Posted on 07/28/2022 7:44:13 PM PDT by bitt
WASHINGTON, July 28 (Reuters) - West Virginia has barred five major financial institutions, including Blackrock Inc and JPMorgan Chase & Co (JPM.N) , from new state business after determining that they were boycotting the fossil fuel industry.
Goldman Sachs (GS.N) , Morgan Stanley and Wells Fargo & Co are also barred on similar grounds, according to State Treasurer Riley Moore.
Spokespeople for Wells Fargo and Morgan Stanley said the banks disagreed with the decision, and a spokesperson for JPMorgan called it "disconnected from the facts." A BlackRock spokesperson said it also disagreed with the decision.
"BlackRock does not boycott energy companies, and we do not pursue divestment from sectors and industries as a policy," the spokesperson said.
Goldman Sachs did not immediately comment.
The move to kick out some of the world's largest financial institutions, including the world's largest asset manager, Blackrock, comes as Republicans are ramping up pressure on Wall Street to step back from efforts to address climate change and tackle other social issues.
(Excerpt) Read more at reuters.com ...
P
They should have REVOKED their corporate charters and banned them from the State entirely
That’s a good start :-)
This is an AWESOME movement. DeSantis is also going after ESG companies in the same manner. He was discussing the red states getting together and combining their proxy votes as a block.
Good for West Virginia
they hit WV in the pocket book its no surprise wv will fight back.
The West Virginia traitors still elected Joe Manchin - they can never make up for that mistake
maybe while Durbin being sick and the vote must be held up, Manchin might get the “suggestion” that he REALLY SCREWED UP this week..
I wonder what ELSE was in his little compromise...
They should THROW OUT THAT PHONEY, ACTOR MANCHIN.
WHAT A DISGRACE HE IS.
Thinking about himself, his boat, his money and everything other his CONSTITUENTS.
What a creepy creep he is.
“Spokespeople for Wells Fargo and Morgan Stanley said the banks disagreed with the decision, and a spokesperson for JPMorgan called it “disconnected from the facts.” A BlackRock spokesperson said it also disagreed with the decision.”
Disagree all ya like, your stupid embrace of this ESG cvrap is ALL the justification ANYBODY needs to deem you fiducially irresponsible, and kick you to the curb.
Black rock isn’t embracing ESG, they’re the ones orchestrating it.
If WV was really serious and wanted to put it to Blackrock, demand that they divest any residential real estate holdings they may have in the state. When they buck up, bring them in for hearings as to why they’re buying up whatever they can through shell companies.
There is no such a thing as a fossil fuel
More states need to do this.
Bans on fossil fuel, gun companies etc etc?
Well then you are banned from our state. Let Florida, Texas and a bunch of other Southern and Midwestern states jump on board and it will get their attention REAL fast.
Ping to article. Clout matters.
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