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Kaplan Proposes Stop Using Banks That Invest in Da...

Kaplan Proposes Stop Using Banks That Invest in Dakota Pipeline

Oakland Councilmember Rebecca Kaplan submitted a resolution proposing for Oakland to not do business with financial institutions that have direct investments in the Dakota Access Pipeline (DAPL), and to seek to do business with financial institutions that are committed to fair and responsible business practices.

Kaplan has been a leader in her support for divestment from DAPL, authoring both a resolution proclaiming the city’s support for the Standing Rock Sioux Tribe’s opposition to DAPL and a resolution urging the California Public Employee’s Retirement System (CalPERS) to divest from DAPL.

“The Dakota Access Pipeline threatens the land, the water, and the treaty rights of the indigenous people,” said Kaplan.

“One of the ways we can stand in solidarity and fight for our shared values is by where we put our money.  We should work to end funding financial institutions that are invested in DAPL, and fight for socially and environmentally responsible banking,” she said.

“Part of our work to do this includes our efforts to launch a public bank.  And, in the city’s upcoming contracting processes, we should make clear our policy that we don’t want to do business with those who disrespect our community, tribal rights, and our planet,” Kaplan continued.

The resolution is scheduled to be heard at the April 11 Finance Committee meeting at 9:30 a.m. in Hearing Room 1, Oakland City Hall.


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