Author Topic: U.S. Bank Has Reversed Its Anti-Energy Lending Policy — ‘This Is How We Win’  (Read 128 times)

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Offline IsailedawayfromFR

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West Virginia State Treasurer Riley Moore barred five banks last week from entering into state banking contracts due to policies they had adopted against financing fossil fuel projects. U.S. Bank — which was originally considered for inclusion on the Restricted Financial Institution List — has now reversed its policy, Moore told Breitbart News on Wednesday.

“The most important point of Restricted Financial Institutions List was having US Bank remove their prohibition on lending to fossil fuel companies, which led to them not being listed. I applaud US Bank in their decision and we all should. Categorical denials in lending are a distortion in the marketplace.”

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

“Texas will release their list in the near future, which will be followed by Kentucky, Oklahoma, and Tennessee,” he stated. “This is how we win. This is how we defeat ESG and bring the financial sector back to neutral and away from using corrosive capitalism to further the liberal agenda.”

Environmental, Social, and Governance (ESG) standards are used by investors and financial institutions to guide capital allocation toward non-financial ends. While some ESG proponents have attempted to make a business case for these standards, critics argue that they exist to bias corporate governance politically, usually in favor of left-wing causes.

According to a memorandum from the State Treasurer’s Office, the banks that did make it onto the Restricted Financial Institutions List are BlackRock Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Wells Fargo & Co.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Kamaji

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