West Virginia treasurer sends letter to financial institutions over ESG practices (2024)
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West Virginia Treasurer Riley Moore (R) sent a letter to six banks—including Citibank, TD Bank, and HSBC—warning that they may be ineligible for contracts with the state in 45 days unless they show that they do not illegally boycott fossil fuel companies:
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West Virginia is putting Citibank, TD Bank, HSBC and three other banks on notice that they could be barred from receiving state contracts as part of a continuing attack on environmental, social and governance policies. Details: State Treasurer Riley Moore wrote to the six companies informing them of his 'initial determination' that they are refusing or limiting their business with coal, oil and gas companies 'without a reasonable business purpose,' according to a copy of the letters shared with POLITICO. The banks will be placed on West Virginia's Restricted Financial Institution List in 45 days unless they show that they aren’t boycotting fossil fuels, Moore said. 'We are winning,' said Moore, who is also running for a U.S. House seat and leading a 15-state coalition combating ESG policies. 'I am not out here to defeat the banks. What I am here to do is to defeat ESG and liberate the free market.'[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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