Tell Wells Fargo to protect the Arctic Refuge and stop funding extreme fossil fuels

Drilling in the Arctic Refuge would threaten Indigenous rights, industrialize one of America’s last wild places, and accelerate the climate crisis. Fortunately, a growing number of banks and financial institutions are refusing to fund these extreme oil projects.

So why is Wells Fargo staying silent while increasing its investments in dirty fuels?

Drilling in the Refuge is opposed by the vast majority of Americans, but we know the Trump administration is only listening to their Big Oil buddies. That’s why we have to stop banks and investors from funding drilling projects that could wreck the Arctic Refuge.

Earlier this year, institutional investors with more than $2.5 trillion in assets sent a letter to oil companies and banks (including Wells Fargo) urging them not to invest in drilling in the Arctic Refuge. In addition, some of the world’s largest banks -- like HSBC, BNP Paribas, Societe Generale, and others -- have committed not to finance oil and gas development in the Arctic region.

Wells Fargo is investing heavily in a PR campaign to repair its image (you’ve probably seen the ads). The bank could actually earn some goodwill by pledging not to support drilling in the Arctic Refuge. But if Wells Fargo remains silent and continues pumping billions of dollars into extreme fossil fuels, it's image might never recover.

Take action: Tell Wells Fargo to take a stand against drilling in the Arctic Refuge and stop funding extreme fossil fuels!

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Take a stand against Arctic Refuge drilling and stop funding extreme fossil fuels

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To Wells Fargo CEO Tim Sloan:

I urge you to take a firm position against drilling in the Arctic National Wildlife Refuge. Wells Fargo can help protect the Arctic Refuge by warning oil and gas companies that development in this special place would pose unacceptable reputational and financial risks. Your bank is investing heavily in repairing its image -- but funding extreme fossil fuels is no way to regain the public’s goodwill.

The Arctic Refuge is sacred land for the Gwich’in Nation, who have lived in the region for thousands of years and are unanimous in their defense of it. Over 70% of Americans agree that the Arctic Refuge is no place to drill, and 675,000 people recently submitted public comments to the Trump administration opposing drilling in the area.

Drilling in the Arctic Refuge would have devastating human and ecological impacts, it would industrialize one of America’s last wild places, and it could eventually unleash climate emissions equivalent to 898 new coal plants. Any oil and gas company that tries to drill in the Refuge -- and by extension, any bank that finances their activities -- will undoubtedly face enormous public and investor backlash.

I also urge you to begin steadily reducing Wells Fargo’s financing of extreme fossil fuels such as tar sands, Arctic oil, and coal. I appreciate Wells Fargo’s public statement supporting climate action and the bank’s investments in clean energy, but it's clear that your own investments in the expansion of extreme fossil fuels directly undermine the goals of the Paris Agreement. As the world moves rapidly toward clean energy, it is irresponsible -- both morally and financially -- to double down on fossil fuels.

Several other major global banks have recently committed to ending their financing of various extreme fossil fuel sectors and the companies behind them -- proof that that Wells Fargo is running out of excuses for inaction. I urge you to take this opportunity for leadership and to help steer Wells Fargo to a fossil-free future.

To Wells Fargo CEO Tim Sloan: I urge you to take a firm position against drilling in the Arctic National Wildlife Refuge. Wells Fargo can help protect the Arctic Refuge by warning oil and gas companies that development in this special place would pose unacceptable reputational and financial risks. Your bank is investing heavily in repairing its image -- but funding extreme fossil fuels is no way to regain the public’s goodwill. The Arctic Refuge is sacred land for the Gwich’in Nation, who have lived in the region for thousands of years and are unanimous in their defense of it. Over 70% of Americans agree that the Arctic Refuge is no place to drill, and 675,000 people recently submitted public comments to the Trump administration opposing drilling in the area. Drilling in the Arctic Refuge would have devastating human and ecological impacts, it would industrialize one of America’s last wild places, and it could eventually unleash climate emissions equivalent to 898 new coal plants. Any oil and gas company that tries to drill in the Refuge -- and by extension, any bank that finances their activities -- will undoubtedly face enormous public and investor backlash. I also urge you to begin steadily reducing Wells Fargo’s financing of extreme fossil fuels such as tar sands, Arctic oil, and coal. I appreciate Wells Fargo’s public statement supporting climate action and the bank’s investments in clean energy, but it's clear that your own investments in the expansion of extreme fossil fuels directly undermine the goals of the Paris Agreement. As the world moves rapidly toward clean energy, it is irresponsible -- both morally and financially -- to double down on fossil fuels. Several other major global banks have recently committed to ending their financing of various extreme fossil fuel sectors and the companies behind them -- proof that that Wells Fargo is running out of excuses for inaction. I urge you to take this opportunity for leadership and to help steer Wells Fargo to a fossil-free future.

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