Seattle Moves Toward Divesting from Wells Fargo, Protesting DAP
The Seattle City Council took one more step toward the divestment of $3 billion of city funds from Wells Fargo this week as a protest against the Dakota Access pipeline. In a unanimous vote (8-0) on February 1, the Finance Committee voted in favor of legislation introduced by Council members Kshama Sawant and Tim Burgess.
Anti-pipeline activists held a victory rally outside City Hall following the vote.
According to a public statement by Kshama Sawant:
If Seattle divests from Wells Fargo, it will greatly fuel the inspiring nationwide struggle against the Dakota Access Pipeline and the oil lobby. I urge Council members to support this legislation ... as part of Seattle's fightback against Trump and the billionaire class.. . . .
Currently many environmental groups including the Sierra Club, Greenpeace and Rising Tide are opposed to President Trump's policy towards fossil fuels and the construction of new pipelines, including the Keystone XL and Dakota Access pipelines.