Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2022-06-02 00:00:00
GFANZ must tighten the screw on fossil fuel expansion
2022-05-19 00:00:00
BNP Paribas and Société Générale: stop financing climate destruction and human rights abuses
2022-05-04 00:00:00
Barclays is big on beef and burning
2022-05-04 00:00:00
Standard Chartered’s 2022 AGM dominated by shareholder alarm over fossil financing
2022-05-20 15:14:47
Seven financiers abandon TotalEnergies' EACOP pipeline in a week
2021-12-16 13:33:02
Cambo oil field "paused" following pressure on Shell & banks
2021-12-16 13:04:42
Equator Principles improve transparency after BankTrack shows the way
2021-11-02 11:03:26
ANZ launches human rights grievance mechanism in a first for the global banking sector
Connect
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
2022-03-08 00:00:00
BankTrack Annual Report 2021
2022-03-03 00:00:00
Locked out of a Just Transition: fossil fuel financing in Africa
2021-12-14 00:00:00
Actions speak louder: Assessing bank responses to human rights violations
2021-10-26 00:00:00
Equator Compliant Climate Destruction: How banks finance fossil fuels under the Equator Principles
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Ignoring Public Opposition and Significant Risk, Morgan Stanley Fails to Rule Out Support for Arctic Refuge Destruction
Start
Banks

By: Gabby Brown, Sierra Club
2019-08-08
Washington D.C.

Contact:

Gabby Brown, gabby.brown@sierraclub.org


Share this page:

Morgan Stanley head office New York. Photo: BOg4rt via Flickr (CC-BY-SA 2.0)
Go to:
Start
Related Banks

In a new policy statement released today, Morgan Stanley made minor updates to its criteria for financing fossil fuel projects but failed to rule out funding for drilling in the Arctic National Wildlife Refuge.

Home to more than 200 species of wildlife, the coastal plain of the Arctic Refuge is one of the world’s last truly wild places. It is considered sacred to the Gwich’in Nation, who rely on the Porcupine caribou herd that migrates there for their food security and way of life. The Trump administration has pursued drilling on an accelerated schedule and plans to hold a lease sale in the coastal plain as soon as the end of this year. 

Earlier this week, Royal Bank of Scotland released updates to their own environmental policy explicitly ruling out support for the destruction of the Arctic Refuge, following similar commitments from other international banks including Barclays and National Australia Bank. Some of the world’s most significant institutional investors have also raised concernsabout the risks associated with Arctic Refuge drilling and urged companies and financial institutions not to invest there.

“Financial institutions around the world are recognizing the financial and reputational damage in store for any company involved in drilling in the Arctic Refuge, but Morgan Stanley has opted to leave themselves open to that backlash,” said Sierra Club Campaign Representative Ben Cushing. “Drilling in the Arctic Refuge would be a disaster for wildlife, the climate, and the human rights of the Gwich’in Nation, and any bank that supports this destructive activity will have the American public and major investors to answer to.” 

“It's disappointing that, despite hearing from the Gwich'in people about the existential threat drilling in the Arctic Refuge coastal plain poses to my people, Morgan Stanley refuses to commit not to fund the destruction of our sacred lands,” said Bernadette Demientieff, Executive Director of the Gwich'in Steering Committee. “Any bank that supports this destruction will have to answer to the Gwich’in and to the millions of Americans who stand with us. These are our homelands, and we will continue to stand against anyone who provides funding for the companies that would violate our human rights. We will not give up until this place is permanently protected.” 

Go to:
Start
Related Banks

Related banks

Morgan Stanley United States

active
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted