{"id":1794456,"date":"2023-01-04T07:18:37","date_gmt":"2023-01-04T12:18:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1794456"},"modified":"2023-01-04T07:18:57","modified_gmt":"2023-01-04T12:18:57","slug":"kentucky-gop-treasurer-threatens-11-banks-with-divestment-for-boycotting-fossil-fuels","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kentucky-gop-treasurer-threatens-11-banks-with-divestment-for-boycotting-fossil-fuels\/","title":{"rendered":"Kentucky GOP Treasurer threatens 11 banks with divestment in protest of Boycotting Fossil Fuels"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkentucky-gop-treasurer-threatens-11-banks-with-divestment-for-boycotting-fossil-fuels%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1794456&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>Allison Ball, Kentucky Republican State Treasurer, put almost a dozen financial companies on notice that they could be subject to divestment because of their boycott of fossil fuels. <\/p>\n<p>On Tuesday Ball identified 11 financial institutions that will need to decide between managing taxpayer assets effectively or maintaining animosity toward American oil.<\/p>\n<p>\u201cWhen companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky\u2019s signature industries,\u201d Ball stated in a <a href=\"https:\/\/www.kentucky.gov\/Pages\/Activity-stream.aspx?n=KentuckyStateTreasurer&#038;prId=101\" target=\"_blank\" rel=\"noreferrer noopener\">press release<\/a>. \u201cTraditional 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.\u201d<\/p>\n<p>According to the treasurer\u2019s office, the energy sector is responsible for nearly 8 percent of state employment. The U.S. Energy Department <a href=\"https:\/\/www.eia.gov\/state\/?sid=KY#tabs-4\" target=\"_blank\" rel=\"noreferrer noopener\">reported <\/a>last summer that more than 70 percent of the state\u2019s electricity came from coal in 2021, giving Kentucky residents the 12th-lowest prices in the nation. <\/p>\n<p>Ball gave the state agencies thirty days to report any direct and indirect holdings in firms that were refusing to invest in fossil fuels. BlackRock, JPMorgan Chase, Citigroup and JPMorgan Chase are some of the companies listed. <\/p>\n<p>December: Riley Moore, West Virginia Treasurer <a href=\"https:\/\/thefederalist.com\/2022\/12\/16\/exclusive-west-virginia-treasurer-riley-moore-joins-calls-for-blackrock-ceo-larry-fink-to-resign\/\" target=\"_blank\" rel=\"noreferrer noopener\">called <\/a>on BlackRock CEO Larry Fink to resign over the firm\u2019s championing of anti-energy environmental, social, and governance (ESG) standards to the detriment of shareholders. After a record $10 trillion of assets, the Wall Street giant ended last year with $8 trillion. <\/p>\n<p>\u201cDoes that sound like a guy who\u2019s doing something right?\u201d Moore spoke exclusively with The Federalist. \u201cIf anything, it\u2019s a cautionary tale to focus on the maximization of your return for your beneficiaries and your shareholders.\u201d<\/p>\n<p>BlackRock however remains focused on ESG standards which demand total decarbonization as the norm on Wall Street. Fink wrote last year to CEOs. <a href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-ceo-letter?cid=ppc:blk:ll:na:ol:goog:na:v2:bhv:tl&#038;gclid=CjwKCAiAwc-dBhA7EiwAxPRylOnQKM7rGi2PUtmard3BRbD9QkMtjKwReGw5iaD-0KJifw5sJVZoZBoCsocQAvD_BwE&#038;gclsrc=aw.ds\" target=\"_blank\" rel=\"noreferrer noopener\">celebrated<\/a> A \u201ctectonic shift in capital\u201d toward BlackRock\u2019s commitment to net-zero carbon emissions as Americans pay record energy prices.<\/p>\n<p>Moore\u2019s call for Fink to step down followed North Carolina GOP Treasurer Dale Folwell\u2019s call for the BlackRock executive\u2019s exit the week prior. <\/p>\n<p>In January last year, Moore became the first state treasurer to take an axe to constituents\u2019 state-sponsored relationship with the Wall Street behemoth, <a href=\"https:\/\/thefederalist.com\/2022\/01\/18\/west-virginia-treasurer-riley-moore-drops-blackrock-over-woke-capitalism\/\" target=\"_blank\" rel=\"noreferrer noopener\">gutting<\/a> from BlackRock\u2019s management about $8 billion in funds from West Virginia\u2019s Board of Treasury Investments. <\/p>\n<p>The trend was adopted by Republican policymakers across the country. Arkansas, Utah and Texas now have chief financial officers. <a href=\"https:\/\/thefederalist.com\/2022\/12\/16\/exclusive-west-virginia-treasurer-riley-moore-joins-calls-for-blackrock-ceo-larry-fink-to-resign\/\" target=\"_blank\" rel=\"noreferrer noopener\">stripped <\/a>BlackRock<\/p>\n<p> Tristan Justice, The Federalist&#8217;s western correspondent, is Tristan Justice. He also wrote for The Washington Examiner as well as The Daily Signal. His work was also featured in Real Clear Politics, Fox News and Fox News. Tristan graduated from George Washington University, where he studied journalism and political science. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kentucky Republican State Treasurer Allison Ball put nearly a dozen financial firms on notice Tuesday over boycotts of fossil fuels.<\/p>\n","protected":false},"author":494,"featured_media":1794459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[8961,6472,5978,6919,13153,12013,6203,12830,4542,4622,6434],"class_list":["post-1794456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist","tag-banks","tag-boycotting","tag-divestment","tag-federalist","tag-fossil","tag-fuels","tag-gop","tag-kentucky","tag-protest","tag-threatens","tag-treasurer"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1794456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1794456"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1794456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1794459"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1794456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1794456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1794456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}