Congressman Moore Reacts to BlackRock Departure from ESG Alliance

Washington, D.C. – Congressman Riley M. Moore released the following statement after news broke that BlackRock has exited the U.N. backed “Net-Zero Asset Managers Initiative.” This organization acted as an anti-fossil fuel cartel that pressured member companies to abide by frivolous emission standards and boycott the energy industry.

This news comes within days of the third anniversary of Congressman Moore divesting the State of West Virginia’s tax dollars from BlackRock over its support for anti-fossil fuel environmental, social, and governance (ESG) policies while serving as State Treasurer.

“This is a major victory in the fight against ESG investing, which pressures companies to blacklist specific industries and the workers they employ,” said Congressman Moore. “I’m proud to have been the first elected official in America to divest from BlackRock, and while today’s news is encouraging, we must remain vigilant.”

Background: In January 2022, then-Treasurer Riley M. Moore divested state tax dollars from BlackRock over their promotion of ESG. Following this action, he helped guide a coalition of a dozen other state financial officers in implementing similar efforts.

Subsequently, he teamed up with state lawmakers to pass legislation that created a restricted financial institution list. This law empowered the State Treasurer to bar banks and other financial firms from doing business with the state if their policies conflicted with or boycotted the energy industry. Several major banks and firms have been placed on the list.

Please direct all media inquiries to Walter Smoloski (Walter.Smoloski1@mail.hosue.gov).

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