West Virginia Bans Four Banks Over Leftist ESG Policies

West Virginia’s stand against woke financial institutions using investor dollars to push a far-left agenda continues. State Treasurer Riley Moore in recent days added Citibank, TD Bank, Northern Trust and HSBC Holdings to the list of institutions that are no longer eligible for state contracts.

This action was based on the firms’ adherence to Environmental, Social and Governance (ESG) policies.

Each, according to Moore, actively participates in a scheme to boycott the fossil fuel industry. Critics charge that the push to eradicate traditional energy sources will cause great harm to the U.S. economy and investors whose funds are fueling the effort.

The latest four entries in the list of woke institutions joined such powerful firms as BlackRock, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley and Wells Fargo.

According to the Washington Examiner, these Wall Street giants are shut out of roughly $18 billion in transactions due to the restrictions. Moore told the outlet that her state’s actions created a “tremendous loss” to these politically motivated firms.

She expressed her desire to see other states implement such measures to protect their taxpayer dollars from being used for leftist causes their citizens do not agree with.

In a post on X, formerly Twitter, Moore declared, “We’ve offered woke financial institutions a choice: you can boycott fossil fuels, or you can do business with our state, but you can’t do both.”

The most recent action followed West Virginia enacting a law in 2022 permitting denial of business to these firms.

Moore told Fox Business that the state will unquestionably stand by its fossil fuel industry. “Last year, the world burned more coal than any time in human history. The consumption of coal is not going down.”

She said the shrinking of the fossil fuel industry is nothing but a myth “proliferated by the climate-activist left. So, why would we put ourselves in a position to not be part of that?”

Two other financial institutions came under scrutiny but were able to avoid being placed on West Virginia’s restricted list. BMO Bank and Fifth Third Bank successfully demonstrated that their investment protocols did not boycott the fossil fuel industry.

Previous articleBiden Prioritizes ‘Racial Equity’ In Latest Loan Forgiveness Announcement
Next articleAlleged CIA Contractor Claims FBI Involvement With Alex Jones, Jan. 6