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

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

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  1. Odd, JP Morgan is the largest financer of the oil and gas industry. How are they boycotting the fossil fuel industry? https://www.ran.org/wp-content/uploads/2022/03/BOCC_2022_vSPREAD-1.pdf Maybe they aren’t investing enough in coal?

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