Oakland Moves To Divest from Banks Violating Indigenous Sovereignty


 

Oakland Moves To Divest from Banks Violating Indigenous Sovereignty

While President Trump continues to impede progress towards battling climate change, the City of Oakland – Amazon Watch’s hometown – took an important step yesterday toward divesting city funds from banks that fund fossil fuels, violation of indigenous sovereignty, and mass incarceration.

In a unanimous vote, the City Council’s Finance and Management Committee adopted an amendment to the Linked Banking Services Ordinance that will require that any bank seeking to provide depository services to the City of Oakland disclose investments that support the Dakota Access Pipeline, violate indigenous sovereignty, or support mass incarceration. Currently, the city banks with JPMorgan Chase, one of the funders of the Dakota Access Pipeline. The full Council is set to vote on the ordinance at its next meeting, to take place sometime in the next two weeks.

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