This summer, West Virginia State Treasurer Riley Moore published a list of five financial institutions that he has deemed ineligible for state banking contracts due to their environmental and social activism. The list includes Blackrock, Wells Fargo, JP Morgan Chase, Morgan Stanley, and Goldman Sachs. And North Carolina State Treasurer Dale Folwell said he supports
This year started off with a surge of enthusiasm among US proponents of increased climate-related financial risk disclosure by insurers and others: - Soon after the.
projects. one bank actually changed its policy to avoid getting barred. other states are taking similar action. west virginia state treasurer riley moore is leading the charge, instrumental in the strategy, and he joins me now. it s wonderful to see the real world changing as a result of policy, and you came up with this idea. now, they re paying real money. they re losing real money if they stick to their woke corporate policies and refuse to to fund fossil fuel projectings. blackrock, i m told, lost $700 million in lost contracts with you, louisiana and arkansas, is that right? that is right. and, david, thanks for having me on. finish you know, i asked the legislature for this authority, and they granted it to me this year. and, in essence, look, we re not going to hand over our tax dollars to be weaponized against us, right? so we had a clear conflict of interest where we generate a lot of money from the if fossil fuel
luckily, our senator here, senatorcap toe, was able to roll back some of those epa powers which would have essentially superceded the supreme court ruling. they are using every lever of power they can to destroy the fossil fuel if industry in this country, and i can mark my words, we will pay the price. we re to going to pay a price here as consumers if we continue down this path. go look at europe and what has happened to them where neff moved to renewables, and you see 20% renewable consumption in countries in europe. the utility rates have gone up 100% where they move to 37% renewables in a place like germany, three times is what they re paying for their electricity now in germany. the consumer pays the price. this is a tax on the working class and tax on all americans. david: riley, very quickly, we did reach out to all five banks. wet we got a statement from morgan stanley, one of those
now, if we shut our coal plants here, they will never be reopened again because of the policies that are many place and the green tax credits that are reaped by the utilities. once that s gone, it will never come back. david: treasurer riley moore, thank you for for coming here. best to the folks in west virginia. well, prices still going up, so why is the biden administration taken. the latest inflation numbers? talking up the latest inflation numbers? that s coming up. promises of all shapes and sizes. each, with a time and a place they ve been promised to be. a promise is everything to old dominion, because it means everything to you. [singing] oven roasted cooold cuts cooold cuts