Rawlins City Council plans to discuss moving funds from Bank of the West

RAWLINS — Bank of the West could soon lose Rawlins City Council’s support and funds, following the corporate decision to withdraw their own support from oil, gas and tobacco tied companies.

City Council currently has an estimated $9 million at the local branch and next Tuesday plans to discuss moving the money.

BW, which is affiliated with French Company BNP Paribas, released a statement on their website – www.bankofthewest/change – a few weeks ago, saying they want to invest in financially and support the industries that make the most impact in advancing diversity, entrepreneurship programs, small businesses and sustainable energy.

The corporation said they will not finance Arctic oil and gas exploration or production projects, coal mines, and coal fire-powered power plants not actively involved in lowering emission rates. The corporation further said it would no longer do business with companies whose main activity involves shale or tar sand mining.

Read more: https://www.rawlinstimes.com/news/local/city-council-plans-to-discuss-moving-funds-from-bank-of/article_6c11b5a8-d46c-5256-a50b-4facc43628c4.html