Bank of the West to Cut Ties with Energy Companies

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According to the website of a bank which serves Wyoming customers recently shared they will no longer serve or fund tobacco, fracking and arctic drilling.

On Bank of the West’s website it states:

“We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, promoting programs for sustainable energy, and withdrawing support from companies and business activities that are detrimental to our environment and our health.

As a long-term partner of the energy industry, we are proud to work with companies in oil, coal and gas that are actively involved in the energy transition and committed to building a more sustainable energy future.

To this end, Bank of the West has made the following decisions:
• We will no longer do business with companies whose main activity is exploring, producing, distributing, marketing or trading oil and gas from shale and/or tar sands. Click here to read the full group policy.
• We will never finance oil and gas exploration or production projects in the Arctic.
• We will no longer finance coal mines or coal-fired power plants that are not actively involved in the energy transition. Click here to read the full group policy.
• We will terminate all financing and investing activities relating to tobacco product manufacturers, as well as producers, wholesalers and traders whose revenue comes primarily from tobacco. Click here to read the full group policy.

As the bank for a changing world, we’re continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.”

There are more than 20 Bank of the West locations in Wyoming.

Join News 13 tonight for more.

Source

http://www.kcwy13.com/content/news/Western-Bank-Challenges-Western-Ways–490283241.html

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