Fifteen Republican State Treasurers sent a warning that they will pull assets from financial institutions if they give in to Federal pressure to de-carbonize and “refuse to lend to or invest in” the fossil fuel and coal industry.
The letter (pdf), led by West Virginia Treasurer Riley Moore, is directed at Special Presidential Envoy for Climate John Kerry. It expresses concerns over reports that Kerry and other members of the Biden administration have been “privately pressuring” U.S. banks to stifle the fossil fuel industry.
