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When you put your money in the bank it doesn’t just sit there. It goes out in the world and finances things.
By making thoughtful choices about what we choose and choose not to finance, we’re helping to accelerate important transitions in energy, employment equality, and social programs.
Today’s rapid climate change is creating an imperative for a different type of financial institution.
As part of a global bank with a diverse workforce and careful financing practices, Bank of the West is uniquely positioned to help solve some of our world’s greatest challenges.
In addition to helping address climate change through our strict financing policies, we’re also focusing on women entrepreneurs and social programs. With Bank of the West, you’ll know your bank is creating positive change in a world that demands it.
To this end, Bank of the West, as part of the BNP Paribas Group, has made the following decisions as part of our commitment to driving sustainable finance:
Bank of the West will not finance Arctic oil and gas exploration or production projects. Read our policy.
COAL-FIRED POWER PLANTS
In 2015, we instituted guidelines restricting the financing of coal-fired power plants that are not actively involved in the energy transition. Read our policy.
FRACKING, SHALE & TAR SANDS MINING
Bank of the West has exited financing for fracking, shale and tar sands mining. Read our policy.
We are terminating financing and investment activities related to tobacco. Because, while tobacco is bad for people, it’s worse for the environment and is the #1 source of micro-plastics found in wildlife. Read our policy.
IRRESPONSIBLE PALM OIL PRODUCTION
Palm oil provides a source of revenue and ensures subsistence for millions of people living in developing countries. However, operating these plantations can have a range of negative effects on local communities, climate change and ecosystems. Read more about our restrictive financing policy.
UNSUSTAINABLE WOOD PULP PRODUCTION
As the demand for paper-based products grows over the next decade, this development will have a major impact on our planet’s environment. Read more about our restrictive financing policy.
As you can see, at Bank of the West, we choose to support the global transition to a low-carbon, sustainable economy—and not just by what we are doing, but more importantly, by what we aren’t. Most of us go to banks to safeguard our money and by extension our future. Today, to care about the future, you’ve got to care about the environment. It’s that simple. Find out more about a bank account where your money has values, as well as value.
Banks today must become responsible members of their communities again, and that means understanding that banks must be less focused on the next quarter’s results and more on what’s right for our customers, right where they are. At Bank of the West, we are adjusting our business to the direction society is moving. From contributing to local causes in the towns we live in, to active involvement in international position-making, we are transforming the way we do business, on a global scale.
© 2019 Bank of the West
Member FDIC. Equal Housing Lender.
In South Dakota, Bank of the West operates under the name Bank of the West California