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Wells Fargo Says It Won’t Invest in Arctic Oil and Gas Drilling

HeadlineMar 04, 2020

Wells Fargo has ruled out investing in oil and gas drilling in the Arctic, making it the third major U.S. bank to withdraw support for fossil fuel projects in the ecologically delicate region. The Sierra Club on Tuesday hailed Wells Fargo’s pledge but warned the shift does not make improvements to the bank’s other oil and gas financing policies. This comes as the Trump administration is pushing forward with plans to open the Arctic National Wildlife Refuge to drilling.

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