For Immediate Release

Organization Profile: 
Contact: 

Yet Another Global Bank Rejects Arctic Refuge Drilling

Lloyds Bank, second largest in the UK, will not fund Arctic oil and gas operations.

WASHINGTON - This morning, Lloyds Bank, the second largest bank in the UK, released an updated energy policy that rules out financing for oil and gas operations in Arctic National Wildlife Refuge. The policy update adds Lloyds to the growing list of major financial institutions that are rejecting drilling in the Arctic region, including the Arctic Refuge, along with Goldman Sachs, Barclays, and more than a dozen global banks.

The Trump administration missed its goal of holding a lease sale to sell off the coastal plain of the Arctic Refuge by the end of 2019, but continues to push to hold one this year.

SCROLL TO CONTINUE WITH CONTENT

Never Miss a Beat.

Get our best delivered to your inbox.

In response, Sierra Club campaign representative Ben Cushing released the following statement: 

“The Trump administration hasn’t given up its push to auction off the Arctic Refuge, but a growing number of major financial institutions are sending a clear message that oil companies should think twice before bidding. Drilling in the Arctic Refuge would be a disaster for wildlife, the climate, and the human rights of the Gwich’in Nation, and any company associated with this destruction will suffer long-lasting damage to their reputation. Momentum is growing in the financial sector to reject this toxic investment, and Lloyds certainly won’t be the last major bank to do so.”

###

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

Please select a donation method:



The Sierra Club is the oldest and largest grassroots environmental organization in the United States. It was founded on May 28, 1892 in San Francisco, California by the well-known conservationist and preservationist John Muir, who became its first president. The Sierra Club has hundreds of thousands of members in chapters located throughout the US, and is affiliated with Sierra Club Canada.

Share This Article