Regulatory Round-up: West Virginia’s ESG blacklist; GFANZ’s net zero framework release; SEC’s Goldman Sachs investigation

Six large financial groups have been warned they could be blacklisted by West Virginia – the latest US state to pass legislation targeted at banks and investors that boycott fossil fuels investments – according to The Epoch Times. It reported that the firms are BlackRock, Goldman Sachs, JPMorgan Chase, Morgan Stanley, US Bancorp, and Wells Fargo.

Last June, Texas passed a similar law barring state agencies from investing in funds that sideline fossil fuel-based energy companies. Meanwhile in Utah and Idaho, officials have criticised credit rating agencies for taking ESG factors into account.