Kentucky warns 11 companies of Alienation due to boycott of energy companies
2023.01.03 13:28
Kentucky warns 11 companies of Alienation due to boycott of energy companies
Budrigannews.com – On Tuesday, eleven significant financial institutions, including Citigroup Inc. (NYSE:), NYSE: JPMorgan Chase & Co. as well as BlackRock Inc. due to their “boycott” of energy companies, of possible divestment.
Companies on the list must be informed of any direct or indirect holdings by state government agencies to the Treasurer. Additionally, they must write to the companies to ask them to end the “boycott,” failing which, they may be divested, according to Kentucky State Treasurer Allison Ball (NYSE:). said.
Due to what they claim are the finance sector’s increasingly aggressive environmental, social, and governance (ESG) practices, Republicans have increased their pressure.
Other states, including West Virginia and Texas, have also boycotted a number of financial institutions over the past year.
JPMorgan Chase and Citigroup representatives declined to comment, while BlackRock cited Dalia Blass’s recent testimony in Texas as evidence.
In the declaration, Blass said BlackRock is a huge financial backer in numerous energy organizations like Exxon Mobil Corp (NYSE:) as well as Occidental Petroleum Corp.
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