West Virginia blacklists four finance firms for boycotting fossil fuels, citing ESG factors

From Investing.com: 2024-04-08 15:12:12

West Virginia added four financial firms to a list of institutions that may be barred from state business for boycotting the fossil fuel industry. The state treasurer cited ESG factors in banking and business. The list now includes Citigroup, HSBC Holdings, TD Bank, and Northern Trust. The latter has $52 billion invested in traditional energy companies.

HSBC seeks to work with energy companies, not boycott them, while Citi declined to comment. TD Bank did not immediately respond. Financial firms face pressure from both Republican officials and environmental activists regarding ESG factors. The ongoing dispute highlights the growing importance of environmental considerations in the financial sector.



Read more at Investing.com: West Virginia treasurer adds four finance firms to ESG blacklist By Reuters