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Alaska agency plans to halt investment in banks that don’t back Arctic oil and gas projects

Summary by Ground News
The Alaska Industrial Development and Export Authority is eyeing a rule change that will prevent its fund managers from buying securities from banks with policies that prohibit oil and gas development. The resolution is on the table for consideration at the agency's board meeting on Thursday. Bank of America, JPMorgan Chase, Morgan Stanley and Citigroup have said they would pull back from supporting new Arctic oil, gas projects.

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Anchorage Daily NewsAnchorage Daily News
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Alaska agency plans to halt investment in banks that don’t back Arctic oil and gas projects

The Alaska Industrial Development and Export Authority said about $24 million in securities issued by banks such as Bank of America can be sold and reinvested elsewhere.

·Anchorage, United States
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Alaska agency plans to halt investment in banks that don’t back Arctic projects

OIL & GASOIL & GASOIL & GASAnchorage Daily News An Alaska agency is ta

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Anchorage Daily News broke the news in Anchorage, United States on Saturday, January 22, 2022.
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