Dear Council Members,
Thank you for your vote in passing Council Bill 118905, the socially responsible banking ordinance, out of committee. I am writing today to ask that you continue this bold leadership, by ensuring that this bill passes at Full Council on Monday — and that it does so with language around the Dakota Access Pipeline that is as rigorous as possible.
I support the socially responsible banking criteria in this legislation being made as strong as possible. It is vital that the City is able to conduct its business with banks that have values aligned with our own; this means we need to find a way to do our banking outside of the big banks.
Just like Wells Fargo, all of the big banks — from Bank of America to Chase, US Bank to Key Bank — invest dozens of billions of dollars every year in fossil fuel projects, such as the Dakota Access Pipeline, that harm our communities and are incompatible with the emissions reductions targets laid out in the Paris Agreement, as well as with the values of Seattle.
The City of Seattle should conduct its business with banks that have values aligned with ours, and lending practices that do not harm our communities and our shared climate.
I thank you for fighting for this on Monday.
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