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West Virginia Treasurer Moore leads coalition against Biden climate pressure on banks

By Steven Allen Adams, The Parkersburg News and Sentinel

CHARLESTON, W.Va. — West Virginia Treasurer Riley Moore and 14 treasurers across the nation are threatening to pull assets from banks that succumb to pressure from President Joe Biden and climate czar John Kerry to pull investments in fossil fuels.

Moore sent a letter Tuesday to Kerry, Biden’s special presidential envoy for climate, signed by the 15-member coalition raising concerns about White House pressure on banking and financial institutions to halt lending to the fossil fuel industry.

Moore accused Kerry of pushing for divestment that will force banks to discriminate against coal, oil and natural gas companies.

“As a collective, we strongly oppose command-and-control economic policies that attempt to bend the free market to the political will of government officials,” Moore wrote. “It is simply antithetical to our nation’s position as a democracy and a capitalist economy for the Executive Branch to bully corporations into curtailing legal activities.”

To read more: https://www.newsandsentinel.com/news/local-news/2021/05/west-virginia-treasurer-moore-leads-coalition-against-biden-climate-pressure-on-banks/

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