DearColleague.us

Letter

Jared Huffman

From the office of:

Jared Huffman

Sending Office: Honorable Jared Huffman
Sent By:
Logan.Ferree@mail.house.gov

Tell the Big US Banks: Don’t Fund Drilling in the Arctic!

Endorsed: Alaska Wilderness Action, Sierra Club, Earthjustice, the Wilderness Society, WWF, NRDC, National Audubon Society, Defenders of Wildlife, League of Conservation Voters

Signers: Grijalva, Lowenthal, Haaland, Barragan, Moore,
Kennedy, McGovern
, Pressley, Bonamici, Khanna, Pocan, Hastings, Schakowsky, McNerney, Norton, Brownley, McCollum, Takano, Rouda, Andy Levin, Tonko, Napolitano, Panetta, Espaillat, Price, Correa,
Mike Levin

 

Dear Colleague:

We invite you to sign letters to the CEOs of JP Morgan Chase, Wells Fargo, Citi, Bank of America, and Morgan Stanley asking them to join Goldman Sachs in refusing to finance oil development in the Arctic National Wildlife Refuge.

The 19 million-acre Refuge is one of the wildest places left on the planet. It protects more abundant and diverse wildlife than any other conservation area in the five-nation circumpolar north. Roads, pipelines, gravel mines, airstrips, and other facilities
needed to support exploration and development on the coastal plain would fragment habitat, displace wildlife, dismiss Indigenous voices, and undermine the wilderness character of the Refuge.

 

Goldman Sachs and more than a dozen worldwide financial institutions recently announced that they would refuse to finance oil development in the Arctic National Wildlife Refuge. We urge you to add your name to letters asking key American institutions to
adopt new policies and lead the financial sector in ensuring that the Arctic Refuge is never developed.

 

If you have any questions or would like to co-sign the letter, please contact Logan Ferree in my office at
Logan.Ferree@mail.house.gov.

Thank you for your consideration. 

Jared Huffman 

Member of Congress

 

Dear Bank CEO,

 

We write today to urge [insert bank name] to join Goldman Sachs and more than a dozen worldwide financial institutions in refusing to finance any oil development in the Arctic National Wildlife Refuge. As the world rapidly shifts towards clean energy sources,
we are gravely concerned about the climate, financial, and reputational risks associated with pursuing a speculative fossil fuel source that will likely become uneconomical. It is both deeply unethical and unwise to permanently destroy lands vital to the culture
and existence of the Gwich’in people to pursue this high-risk gamble. The House of Representatives understands the importance of protecting the Arctic Refuge, which is why we approved legislation last year to protect this important landscape from destructive
oil and gas exploration. Now is the time for banks to do their part.

 

We applaud Goldman Sachs’ recent policy changes to decline any direct financing of onshore and offshore Arctic oil exploration and development. With Goldman’s policy as a catalyst, we urge [insert bank name] to adopt new policies and lead the financial sector
to ensure the Arctic Refuge is never developed. Indeed, you have an opportunity to be more expansive: to reject not just this specific oil drilling program but to prevent the financing of gas exploration, other drilling infrastructure, and to wind down the
industry’s participation in the ongoing operations of existing oil and gas projects in the region.

 

The 19 million-acre Arctic National Wildlife Refuge is one of the wildest places left on the planet. Originally set aside by President Dwight Eisenhower in 1960, the Arctic Refuge protects more abundant and diverse wildlife than any other conservation area
in the five nation circumpolar north, including calving caribou, rare musk oxen, denning polar bears, and millions of migratory birds that nest or stage in the Refuge before traveling through every U.S. state and five continents. Roads, pipelines, gravel mines,
airstrips, and other facilities that would be developed to support exploration and development on the coastal plain would fragment habitat, displace wildlife, and undermine the wilderness character of the Refuge. Millions of gallons of fresh water needed to
support drilling activities could be drained from fragile Arctic rivers. And oil spills, which already occur on the North Slope, would harm fish and wildlife.

 

Any development in the coastal plain would permanently destroy this critically important intact ecosystem. We urge you to take a leadership role in recognizing that investing in a project that would threaten human rights and worsen the climate crisis is
an expensive risk that’s not worth taking.

 

Thank you for your consideration.

 

— Members of Congress —

Related Legislative Issues

Selected legislative information: Energy, Environment, Finance

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