West Virginia blocked five major Wall Street banks Thursday from doing business with the state for pushing a green agenda, Environmental, Social and Governance (ESG).
Forty-five days after West Virginia State Treasurer Riley Moore warned U.S. Bancorp, Goldman Sachs, JP Morgan, Morgan Stanley, Wells Fargo and BlackRock that “boycotting” fossil fuels would find them banned from accessing state business, five of the six big banks were publically blocked, reported The New York Times.
Moore said that banning banks from investing West Virginia’s money aligns with the state’s priorities as the U.S.’s second-largest coal producer, according to a statement Moore posted on Twitter. (RELATED: ANALYSIS: The Massive Woke Company Selling Out Americans To China)
“As Treasurer, I have a duty to act in the best interests of the State’s Treasury and our people when choosing financial services for West Virginia. Any institution with policies aimed at weakening our energy industries, tax base and job market has a clear conflict of interest in handling taxpayer dollars,” Moore said.
Goldman Sachs, JP Morgan, Morgan Stanley, Wells Fargo and BlackRock support the climate change agenda, ESG, that pushes to integrate climate change policies that dramatically reduce carbon emissions.
The massive financial institution BlackRock’s CEO Larry Fink told clients in 2020 that the firm supports “the acceleration of the global energy transition” out of the coal industry because of its “environmental impacts.”
Goldman Sachs’ website said the company would stop investing in new coal industry products because it is “one of the largest sources of air pollutants, including greenhouse gas emissions, and has other significant environmental, health and safety impact on local communities.”
JP Morgan said in April 2022 that the firm’s 2021 ESG report highlighted its “efforts to help address critical global challenges like climate change” by becoming “the first large U.S. financial institution to set Paris-aligned 2030 emission intensity reduction targets in oil & gas, electric power and auto manufacturing sectors.”