West Virginia is the latest conservative state to begin to fight back against major corporations whose policies would damage the prosperity of the state.
This time the deep red state of West Virginia is fighting against some of the biggest corporations out there because of their "climate" policies which the state deems as anti-fossil fuel.
From Politico:
Six of the nation's biggest financial firms have been told that they will be denied access to state contracts in West Virginia as Republican leaders there continue their pushback on what they see as bias against the fossil fuel industry.
BlackRock Inc., Wells Fargo & Co., JP Morgan Chase & Co., Morgan Stanley, The Goldman Sachs Group Inc. and U.S. Bancorp are due to be placed on the West Virginia's Restricted Financial Institution List in 45 days, according to letters sent to the companies on Friday by state Treasurer Riley Moore, a Republican.
Placement on the list would leave the firms ineligible to enter into or remain in banking contracts with the state. They have 30 days to respond with information showing they're not boycotting the fossil fuel industry.
Moore acted under a state law passed this spring that he said is designed to "push back against unfair discrimination against our coal, oil and natural gas industries by the financial sector," Moore said.
West Virginia ranks No. 2 in coal production, No. 5 in natural gas production and No. 5 in total energy production, according to the Energy Information Administration.
The effort is part of a larger campaign being waged by red states to push back against ESG financing, with Republican leaders claiming that banks are choosing politics over sound lending practices by reducing their funding of fossil fuel projects to appease activist investors.
Blackrock, Vanguard, and these other corporations are all in on the ESG (Environmental, Social, and Governance) scoring system which requires them to get woke and have "green" policies which would destroy places like West Virginia.
These companies are not your friend!
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