West Virginia has barred five major financial institutions, including Blackrock Inc and JPMorgan Chase & Co (JPM.N) , from new state business after determining that they were boycotting the fossil fuel industry.Goldman Sachs (GS.N) , Morgan Stanley and Wells Fargo & Co are also barred on similar grounds, according to State Treasurer Riley Moore.Spokespeople for Wells Fargo and Morgan Stanley said the banks disagreed with the decision, and a spokesperson for JPMorgan called it “disconnected from the facts.” A BlackRock spokesperson said it also disagreed with the decision.

West Virginia bars five financial firms for deemed fossil fuel ‘boycotts’ | Reuters