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Crossville TN

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Red states fight back with all-out assault against woke banks: ‘We won’t do business with you’ August 5, 2022 Republican state officials don’t plan to just allow woke banks pushing climate change to destroy them and are readying an all-out assault to fight back against so-called environmental, social, and governance (ESG) standards. West Virginia is leading the way and announced last week that it would block five major financial institutions, including BlackRock, Goldman Sachs, Morgan Stanley, Wells Fargo, and JPMorgan from entering into banking contracts with the state treasurer’s office or any state agency. These companies have all instituted policies limiting commercial engagement with the fossil fuel industry. “We’re not going to pay for our own destruction, we’re not going to subsidize that,” West Virginia State Treasurer Riley Moore declared. “They have weaponized our tax dollars against the very people and industry that have generated them, to begin with. That is why we’re pushing back against this ESG movement.” ESG, or “stakeholder capitalism,” has been pushed by the World Economic Forum and billionaires such as Bill Gates. One of its biggest and most vocal advocates is BlackRock CEO Larry Fink (Lehman Brothers housing collapse 2008), who continues to double down on the concept of pushing large financial institutions to get on board. But some of them are pushing back.