Financial institutions may have hoped for political recognition from the climate by blacklisting fossil fuels, but their boycotts have not been without cost to states and society. Now West Virginia is leading a movement of fossil fuel states to return disgrace.
Treasurer of the Mountain State Riley Moore said that on Thursday BlackRock, Wells Fargo, JPMorgan Chase, MorganStanley and Goldman Sachs could be excluded from new state bank contracts. State legislation enacted this year empowers the Treasurer to require financial institutions to certify that they are not “involved in a boycott of energy companies” in order to win a future banking contract.
https://www.wsj.com/articles/west-virginia-vs-progressive-banks-riley-moore-fossil-fuels-goldman-sachs-blackrock-11659014667 West Virginia vs. Political Banks