U.S. stocks plummeted Wednesday morning after bank concerns reached European markets, while investors are warning that the banking situation could worsen after the closures of Silicon Valley Bank and Signature Bank over the weekend.
West Virginia Treasurer Riley Moore said on Wednesday the West Virginia Board of Treasury Investments (WVBTI) outperformed the funds run by BlackRock and other firms blacklisted from doing business with the state the last year for boycotting the fossil fuel industry.
After Ohio Republican Governor Mike DeWine requested federal assistance for disaster relief, the Federal Emergency Management Agency (FEMA) said, "Ohio is not eligible for assistance at this time," according to a statement from the governor's office.
Oklahoma Treasurer Todd Russ warned investment companies that they would lose access to state funds in two months if they fail to prove they are not involved in the environmental, social, and corporate governance movement, also known as ESG.
Resistance to environmental, social, and corporate governance investing is taking center stage in a number of Republican-leaning state legislative sessions this year.
“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” Treasurer Ball said. “Traditional energy sources fuel our Kentucky economy, provide much needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few.”
Several Republican states removed almost $4.5 billion dollars from BlackRock due to the company's adherence to environmental, social, and corporate governance (ESG) policies.
School boards and the NBA have joined an annual top 10 list of “worst of the woke” institutions that displayed intolerance in the name of tolerance the past year.
