The West Virginia Department of Treasury banned Riley Moore last week from five banks from entering into government banking contracts because of policies it adopted against financing fossil fuel projects. Moore told Breitbart News on Wednesday that the US bank – which was originally considered to be listed as a restricted financial institution – has now reversed its policy.
The most important point in the list of restricted financial institutions was the US bank’s removal of its ban on lending to fossil fuel companies, as a result of which they were not listed. I applaud the Bank of the United States for their decision and so should we all. A categorical refusal to lend is a distortion of the market.”
Moore predicted that West Virginia and other states would continue to use government banking contracts as leverage to push 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 said. “This is how we win. This is how we defeat ESG and bring the financial sector back to neutrality and away from using destructive capitalism to advance the liberal agenda.”
Investors and financial institutions use environmental, social, and governance (ESG) standards to guide the allocation of capital toward non-financial ends. While some ESG supporters have try to To provide a feasibility study for these criteria, critics argue They exist to politically bias corporate governance, usually in favor of left-wing causes.
according to note From the State Treasurer’s Office, the banks that entered the list of restricted financial institutions are black rock company, Goldman Sachs Group Inc., JPMorgan Chase & Co. , Morgan Stanley, and Wells Fargo & Company
a press release Regarding BlackRock’s listing, he noted that environmental concerns have not discouraged the company from transferring billions of dollars to China:
The decision was made recently Reports Owned by BlackRock urge Companies have to adopt “net-zero” investment strategies that would harm the coal, oil and natural gas industries, while increasing Investments in Chinese companies that upset national interests and harm the manufacturing base and labor market in West Virginia.
“The way BlackRock and other big banks are behaving in relation to China reveals the true hypocrisy of the ESG movement. These companies are cutting capital off American energy producers in the name of protecting the planet while at the same time pouring billions of dollars of investment into China, which is currently building 55 plants. New coal-fired energy is leading the world in pollution,” Moore told Breitbart News.
“These companies are also trying to insert themselves into social issues in conservative countries, Moore added, while turning a blind eye to China’s string of human rights atrocities, including the blatant genocide of the Muslim Uyghur population. This double standard makes clear that these global elites are willing to weaken the United States while profiting from investments in a communist regime in China, which is why countries like West Virginia need to fight back to protect our values, our economy, and the American way of life. “
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