Barclays says it will no longer make controversial energy investments, including in Arctic oil, according to the Arctic Today. The bank’s decision follows a previous warning to investors of the economic and public perception risks associated with certain types of energy investments.

Self-imposed restrictions on investment in fossil fuels will likely see Barclays, a U.K.-based bank, refuse to finance new oil and gas drilling in the Arctic, including in Alaska’s Arctic National Wildlife Refuge.

The policy, released Monday, will also apply to coal mining, oil-sands extraction and projects that affect indigenous groups.