The deal by Sen. Joe Manchin(D-West Virginia) and fellow Democrats allowed for the passage of the Inflation Reduction Act, which provided the single biggest investment in combating climate change ever.
“By a wide margin, this legislation will be the greatest pro-climate legislation that has ever been passed by Congress,” Sen. Chuck Schumer (D-New York) stated.
But now, West Virginian State Treasurer Riley Moore (R) has blacklisted several major banks from doing business within the state for their climate activism. West Virginia remains one of the largest coal producing states in the union.
J.P. Morgan Chase, Blackrock, Wells Fargo and Goldman Sachs were among the institutions boycotted.
Moore stated that the state won’t allow banks that openly have “boycotts of fossil fuel companies.”
“As treasurer, I have a duty to act in the best interests of the State’s Treasury and our people when choosing financial services for West Virginia,” Moore stated.
“Any institution with policies aimed at weakening our energy industries, tax base and job market has a clear conflict of interest in handling taxpayer dollars,” he continued.
West Virginia is among the poorest states in the U.S. It often ranks in the bottom percentile in education performance and funding.
