West Virginia Treasurer Riley Moore said on Wednesday the West Virginia Board of Treasury Investments (WVBTI) outperformed the funds run by BlackRock and other firms blacklisted from doing business with the state the last year for boycotting the fossil fuel industry.
The WVBTI, which manages the short-term operating funds for the state and local governments and is chaired by Moore, announced it was divesting from BlackRock for pushing environmental, social, and governance (ESG) standards last January. [emphasis, links added]
Then, later in the year, the West Virginia legislature passed legislation proposed by Moore to create a blacklist of financial institutions boycotting the fossil fuel industry.
Moore wrote in a press release:
The West Virginia Board of Treasury Investments’ state Money Market Pool has consistently received the top ‘AAAm’ rating from Standard & Poor’s.
According to an analysis of other private AAAm-rated money market funds, the West Virginia Money Market Pool’s 3.84-percent quarterly net yield for the fourth quarter of 2022 outperformed all the leading First Tier Institutional private money market funds – including those run by BlackRock, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley.
“Our latest performance clearly shows that when you focus on generating the best financial returns instead of social change, you will produce the best outcomes for your clients and investors,” Moore said in a statement.
“The fact that the [WVBTI] is now outperforming the largest Wall Street firms shows that this industry-wide worship of ESG is a farce that’s robbing returns and prosperity from their clients.”
Moore has been an outspoken critic of the financial industry pushing ESG standards — which boycotts the fossil fuel industry and hurts his state, in addition to promoting social causes favored by the left.
The Republican state treasurer also noted that besides outperforming the broader market, the assets under WVBTI topped the $10 billion mark — $10,242,699,000 specifically — for the first time in the state’s history as of the end of January 2o23.
Read more at Breitbart
ESG investing and enviromentalism are never satisfied. They move the goal posts without warning, as if that’s perfectly acceptable. Clean air and water wasn’t good enough. Carbon dioxide, plant food! Is the new Devil. Your lungs deal easily with 40,000ppm of CO2, but the Devil is inside you. You’re born guilty of sin. Sounds familiar.
Of course they constantly move the goalposts because once we’ve reached the previous goalposts and all is still good they must come up with the next disaster awaiting us.
In a previous life I served on the US Navy’s submarines where we have to maintain our “atmosphere”. We used pure water (that we make) and electricity to split hydrogen and oxygen, thereby making our oxygen (the H2 was bubbled overboard). We also CO burner to convert carbon monoxide to CO2 and had a CO2 scrubber to reduce carbon dioxide. But our level of CO2 was 10x or more than what we have in the atmosphere right now to no negative effects.
The World Economic Forum(WEF)and the CFR the Globalists who wants World Government the United Nations(UN)is Americas worst enemy right on American Soil