West Virginia Treasurer Riley Moore on Thursday banned five Wall Street firms from state banking contracts over the financial giants’ advancing ESG climate activism to the detriment of West Virginians.
“While the ‘Environmental, Social and Governance’ or ‘ESG’ movement might be politically popular in California or in New York, financial institutions need to understand their practices are hurting people across West Virginia,” West Virginia Treasurer Riley Moore said in a statement on Thursday. “I simply cannot stand by and allow financial institutions working against West Virginia’s critical industries to profit off the very funds their policies attempt to diminish.”
ESG investing has become the latest avenue through which leftist politicians and Wall Street firms push corporations and states to adopt social and political positions they otherwise would not adopt. In this case, the ESG movement has moved to divest from the fossil fuel industry and toward the green industry.
Moore escalated the fight against giant financial companies’ attempt to damage the fossil fuel industry and instead redirect funds to the green energy.
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