After Cutting Off BlackRock, West Virginia Plans More Anti-ESG Policies

Riley Moore is West Virginia's state treasurer. He made headlines recently after cutting off the world’s largest financial asset manager, BlackRock. West Virginia’s Board of Treasury Investments manages $8 billion in state operating funds. Moore broke off with Blackrock because of its commitment to investing in renewable energy over traditional energy sources, like coal and oil. Fossil fuels make up a big part of West Virginia's economy. But despite BlackRock’s apparent policy, it doesn’t seem to apply to China where it is still financing fossil fuel companies. Moore said any company that thinks communist China is a better investment than West Virginia energy or American capitalism does not have the best intentions for his state. “What if we don't want the same shape of society that BlackRock does? And I can assure you in West Virginia, we sure don't, and I think most people in this country don't want that either. And that is the scary thing about this. They are shaping policy in this country without any of us getting a single vote.”