{"id":541316,"date":"2021-05-26T12:05:39","date_gmt":"2021-05-26T16:05:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=541316"},"modified":"2021-05-26T12:05:41","modified_gmt":"2021-05-26T16:05:41","slug":"15-states-threaten-to-pull-assets-from-big-banks-that-cut-off-fossil-fuels","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/15-states-threaten-to-pull-assets-from-big-banks-that-cut-off-fossil-fuels\/","title":{"rendered":"15 States Threaten To Pull Assets From Big Banks That Cut Off 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%2F15-states-threaten-to-pull-assets-from-big-banks-that-cut-off-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=541316&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/05\/GettyImages-1230819381-scaled-e1614213957847.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>A coalition of 15 Republican state treasurers is threatening to pull assets from financial institutions that \u201crefuse to lend to or invest in\u201d the coal industry and other fossil fuels.<\/p>\n<p>The state treasurers, led by Riley Moore of coal-dependent West Virginia, <a href=\"https:\/\/www.wvtreasury.com\/Portals\/wvtreasury\/content\/Press%20Releases\/State%20Treasurers%20Letter%20to%20John%20Kerry%20on%20Fossil%20Fuel%20Lending%20w-%20signatures.pdf\">sent a letter<\/a> to special climate envoy John Kerry on Tuesday that criticized his efforts to pressure big banks and lenders to cut off fossil fuels, stating their opposition to the Biden administration\u2019s \u201ccommand and control\u201d policies.<\/p>\n<p>\u201cWe intend to put banks and financial institutions on notice of our position, as we urge them not to give in to pressure from the Biden administration to refuse to lend to or invest in coal, oil and natural gas companies,\u201d the state treasurers wrote.<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"9.2657657657658\">\n<p dir=\"ltr\" lang=\"en\">I\u2019m proud to lead this fight! We will not sit by and allow woke capitalists to kill our jobs, economy, and future! This is un-American. <a href=\"https:\/\/t.co\/rYb4mVoWZP\">https:\/\/t.co\/rYb4mVoWZP<\/a><\/p>\n<p>\u2014 State Treasurer Riley Moore (@RileyMooreWV) <a href=\"https:\/\/twitter.com\/RileyMooreWV\/status\/1397366237596983297?ref_src=twsrc%5Etfw\">May 26, 2021<\/a><\/p>\n<\/blockquote>\n<p>Kerry privately pressured big banks earlier this year to make their lending commitments and investment portfolios more climate-friendly, Politico <a href=\"https:\/\/www.politico.com\/news\/2021\/03\/12\/kerry-to-wall-street-put-your-money-behind-your-climate-pr-475565\">reported<\/a>. The Biden administration has <a href=\"https:\/\/www.banking.senate.gov\/newsroom\/minority\/toomey-gop-banking-members-demand-kerry-biden-administration-stop-trying-to-de-bank-energy-companies\">faced scrutiny<\/a> from Republican lawmakers over their efforts to pressure financial institutions. <strong><a href=\"https:\/\/dailycaller.com\/2021\/05\/17\/joe-biden-keystone-xl-pipeline-montana\/\">(RELATED: 19 States Urge Biden To Reinstate Keystone After Colonial Pipeline Hack Caused Mass Gas Shortages)<\/a><\/strong><\/p>\n<p>The state treasurers who signed the letter represent some of the nation\u2019s largest fossil fuel producers and collectively manage more than $600 billion in assets, <a href=\"https:\/\/www.axios.com\/states-banks-drop-coal-warning-biden-carbon-278bb3fb-2254-41b2-9b94-f986c1c9a3d2.html\">according<\/a> to financial records obtained by Axios. The letter\u2019s signatories threatened to terminate contracts with banks that cut off lending to the state\u2019s fossil fuel industry in response to federal pressure.<\/p>\n<p>\u201cAs the chief financial officers of our respective states, we entrust banks and financial institutions with billions of our taxpayers\u2019 dollars,\u201d the treasurers said. \u201cIt is only logical that we will give significant weight to the fact that an institution engaged in tactics that will harm the people whose money they are handling before entering into or extending any contract.\u201d<\/p>\n<p>Moore further <a href=\"https:\/\/www.axios.com\/states-banks-drop-coal-warning-biden-carbon-278bb3fb-2254-41b2-9b94-f986c1c9a3d2.html\">told Axios<\/a> that coal and gas producers in West Virginia have reported difficulties obtaining financing from banks. He blamed the Biden administration for pressuring financial institutions to \u201cgreen\u201d their lending and investment portfolios.<\/p>\n<p>\u201cFrankly, it is not fair for the people of West Virginia to allow a bank to handle our money when they\u2019re diametrically opposed to our way of life,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A coalition of 15 Republican state treasurers is threatening to pull assets from financial institutions that \u201crefuse to lend to or invest in\u201d the coal industry and other fossil fuels.The &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2313107,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/05\/GettyImages-1230819381-scaled-e1614213957847.jpg","fifu_image_alt":"15 States Threaten To Pull Assets From Big Banks That Cut Off Fossil Fuels","footnotes":""},"categories":[],"tags":[],"class_list":["post-541316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/05\/GettyImages-1230819381-scaled-e1614213957847.jpg","fifu_image_alt":"15 States Threaten To Pull Assets From Big Banks That Cut Off Fossil Fuels","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/541316","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=541316"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/541316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2313107"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=541316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=541316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=541316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}