Kentucky warned several financial institutions that do business with the state Tuesday that they’re in jeopardy of being divested from unless they drop their support of ESG investment practices that consider climate change, a stance Republicans deem anti-fossil fuel.
Kentucky Treasurer Allison Ball placed 11 firms on a blacklist, triggering a three-month countdown under a new state law that could make them subject to divestment of state funds unless the companies put an end to “energy company boycotts.”
“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” said Ms.