Vancity Enbridge Funds: Credit Union Divests Energy Giant Holdings

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VANCITY ENBRIDGE FUNDS
Oil sheen is shown in the Kalamazoo River in Battle Creek, Mich., from a ruptured pipeline, owned by Enbridge on July 29, 2010. (Paul Sancya, AP) | AP

Vancity is dumping Enbridge holdings because they fall beneath its standard of a socially responsible investment, announced the credit union.

Vancity Investment Management revealed Wednesday that it's dumping Enbridge holdings in the IA Clarington Inhance SRI funds that it manages.

According to the Vancity, the funds are supposed to prioritize investment in Canadian companies that are profitable, have a record of sustainable practices and are socially responsible.

Vancity made its decision due to a report by the U.S. National Transportation Safety Board on Enbridge's 2010 oil spill. At least 843,000 gallons of crude spilled into Michigan's Talmadge Creek, a tributary of the Kalamazoo River.

The report said that Enbridge responded to the spill like the "Keystone Kops."

Enbridge has not yet responded to a request from The Huffington Post B.C. for comment on Vancity's decision.

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