Bank of America said it would stop financing drilling in the Arctic Refuge. Now it’s backtracking.

In 2020, Bank of America committed to protect the Arctic National Wildlife Refuge in Alaska by adopting a policy not to finance oil and gas drilling in this special place. But now, the company is walking back its commitment, and the Arctic Refuge is in trouble.

Financing drilling in the Arctic is a bad investment for our planet. The Arctic Refuge is a pristine wildlife habitat for caribou, polar bears and billions of migratory birds. These animals need a refuge from human development — not an influx of drilling rigs.

The Arctic is too special to be drilled for oil

Bank of America acknowledges that the Arctic is a fragile ecosystem — that’s why it committed to not finance drilling in the Arctic National Wildlife Refuge four years ago.

So why would it do an about-face and consider financing the destruction of this special place? Especially when we know that drilling in the Arctic Refuge would put polar bears, caribou, golden eagles and more wildlife at risk.

We need to hold Bank of America accountable for reversing its commitment to its customers, its investors, and the wildlife of the Arctic Refuge. This change in tune won’t go unnoticed.

That’s why we’re telling Bank of America: Don’t finance drilling in the Arctic Refuge.

Bank of America must restore its policy not to finance drilling in the Arctic Refuge

Drilling is an expensive activity, which is why it was a great step forward to get six major banks, including Bank of America, to commit to stop financing drilling in the Arctic. 

You need money to drill, and without financing from big financial institutions, drilling’s outlook in the Arctic Refuge looked a lot worse.

But with Bank of America undoing its policy to not finance drilling in the Arctic, it could make it easier for drilling companies to bankroll their dirty projects. Instead of investing in the destruction of the Arctic Refuge, Bank of America should restore its policy to not finance drilling proposals in this precious habitat.

That’s why we’re raising the voice of everyone who cares about protecting the Arctic — including Bank of America’s own customers — and urging Bank of America to keep its promise to its customers, its investors, and the wildlife of the Arctic Refuge, and restore its policy to not finance drilling in the Arctic Refuge. 

If enough of us speak out, we can show this major bank that financing drilling in the Arctic is bad for business. Add your name to our message to Bank of America today.