Rawlins latest city to examine ties to Bank of the West

RAWLINS (WNE) — Bank of the West could soon lose the Rawlins City Council’s support and funds, following the corporate decision to withdraw their own support from oil, gas and tobacco tied companies. 

City Council currently has an estimated $9 million at the local branch and next Tuesday plans to discuss moving the money. 

BW, which is affiliated with French Company BNP Paribas, released a statement on their website – http://www.bankofthewest/change – a few weeks ago, saying they want to invest in financially and support the industries that make the most impact in advancing diversity, entrepreneurship programs, small businesses and sustainable energy. 

The corporation said they will not finance Arctic oil and gas exploration or production projects, coal mines, and coal fire-powered power plants not actively involved in lowering emission rates.

The corporation further said it would no longer do business with companies whose main activity involves shale or tar sand mining. 

BW does plan to support power companies that generate less than 30 percent of their energy from coal-fired power plants. 

City Council Mayor Robert Grauberger originally proposed the Council discuss the topic last Tuesday during the Council’s workshop, and conformed Monday he still plans to propose the City moves its funds next week. 

“They took a stance against the industries that are the livelihood of the state of Wyoming, of Carbon County, of the city of Rawlins,” Grauberger said. “It doesn’t make good sense for the City to take public funds and help their bank grow or operate when they are doing their best to destroy the industries that are providing those public funds.” 

He added the local BW staff is not to be blamed for the decisions of the corporation and should be treated fairly.