West Virginia Treasurer Riley Moore Drops BlackRock Over Woke Capitalism

[Kamaji]

West Virginia Treasurer Riley Moore Drops BlackRock Over Woke Capitalism

By:  Tristan Justice
January 18, 2022

West Virginia Republican Treasurer Riley Moore announced Monday the state’s Board of Treasury Investments would no longer be working with BlackRock for banking transactions over the investment firm’s animosity towards fossil fuels and friendliness with Communist China.

“As the state’s chief financial officer and chairman of the Board of Treasury Investments, I have a duty to ensure that taxpayer dollars are managed in a responsible, financially sound fashion which reflects the best interests of our state and country, and I believe doing business with BlackRock runs contrary to that duty,” Moore said in a press release.

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Source:  https://thefederalist.com/2022/01/18/west-virginia-treasurer-riley-moore-drops-blackrock-over-woke-capitalism/

[mountaineer]

Riley Moore
@RileyMooreWV
Today I announced my office will no longer use BlackRock, Inc. investment fund for banking transactions. Any company that thinks Communist China is a better investment than WV energy or American capitalism clearly does not have the best intentions for WV.
4:53 PM · Jan 17, 2022

[Kamaji]

Good for West by God Virgina!

[mountaineer]

Riley is the nephew of U.S. Sen. Shelley Moore Capito and seems to be more conservative than she (who frequently deserves the RINO moniker laid on her).

[IsailedawayfromFR]

I never have nor ever will buy any Blackrock product.

The CEO is a rabid Globalist

[mountaineer]

UPDATE June 14
From Politico:

Wall Street firms face W.Va. boycott over alleged fossil fuel bias
State treasurer says six institutions are on list that will deny them access to state contracts
By Jordan Wolman
06/14/2022 09:56 AM EDT

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. POLITICO reviewed the letters following a public records request.

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. ...

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. ...

More

[mountaineer]

See also:

...   Senate Bill 262, passed during the 2022 legislative session, authorizes the State Treasurer’s Office to restrict banking contracts with any bank or investment group that refuses to deal with coal, oil, and natural gas companies or terminates contracts with existing fossil fuel companies as a way to punish companies who don’t fall in line with environmental, social, and governance (ESG) standards.

“Earlier this year our Office proposed, and the Legislature passed, Senate Bill 262 to push back against unfair discrimination against our coal, oil and natural gas industries by the financial sector as part of the so-called … ‘ESG’ investing movement,” said State Treasurer Riley Moore in a statement. “We’ve now demonstrated we are serious about enforcing this law.”

The six companies given notice were unidentified in the State Treasurer Office’s press release, but the office turned over the notices in a Freedom of Information Act request Monday afternoon. The companies are BlackRock Inc., the Goldman Sachs Group Inc., JPMorgan Chase and Co., Morgan Stanley, U.S. Bancorp, and Wells Fargo and Company.

The new law requires the State Treasurer’s Office to maintain a public list of restricted financial institutions. Any bank on the restricted list would be unable to enter into new financial contracts with the state or remain in current contracts until they are able to show they no longer engage in boycotts of energy companies.   ...

Parkersburg, WV, News and Sentinel

[IsailedawayfromFR]

I never invested in any product they have.  Way too woke and globalist.