OpenInvest has published a way for investors to pull any investments in companies, banks that are funding the pipeline. The young startup’s COO Joshua Levin designed and launched the feature just a few days after US President Trump’s executive order approving the Dakota pipeline.
An accompanying blogpost shows in graphic detail who the banking and funding institutions are and the share of contributions being made.
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“Assets are one of the most powerful ways you can shape the world,” Levin said. “We wanted to support people’s efforts to fight back.”
Open Invest writes, “Your money and investments powerfully impact the world. Wells Fargo, Bank of America, JPMorgan Chase and others are counting on you not caring to get away with profiting from the destruction of Native lands. It’s time to take responsibility and start fighting back.”
Following Trump’s executive order, the cities of Seattle, Washington and Davis voted to divest from Wells Fargo Bank, citing the bank’s involvement in funding the pipeline.
The City of Davis intends to move all city funds currently held in Wells Fargo accounts to another banking institution by the end of the year. City officials also pointed to the recent Wells Fargo scandal in which the bank opened unauthorized customer accounts.
In a letter, U.S. Rep. Jared Huffman (D-San Rafael) along with fellow members of the Senate and House Natural Resources Committees, told the President, “This blatant disregard for federal law and our country’s treaty and trust responsibilities to Native American tribes is unacceptable…We urge you to immediately reverse this decision and follow the appropriate procedures required for tribal consultation, environmental law, and due process.”
