Demand Bank of America not fund the Formosa Plastics project!

Formosa Plastics is trying to build a mega-polluting complex in St. James Parish, Louisiana to fuel its plastics production.

Formosa Plastic’s project would span 2,300 acres along the Mississippi River. The area is known as “Cancer Alley” due to the high chemical burden its majority-Black residents already face.

It would send tiny bits of plastic into local waterways, where birds, fish, and reptiles could mistake these pellets for food. It would contribute to the production of more plastics that will eventually end up in oceans around the globe.

Formosa Plastics is backed by Bank of America. If we can convince banks like Bank of America to not provide financing, we can deal a major blow to the project. Will you to join local communities in the fight to stop Formosa Plastics?

Comments

To: Bank of America

I write with concern about Formosa Plastics’ proposed Sunshine Project, which would be built in a predominantly Black district of St. James Parish. This massive petrochemicals complex would double toxic air emissions in the St. James Parish community, which is already overburdened with pollution.

If constructed, the project would also desecrate the graves of people who were enslaved on the sugar cane plantations that once operated on the site. The United Nations Office of the High Commissioner on Human Rights has condemned the project, calling it an egregious example of environmental racism.

We understand that Bank of America does business with Formosa, having helped underwrite 10-year bonds in 2015, and are concerned the company will again turn to your institution to raise financing for this multi-billion dollar project.

In light of Bank of America’s stated commitment to environmental responsibility and efforts to support racial equity, we call on you to end any and all business relationships you may have with Formosa Plastics Corporation and its affiliates, in particular Formosa Petrochemicals Corporation, Formosa Plastics Corporation, and FG LA LLC, which is building the Sunshine Project in St. James, Louisiana.

Specifically, we ask that you:
•	Publicly denounce environmental racism and the Sunshine Project
•	Publicly commit to not directly or indirectly finance the Sunshine project or related projects
•	Cease all underwriting and asset management activities for Formosa Plastics equities and debt
•	Sell and refrain from buying equities and debt issued by Formosa Plastics Corporation (TPE 1301) and Formosa Petrochemical Corporation (TPE 6505), Formosa Plastics Group, and other related Formosa affiliates

Thank you for your consideration.

Sincerely,
{user_data~First name} {user_data~Last name}
{user_data~City}, {user_data~State} {user_data~Postcode}

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