Tue May 9, 2023 – 4:15 pm EDT
OKLAHOMA CITY (LifeSiteNews) — The Oklahoma State Treasurer’s Office has announced that it will bar 13 major financial institutions, including BlackRock, J.P. Morgan, and Bank of America, from doing business with the state over their boycotting of energy companies in the name of so-called “environmental, social, and corporate governance” (ESG) standards.
Last year, Oklahoma enacted a law requiring it to divest from companies that boycott the fossil fuel industry, and the treasurer’s office subsequently sent inquiries across the corporate world as to which companies had such practices.
On May 3, the office announced that almost 160 financial institutions responded, and based on their answers 13 of them are going on the Restricted Financial Companies List: BlackRock, Inc., Wells Fargo & Co., J.P. Morgan Chase & Co., Bank of America, State Street Corp., GCM Grosvenor, Lexington Partners, FirstMark Fund Partners, StepStone VC Global Partners, WCM Investment Management, William Blair, Actis, and Climate First Bank. Others may be added to or removed from the list every 90 days.
“The energy sector is crucial to Oklahoma’s economy, providing jobs for our residents and helping drive economic growth,” said Oklahoma State Treasurer
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