<p><a href="http://dailywire.com/topic/kentucky" target="_blank" rel="noopener">Kentucky</a> State Treasurer Allison Ball published a list of <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">financial institutions</a> currently boycotting energy companies and required that agencies in the commonwealth divest from the firms.</p>
<p>The move is the latest effort among conservative states to distance themselves from companies involved in the environmental, social, and corporate governance movement, also known as <a href="http://dailywire.com/topic/esg" target="_blank" rel="noopener">ESG</a>, over concerns that the approach mingles profits with social and political causes. Ball named 11 asset management companies and investment banks, including <a href="http://dailywire.com/topic/blackrock" target="_blank" rel="noopener">BlackRock</a> and <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, as “Restricted Financial Institutions” in a notice seen by The Daily Wire.</p>
<p>“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” Ball commented in a <a href="https://www.kentucky.gov/Pages/Activity-stream.aspx?n=KentuckyStateTreasurer&amp;prId=101" target="_blank" rel="noopener">press release</a>. “Traditional energy sources fuel our Kentucky economy, provide much needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few.”</p>
<p>State government entities must notify Ball of any holdings in the companies within 30 days of the notice. Identified companies must cease boycotting energy producers within 90 days in order to avoid divestment. The other firms named by Ball include Citigroup, Climate First Bank, Danske Bank, HSBC, Nordea Bank, Schroders, Svenska Handelsbanken, and Swedbank.</p>
<p>The notice from Ball occurs more than two months after she <a href="https://www.dailywire.com/news/kentucky-officials-make-move-to-purge-woke-investing-from-the-state" target="_blank" rel="noopener">authored a letter</a> alongside Kentucky Attorney General Daniel Cameron asking the commonwealth’s public pension systems to advise their offices about “efforts to ensure that ESG considerations are not being implemented in your systems’ investment decisions.”</p>
<p>Kentucky ranks seventh in the nation for coal production, according to <a href="https://www.eia.gov/state/analysis.php?sid=KY" target="_blank" rel="noopener">data</a> from the Department of Energy, and low electricity prices have helped attract manufacturing to the commonwealth. Beverage waste from the state’s distilleries is often used in ethanol production.</p>
<p>Several banks and asset managers have participated in alliances under which executives push portfolio companies to nix carbon emissions. BlackRock has taken “voting action on climate issues” against dozens of portfolio companies, according to a stewardship <a href="https://www.blackrock.com/corporate/literature/publication/our-commitment-to-sustainability-full-report.pdf" target="_blank" rel="noopener">report</a> published two years ago; the company is a <a href="https://www.dailywire.com/news/blackrock-executive-grilled-by-texas-lawmakers-over-esg-and-climate-agendas" target="_blank" rel="noopener">member</a> of Climate Action 100+ and similar associations.</p>
<p>State officials recently called on the Federal Energy Regulatory Commission to prohibit Vanguard, another prominent asset management company, from purchasing shares in publicly traded utilities out of a concern that the firm’s climate activism will raise prices and decrease energy reliability. Vanguard subsequently <a href="https://www.dailywire.com/news/vanguard-drops-out-of-climate-initiative-as-reaction-against-woke-investing-continues" target="_blank" rel="noopener">ceased participation</a> in the Net Zero Asset Managers initiative, under which companies <a href="https://www.netzeroassetmanagers.org/" target="_blank" rel="noopener">commit</a> to seek “net zero greenhouse gas emissions by 2050 or sooner” using investment funds.</p>
<p>Republican state officials <a href="https://www.dailywire.com/news/states-have-pulled-nearly-12-billion-from-blackrock-this-year" target="_blank" rel="noopener">pulled</a> some $12 billion from BlackRock last year, representing a small fraction of the nearly $8 trillion <a href="https://s24.q4cdn.com/856567660/files/doc_financials/2022/Q3/BLK-3Q22-Earnings-Release.pdf" target="_blank" rel="noopener">managed</a> by the company as broader market forces react against the ESG movement. Officials have expressed concern that the ESG movement presents difficulties to energy companies seeking to obtain capital.</p>
<p>“Treasurer Ball takes another bold step today in defense of her state’s financial future by putting banks on notice that boycotts of American energy won’t be tolerated,” State Financial Officers’ Foundation CEO Derek Kreifels remarked in a statement provided to The Daily Wire. “She and other state financial officers across the country are leading the movement to ensure that money earned by hardworking American families is used in accordance with their values, not weaponized against them.”</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Kentucky Treasurer Sanctions BlackRock And Other Companies Engaged In ‘Ideological’ Boycotts Against Energy Sector

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Banks

BlackRock

Economy

JP Morgan

Kentucky

U.S.

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Kentucky Treasurer Sanctions BlackRock And Other Companies Engaged In ‘Ideological’ Boycotts Against Energy Sector