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

Alex DeMarban

OIL & GAS

Anchorage Daily News

An Alaska agency is taking steps to remove about $24 million in investments issued by financial institutions that have said they won’t finance oil and gas projects in the Arctic.

The Alaska Industrial Development and Export Authority is eyeing a rule change that will prevent its fund managers from buying securities, such as bonds, from banks with policies that prohibit “engagement in oil and gas development” in the region, according to the proposed resolution.

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