"Until the leases are canceled, they will remain a threat to one of the wildest places left in America."
While welcoming the win, activists vowed to continue fighting against destructive oil and gas extraction in the region.
“The irony of seeing the melting Arctic as a route to get more planet-heating carbon out of the ground is almost too deep and sad for words.”
As geoscientists who study the evolution of Earth’s climate and how it creates conditions for life, we see evolving conditions in the Arctic as an indicator of how climate change could transform the planet.
Citigroup now joins Goldman Sachs, JPMorgan Chase, and Wells Fargo, along with several global banks to end funding oil and gas exploration in the Arctic.
"Wells Fargo is committed to accelerating the transition to a low-carbon economy, in addition to continuing to support the responsible development of conventional energy."
“The fact that even the world’s worst fossil fuel banker wants nothing to do with Arctic Refuge drilling shows just how toxic an investment it would be."
The Arctic Refuge is one of the U.S.’s last wild places, and the coastal plain is its biological heart.