Politics

15 States Threaten To Pull Assets From Big Banks Refuses To Finance Fossil Fuels

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A coalition of 15 Republican state treasurers is threatening to pull assets from financial institutions that “refuse to lend to or invest in” the coal industry and other fossil fuels.

The state treasurers, led by Riley Moore of coal-dependent West Virginia, sent a letter to special climate envoy John Kerry on Tuesday that criticized his efforts to pressure big banks and lenders to cut off fossil fuels, stating their opposition to the Biden administration’s “command and control” policies.

“We intend to put banks and financial institutions on notice of our position, as we urge them not to give in to pressure from the Biden administration to refuse to lend to or invest in coal, oil and natural gas companies,” the state treasurers wrote.

I’m proud to lead this fight! We will not sit by and allow woke capitalists to kill our jobs, economy, and future! This is un-American. https://t.co/rYb4mVoWZP

Kerry privately pressured big banks earlier this year to make their lending commitments and investment portfolios more climate-friendly, Politico reported. The Biden administration has faced scrutiny from Republican lawmakers over their efforts to pressure financial in… (Read more)

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