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West Virginia Treasurer Riley Moore last week barred five banks from contracting with the state because of their policies against financing fossil fuel projects. Moore told Breitbart News on Wednesday that Bank of America — initially considered for inclusion on the list of restricted financial institutions — has now changed its policy.

“The most important thing about the Restricted Financial Institutions list was getting Bank of America to lift the ban on loans to fossil fuel companies, which resulted in them not being included on the list. I applaud Bank of America’s decision, and we should all do it. It’s right to reject loans outright. Distortion in the market.”

Moore predicts that West Virginia and other states will continue to use state bank contracts as leverage to push financial institutions away from anti-energy lending policies.

“Texas will release their list in the near future, and Kentucky, Oklahoma and Tennessee will follow,” he said. “This is how we win. This is how we defeat ESG and neutralize the financial industry, away from the use of corrosive capitalism to advance the liberal agenda.”

Investors and financial institutions use environmental, social and governance (ESG) standards to guide the allocation of capital to non-financial purposes.While some ESG proponents tried Making a business case for these standards, critics debate They exist to favor corporate governance politically, often in favor of left-wing causes.

according to a memorandum From the Office of the State Treasurer, the banks that do enter the list of restricted financial institutions are BlackRock Corporation, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and FuGuo bank

One Press release Questions about BlackRock’s inclusion on the list point out that environmental concerns haven’t stopped the company from pumping billions of dollars into China:

The decision is based on recent Report BlackRock owns urge Companies adopt “net-zero” investment strategies that harm the coal, oil and gas industries, while Increase Investments in Chinese companies that undermine the national interest and damage West Virginia’s manufacturing base and job market.

“The way BlackRock and other big banks are behaving toward China exposes the true hypocrisy of the ESG movement. These companies cut off investment in U.S. energy producers in the name of protecting the planet, while pouring billions of dollars into China, which is currently building 55 new coal plants, world leader in pollution,” Moore told Breitbart News.

These companies are also trying to throw themselves into the social problems of conservative countries while turning a blind eye to China’s litany of human rights atrocities, including their blatant genocide of Muslim Uighurs,” Moore added. “This double standard shows that these globalists Elites are willing to weaken America while profiting from investments in the Chinese Communist regime, which is why states like West Virginia need to fight back to protect our values, economy, and American way of life. “

You can follow Michael Foster on Twitter at @realmfoster.





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