Call from 37 global NGOs for financial institutions to commit to not provide any financial support to South Texas fracked gas export projects

Thirty-seven global NGOs are calling on the Net-Zero Banking Alliance (NZBA) to stop financing fracked gas export projects in South Texas, arguing that the Texas LNG and Rio Grande LNG terminals are incompatible with the 1.5°C climate goal and violate Indigenous and environmental rights.

• The proposed Texas LNG and Rio Grande LNG terminals, along with the Rio Bravo Pipeline, would export 4.35 billion cubic feet of shale gas daily, which the authors state is "strictly irreconcilable with the goal of limiting global warming to 1.5°C".
• The Rio Grande Valley LNG terminals are estimated to produce annual climate damage equivalent to 35 million cars and 50 coal plants, accounting for energy-intensive shipping, liquefaction, and methane leakage.
• The projects threaten local biodiversity and ecosystems, covering 1,609 acres and paving over hundreds of acres of wetlands and "irreplaceable clay hills — called lomas". The infrastructure would impact the Bahia Grande and the Laguna Atascosa National Wildlife Refuge, endangering the ocelot.
• The projects violate the rights of the Carrizo Comecrudo Tribe of Texas (Esto’k Gna), as the Texas LNG site includes the Garcia Pasture sacred burial site and the tribe did not provide "Free, Prior and Informed Consent".
• The authors argue the projects are "Category A projects" under the Equator Principles due to high risk and appear non-compliant, noting that while BNP Paribas and Sumitomo Mitsui Financial Group withdrew, Société Générale and Macquarie Capital continue as financial advisors to Rio Grande LNG.

APA

Reclaim Finance (2023). Call from 37 global NGOs for financial institutions to commit to not provide any financial support to South Texas fracked gas export projects. https://reclaimfinance.org/site/wp-content/uploads/2023/03/Letter-to-the-NZBA-about-LNG-export-terminals-in-Texas-1.pdf

Chicago

Reclaim Finance. Call from 37 global NGOs for financial institutions to commit to not provide any financial support to South Texas fracked gas export projects. 2023. https://reclaimfinance.org/site/wp-content/uploads/2023/03/Letter-to-the-NZBA-about-LNG-export-terminals-in-Texas-1.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Call from 37 global NGOs for financial institutions to commit to not provide any financial support to South Texas fracked gas export projects |date=8 March 2023 |url=https://reclaimfinance.org/site/wp-content/uploads/2023/03/Letter-to-the-NZBA-about-LNG-export-terminals-in-Texas-1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2023call, author = {{Reclaim Finance}}, title = {{Call from 37 global NGOs for financial institutions to commit to not provide any financial support to South Texas fracked gas export projects}}, publisher = {Reclaim Finance}, year = {2023}, month = mar, url = {https://reclaimfinance.org/site/wp-content/uploads/2023/03/Letter-to-the-NZBA-about-LNG-export-terminals-in-Texas-1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }