cross, which says there are now over 300,000 suspected cases of the water-borne disease.

The country is also struggling to battle famine in the midst of a two-year war between a Saudi-led coalition and Shiite rebels who control the capital city of Sana’a.

The World Food Program has reported that two-thirds of Yemen’s population does not know where their next meal will come from.

“Disturbing. We’re at 300k+ suspected cases with ~7k new cases/day,” ICRC Regional Director Robert Mardini said in a tweet.

“More than 1,600 have died,” the ICRC tweeted.

Cholera is a highly contagious bacterial infection that can be spread through contaminated food and water. The disease thrives in impoverished areas like Yemen.

Although easily treatable, the disease is spreading in war-torn Yemen as less than half of all medical facilities have become useless.

According to the U.N’.s Humanitarian coordinator in Yemen, Jamie McGoldrick, most of the $1.1 billion in aid promised to Yemen has not been delivered yet, causing food security to become even more of a problem.

“Humanitarian Organizations have had to reprogram their resources away from malnutrition and reuse them to control the cholera outbreak,” he said in Sana’a last week. “We’re trying to do our best, but its very much beyond what we can cope with.”
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From: MeNeedIt

A giant Chinese red flag flutters on a pole where an American flag used to fly at a steel mill in this dusty industrial Serbian town. The company logos of U.S. Steel are faded on the huge chimneys stacks, replaced by those of a Chinese company.

When U.S. Steel sold its loss-making smelter in Serbia to the government for the symbolic sum of $1 in 2012, few here thought the ailing communist-era factory would ever be revived. Then came along a state-owned Chinese company.

Hebei Iron & Steel’s 46 million-euro ($52 million) purchase of the Steelworks Smederevo last year is part of China’s broader effort to project influence and gain an access point to the European market as other traditional powers, particularly the U.S. under President Donald Trump, retreat from the world stage.

The dynamic was laid bare at a world summit over the weekend, where Trump showed little interest in promoting free trade and was at odds with other countries on issues like climate change. China, meanwhile, was keen to promote itself as a champion of commerce and openness – even though in practice it falls far short of being one.

The Serbian plant is economically irrelevant in the short term to China, which abounds with steel production at home. But the deal saved 5,200 local jobs and gained Serbia’s political favor.

“It seems to me that everything China has been doing in the past several years in the field of its investments abroad also has a political background and connotation,” said Mijat Lakicevic, a Serbian political and economy analyst.

“China doesn’t really need the Serbian plant that produces practically nothing compared to the steel production in China,” he said. “So, I would describe this as placing a foot in the doorway in order to enter the market and the area where Russia and America are already present.”

The longer-term strategy for China is to open markets for its businesses as its home economy slows. The most high-profile effort in this direction is the ambitious $900 billion Belt and Road project, often referred to as the New Silk Road – a transport and trade corridor running from China to Germany, via Greek ports, the Balkans and Central Europe.

Annual investment by Chinese companies in Europe reached an all-time high of $18 billion in 2014, with annual inflows averaging $10 billion over the past four years, according to the Rhodium Group, a China investment monitor.

Beijing is encouraging its industries to diversify abroad in hopes of reducing China’s reliance on exports and its domestic market. That has also led to a string of acquisitions in chemicals, tourism, insurance, banking and other industries.

Steel producers have an extra incentive because Beijing is trying to shrink its bloated state-dominated industry at home. China’s production glut has led to a flood of low-priced exports, which has depressed global markets and cost jobs in the U.S. and Europe, raising political tensions. As China negotiates the issue with the U.S. and EU, its acquisition of the Serbian plant gets it some rare good headlines in which it is credited with saving, not destroying, jobs.

Chinese companies are also starting to make inroads into Eastern European construction and engineering markets, including plans to build a $2 billion high-speed rail line from the Serbian capital, Belgrade, to Budapest in neighboring Hungary.

And while the EU remains the Western Balkans’ largest trading partner, local governments have sometimes looked with favor to countries like China that are willing to invest large amounts without raising concerns about the region’s patchy record on human rights or media freedoms.

“Serbia has an important role in China’s global Belt and Road project and we want to capitalize on all its potential,” Serbian Construction Minister Zorana Mihajlovic said. “This project cannot be realized without developed infrastructure in the countries where it passes.”

She said that China has so far loaned some 5.5 billion euros ($6.3 billion) in Serbia for the construction of bridges, highways and railroads that it plans to use as transport routes for its goods into the heart of Europe.

Hungarian Prime Minister Viktor Orban, who has often been criticized by Western European leaders as being authoritarian, has often expressed his admiration for the economic achievements of countries like China. He wants to make Hungary the main hub for Chinese business and investments in Central and Eastern Europe.

“The old model for globalization has become obsolete,” Orban said in May in Beijing while taking part in a Belt and Road conference. “The engine room of the global economy is no longer in the West, but in the East.”

In Smederevo, the town of some 100,000 people where thousands make a living from the steel plant, there was praise for China.

Though salaries are about 25 percent below what they were under the U.S. company – roughly 750 euros ($855) compared with 1,000 euros ($1,140), mayor Jasna Avramovic said it was important that the jobs had returned in the first place.

“It’s been one year since the Chinese came to our town and a calmer atmosphere is visible,” Avramovic said. “There is no more uncertainty over what will happen with the plant. The salaries come on time.”
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From: MeNeedIt

China’s biggest shipping company, state-owned COSCO Shipping Holdings Co., is creating the world’s No. 3 container shipping giant by acquiring rival Orient Overseas (International) Ltd.

Shares in both companies surged Monday following the announcement of the $6.3 billion deal.

A wave of consolidation has created huge competitors in a global shipping industry that is struggling with sluggish trade and depressed prices.

On Monday, COSCO’s shares traded in Hong Kong jumped 4.7 percent while Orient Overseas’ shares soared 19.5 percent.

On its own, COSCO ranks No. 4 globally with 317 ships and 8.4 percent of container traffic, according to Alphaline, an industry database. Adding Orient Overseas would give it market share of 11.7 percent, moving it ahead of Marseilles, France-based CMA CGM Group.

The No. 1 shipper is Denmark’s AP Moeller-Maersk with 643 ships and 16.4 percent of container traffic.

Orient Overseas, with 103 ships, is controlled by the family of former Hong Kong Chief Executive Tung Chee-Hwa.

The transaction is subject to antitrust review by Chinese, European and U.S. authorities, according to a filing with the Hong Kong Stock Exchange.

The filing said COSCO will pay $10.07 per share (HK$78.67), a premium of 38 percent over Orient’s Friday share price on the Hong Kong Exchange. The total price tag for the deal will be $6.3 billion (HK$49.2 billion).

AP Moeller-Maersk acquired Hamburg Sud of Germany in December. CMA CGM bought Singapore-based Neptune Orient Lines last year.

Orient Overseas reported a loss of $219.2 million last year. It blamed a glut of capacity, slow growth and rising fuel prices as well as freight rates that sometimes dipped below those seen in 2009 during the financial crisis.
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From: MeNeedIt

A remote Iranian desert city, Ice Age-era caves in Germany and a stone wharf in Brazil built for arriving African slave ships are three new additions to UNESCO’s list of World Heritage sites.

The World Heritage Committee spent a week meeting in Kraków, Poland, to consider 34 significant historical and cultural sites to add to the list.

This year’s selections include the Iranian city of Yazd, which UNESCO describes as a “living testimony to the use of limited resources for survival in the desert.”

The city has managed to avoid so-called modernization that destroyed many similar Iranian towns, and has preserved its traditional homes, bazaars, mosques and synagogues.

Another site UNESCO added to the list is in the Swabian Jura in southern Germany, one of the areas in Europe where humans first arrived more than 40,000 years ago, during the last Ice Age. They settled in caves, first discovered in the 1860s, and where they created some of the oldest known figurative art.

The U.N. cultural organization said the ancient musical instruments and prehistoric carved figures of animals and humans found in the caves help shed light on the origins of human artistic development

UNESCO also placed the Valongo Wharf in central Rio de Janeiro on the World Heritage List. The stone wharves were built in the early 1800s for slave ships sailing from Africa to Brazil. UNESCO called the wharves “the most important physical trace of the arrival of African slaves on the American continent.”

UNESCO added the World Heritage designation to more than 22 sites during its weeklong meeting in Poland, including choices that were controversial.

They include the Hoh Xil area in the China’s Qinghai province, a traditionally Tibetan area. By designating this a World Heritage site, the International Camnpaign for Tibet, an advocacy group critical of China’s administration there, said UNESCO endorses the forced relocation of Tibetan nomads by Chinese authorities.

China has promised to preserve the traditions and cultural heritage of the Tibetan region.

UNESCO also designated the Old City and Tomb of the Patriarchs in Hebron as a Palestinian World Heritage Site, angering Israel.

The city is split between Israeli and Palestinian control with the Old City and tomb in the Israeli sector. The tomb is sacred to Jews, Muslims, and Christians. Israel accuses UNESCO of trying to hide Jewish ties to Hebron, while Palestinians contend Israel is seeking to undermine their history.

 
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From: MeNeedIt

The IOC has balked at helping Rio Olympic organizers pay a debt estimated at $35-40 million.

The executive board of the International Olympic Committee, meeting Sunday in Lausanne, Switzerland, said it had already contributed a “record” $1.53 billion to last year’s Olympics, and questioned giving more after meeting with organizing committee President Carlos Nuzman.

In a statement, the IOC said “more detailed information” was needed and said it “deferred any further consideration at this stage.” It added that it “has closed all its obligations with the organizing committee.”

Contractually, host cities and countries are obligated to pay Olympic debts.

In Rio’s case, if governments step in to help pay creditors, it is sure to anger police, teachers, and other public employees who are getting paid late – caught up in Brazil’s deepest recession in decades.

The IOC, trying to move on to future games including the Pyeongchang Winter Olympics in seven months, said in addition to record help for Rio, there had been “an exceptional effort to significant cost savings and additional financial undertakings by all the Olympic stakeholders, which amounted to hundreds of millions of dollars.”

The Rio Olympics opened just under a year ago and were plagued by organizational problems, spotty attendance, corruption scandals, and Brazil’s worst recession in decades. At the last minute, organizers needed millions in a government bailout to hold the Paralympic Games.

Some infrastructure built for the Olympics has found uses – a subway line, a renovated port, and high-speed bus lines. But sporting venues are mostly vacant, a $20 million Olympic golf course is struggling to find players, and fewer than 10 percent of the apartments in the 3,600-unit Athletes Village are reported to have found buyers.

Last month, an AP analysis – supported by city, state and federal data – put the cost of the Olympics at $13.1 billion, a mix of public and private money. However, the exact figure is likely larger and may never be known.
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From: MeNeedIt

Deploying poems, paintings and posters, opposition-minded artists in Venezuela are expanding their anti-government protests, offering a peaceful alternative to the violent political unrest costing at least 90 lives in three months.

“We don’t want to confront passers-by but to encourage reflection,” said Teresa Mulet, 46, a designer who joined a recent flash protest in a Caracas boulevard, lying with two dozen people as if dead before jumping up to deliver their message.

At the event, lasting just minutes, some shouted phrases lauding peaceful resistance, while others held letters of the alphabet drawn on cardboard which, when joined, spelled a line from a Venezuelan poem: “Those who kill in reality have not lived.”

Such surprise demonstrations are organized by a group of intellectuals and artistic creators – from historians to film directors – meeting discreetly since May, sometimes in bookshops, to design different strategies of protests to the traditional street marches.

The organizers break into small groups and appear suddenly at opposition marches or public spaces, including some areas dominated by government supporters, to leave messages that later go viral on social networks.

Near-daily opposition rallies have brought chaos to Venezuelan streets since April as protesters demand elections, solutions to an economic crisis and a suspension of leftist President Nicolas Maduro’s plan to rewrite the constitution.

Many have descended into battles between masked youths and security forces, with thousands of injuries and arrests on top of the fatalities. Maduro says the protesters are seeking a violent coup with U.S. encouragement.

Seeking to create arresting images, artists have sometimes turned to gargantuan projects.

In the Venezuelan capital Caracas’ largest slum, Petare, they recently unfurled a 25-meter- (82-foot-) wide poster made from 3,000 two bolivar currency notes – worth less than $1 at the street rate – to denounce roaring inflation and economic hardship.

Sometimes, peaceful protesters have been holding up signs, like “Ceasefire!” or “No To Violence!,” just meters (yards) from where young men hurl stones and Molotov cocktails against National Guard soldiers using tear gas and water cannons.

At times, the security forces have fired tear gas canisters directly at the peaceful art-themed protest gatherings.

In Barinas, the rural home state of Maduro’s predecessor and mentor Hugo Chavez, one painter depicted a pregnant mother with a baby inside her wearing a gas mask – in honor of Venezuela’s new generation of young protesters.

Oscar Olivares, a painter and friend of slain student protester Juan Pernalete, mixes the faces of victims with religious images in his protest-themed designs.

“All of us, with our gifts and talents, can build a better Venezuela,” said Olivares, some of whose images have been featured on the makeshift shields of young demonstrators. “I’m happy to know my art can provide hope and protection.”

The artists, some of whom draw inspiration from Spain’s anti-austerity protesters known as “Indignados” (“The Indignant Ones”), are convinced their methods will be more successful than violent protests.

“We’re trying to reflect what common people feel,” said Mariela Ramirez, 52, an architect.
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From: MeNeedIt

Invasive species are wreaking havoc in waters around the world — from Burmese pythons in the Florida Everglades, to Asian carp in the Mississippi River, to turtles native to the US on every continent except Antarctica. Faith Lapidus reports on efforts to control the reptile in Poland.
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From: MeNeedIt

In 28 years in India’s pharmaceuticals sector, Rajiv Desai has never been busier.

Most of the last six months on his desk calendar is marked green, indicating visits to the 12 plants of Lupin, India’s No. 2 drugmaker, where Desai is a senior quality control executive. Only one day is red — a day off.

That’s what is needed these days to satisfy the U.S. Food and Drug Administration that standards are being met.

“In this sector, you’re only as good as your last inspection,” Desai said in his office in suburban Mumbai.

Often dubbed “the pharmacy of the world,” India is home to the most FDA-approved plants outside of the United States and supplies about 40 percent of the $70 billion worth of generic drugs sold in the country.

Damaged reputation

But sanctions and bans have badly damaged India’s reputation and slowed growth in the $16 billion sector. Drug exports fell in the fiscal year ending in March 2017.

More than 40 plants have been banned by the FDA for issues ranging from data fraud to hygiene since India’s then-largest drugmaker Ranbaxy was pulled up for serious violations in 2008.

Drug companies have spent millions of dollars on training, new equipment and foreign consultants. Yet the Indian Pharmaceutical Alliance of the top 20 firms says its members still need at least five more years to get manufacturing standards and data reliability up to scratch.

The case of Lupin shows why.

In the next few months, the FDA is expected to clear Lupin’s Goa plant of problems found in 2015, Desai said.

However, the agency also published a notice last week citing issues with data storage at its plant in Pithampur, central India.

If companies want to continue to sell into the world’s biggest health care market, they must keep constant vigilance.

Asked about Lupin’s case, the FDA said in a statement it did not “comment on compliance matters,” but said generally: “India’s regulatory infrastructure must keep pace to ensure that relevant quality and safety standards are met.”

Form 483

India has its own standards body, the Central Drug Standard Control Organization (CDSCO), which maintains that its quality controls are stringent enough to ensure drugs are safe.

The FDA has taken matters into its own hands and gradually expanded in India to more than a dozen full-time staff.

Inspections are frequent and increasingly unannounced. If the agency finds problems, it issues a Form 483, a notice outlining the violations, which if not resolved can lead to a warning letter and in worst case, a ban.

Violations range from hygiene, such as rat traps and dirty laboratories, to inadequate controls on systems that store data, leaving it open to tampering.

None of the violations the FDA has cited in India have explicitly said the drugs are unsafe, and when companies are banned by the FDA they can sell into other markets, including in the developing world, until the bans are lifted.

There are also no studies showing that the drugs have harmed anyone in the world. But by definition, the notices are issued when the FDA finds conditions that might harm public health.

​Don’t tell anyone

Industry watchers say Lupin, which specializes in oral contraceptives and drugs for diabetes and hypertension, is doing better than most. So far none of its infractions have extended to a ban.

On a recent visit by Reuters to its Goa plant, blue-uniformed employees could be seen working on giant machines, then making notes in hardbound registers. These are being phased out as Lupin transitions to more secure e-files.

Employees are often videotaped to ensure they follow standard operating procedure. Manufacturers have cut back to focus on quality over quantity: five years ago, Lupin was making 1 billion pills a month at one of its Goa plants. Now it makes 450 million.

Both the company and employees needed to be willing to acknowledge errors, Desai said. The first impulse in the past was often “don’t tell anyone,” he said.

“We’re humans after all, not robots. We make mistakes,” said Amol Kolatkar, a production head at the Goa site.

As recently as three years ago, training was a formality, Desai said. Now, when an error is traced to an employee, the entire team undergoes fresh training.

“I have worked at a pharma company before, but this is the first time I went through such a training,” said another Lupin quality control officer, who asked not to be named because he was not authorized to speak to the media.

The quality control role is key.

“They (Lupin) have had a practice where company quality heads report directly to Nilesh Gupta (the managing director),” said Amey Chalke, an analyst at HDFC Securities. “Some other companies have also started doing that now.”

The companies also have to be willing to spend big. Lachman, PwC and Boston Consulting conduct mock audits at the Goa plant every three to six months, at a cost of up to $400 an hour.

“These days the FDA is giving us 483 on small, small things,” a third quality control officer said. “So we are always auditing.”
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From: MeNeedIt

Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said Saturday, citing concerns about the impact such projects may have on the environment.

Desjardins, the largest association of credit unions in North America, Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman Jacques Bouchard told Reuters by telephone.

He said the lender would make a final decision in September.

Following ING

Desjardins, a backer of Kinder Morgan Canada Ltd’s high-profile expansion of its Trans Mountain pipeline, has been evaluating its policy for such lending for months, Bouchard said.

If it makes the decision permanent, that would likely mean Desjardins would not help finance other major Canadian pipelines projects, including TransCanada Corp’s Keystone XL and Energy East and Enbridge Inc’s Line 3.

Such a move would follow that of Dutch lender ING Groep NV, which has a long-standing policy of not funding projects directly related to oil sands, and is the latest sign that pipelines could have a harder time getting funding as banks face increasing pressure to back away.

Patrick Bonin, a campaigner with the environmental group Greenpeace, praised Desjardins for temporarily halting pipeline funding, but called on the lender to make it permanent and reconsider its C$145 million ($113 million) commitment to Trans Mountain.

Indigenous, environmental groups

Desjardins is among 24 financial institutions that agreed to lend money to a subsidiary of Kinder Morgan Canada, majority owned by Kinder Morgan Inc of Houston, according to regulatory filings.

A coalition of more than 20 indigenous and environmental groups, including Greenpeace, in June called on 28 major banks to pull funding for Trans Mountain, citing the risk of pipeline spills and their potential contribution to climate change.

ING, which was targeted by the coalition, said it will not fund any of the major Canadian pipelines.

The same month, Sweden’s largest national pension fund, AP7, sold investments in six companies that it says violate the Paris climate agreement, including TransCanada, in a decision environmentalists believe is the first of its kind.
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From: MeNeedIt