West Virginia has barred five major financial institutions, including Blackrock Inc and JPMorgan Chase & Co (JPM.N)\n , from new state business after determining that they were boycotting the fossil fuel industry.
WASHINGTON, July 28 - West Virginia has barred five major financial institutions, including Blackrock Inc and JPMorgan Chase & CoGoldman Sachs
Spokespeople for Wells Fargo and Morgan Stanley said the banks disagreed with the decision, and a spokesperson for JPMorgan called it "disconnected from the facts." A BlackRock spokesperson said it also disagreed with the decision."BlackRock does not boycott energy companies, and we do not pursue divestment from sectors and industries as a policy," the spokesperson said.
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