Bank of the West’s environmental stand faces blowback

10Aug - by Editor - 0 - In STL.News



Bank of the West’s environmental stand faces blowback

Bank of the West’s decision to divest from certain fossil fuel investments has run headlong into threats of retaliation in states that get much of their revenue from coal, oil and natural gas extraction.

The San Francisco-based bank recently made it known that it would be “investing where we feel we can make the most impact” and withdrawing support for companies and business activities that are “detrimental to our environment and our health.”

That includes no longer doing business with companies whose main activity is tied to oil and gas from shale or tar sands.

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