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West Virginia bans four more financial institutions over ESG policies
Posted on 4/10/24 at 11:07 am
Posted on 4/10/24 at 11:07 am
Now that's doing work!
West Virginia bans four more financial institutions over ESG policies
https://www.washingtonexaminer.com/policy/finance-and-economy/2957895/west-virginia-bans-four-financial-institutions-esg-policies/
West Virginia bans four more financial institutions over ESG policies
quote:
West Virginia is banning four more banks from state contracts over their ESG policies and “boycotts” of fossil fuel companies.
Riley Moore, the West Virginia state treasurer, made the announcement on Monday. The firms, which include Citibank, TD Bank, Northern Trust, and HSBC Holdings, had all been notified in February that their state contracts were at risk.
The state had already placed five firms on its restricted institutions list — BlackRock, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, and Wells Fargo. The first five firms on the list have lost access to some $18 billion in annual inflows and outflows.
“That’s certainly, I think, a tremendous loss for them,” Moore told the Washington Examiner during a Monday phone call after the latest four firms were added. “We really kicked off this coalition effort around this, so they are going to be other states looking at what we have done. And I would not be surprised in the future if you did see some of these institutions end up on other lists.”
https://www.washingtonexaminer.com/policy/finance-and-economy/2957895/west-virginia-bans-four-financial-institutions-esg-policies/
This post was edited on 4/10/24 at 11:08 am
Posted on 4/10/24 at 11:13 am to Auburn1968
good more states should fight back
Posted on 4/10/24 at 11:21 am to Auburn1968
quote:
BlackRock, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, and Wells Fargo
I wonder what the specific issue was with these four. I know for a fact they are all invested in O&G. I looked up Goldman and "Coal" and it seems they still provide financing.
Posted on 4/10/24 at 12:49 pm to Auburn1968
ESG was started due to government urging private business to do what it could not legally do.
It's good that government is also pushing back.
It's good that government is also pushing back.
Posted on 4/10/24 at 3:55 pm to Auburn1968
Looks like the financial secession has begun.
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