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West Virginia cracks down on major banks over environmental activism

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West Virginia cracks down on major banks over environmental activism


The State of West Virginia banned four major financial institutions from entering into tens of billions of dollars worth of state contracts over their environmental policies.

West Virginia State Treasurer Riley Moore added Citigroup, TD Bank, HSBC and The Northern Trust Company – banks which collectively oversee assets worth trillions of dollars – to his state’s Restricted Financial Institution List after he determined they are actively engaged in a boycott of the fossil fuel industry.

The action was taken in accordance with a 2022 law the state’s legislature passed to fight back against the sustainable investing movement.

“We are absolutely going to stand by our industries here in fossil fuels,” Moore told FOX Business. “Last year, the world burned more coal than any time in human history. The consumption of coal is not going down. That is a myth that is proliferated by the climate-activist left. So, why would we put ourselves in a position to not be part of that?”

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West Virginia Treasurer Riley Moore added four financial institutions to the state’s Restricted Financial Institution List. 
West Virginia State Treasurer’s Office

Overall, the Investment and Banking Services Division of the West Virginia State Treasurer’s Office managed $22 billion in banking transactions last year.

The four institutions Moore listed on Monday, in addition to the existing banks listed, will be barred from the opportunity to bid on those transactions in the future. 

According to Moore’s office, the banks were added to the Restricted Financial Institution List following an extensive review of their environmental, social and governance (ESG) policies.

Four financial institutions, including Citigroup, were barred following an extensive review of their ESG policies. REUTERS

The ESG movement, which has picked up steam in recent years, broadly calls for investments to be pulled from traditional energy industries and diverted to green energy industries in the fight against global warming.

In accordance with state law, Moore issued notices in late February to Citigroup, TD Bank, HSBC and The Northern Trust Company, warning that they would be listed unless they altered their ESG strategy or demonstrated they are not boycotting the fossil fuel industry.

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Two other banks, BMO Bank and Fifth Third Bank, were also warned at the time, but they have since shown their investment strategy doesn’t boycott traditional energy companies.

West Virginia State Treasurer Riley Moore added Citigroup, TD Bank, HSBC and The Northern Trust Company. REUTERS

“I applaud both of these institutions for working with us in a cooperative way to ensure the free market remains free and our state’s critical industries are treated fairly,” said Moore.

Moore’s announcement Monday represents a new front in West Virginia’s war on the ESG movement.

While his office previously reviewed and listed banks currently engaged in business with the state, he recently expanded the scope of his ongoing review of the banking sector to include institutions not currently authorized to do business with the state.

The four banks listed join BlackRock, Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co., which remain on the Restricted Financial Institution List.

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Moore published his first list in July 2022 after West Virginia enacted the Restricted Financial Institution List law, which he had proposed.

That law empowers the West Virginia Office of the State Treasurer to list financial institutions that have publicly stated they will refuse, terminate or limit doing business with coal, oil or natural gas companies “without a reasonable business purpose.”

The banks Moore has already listed, though, have pushed back, arguing they do not boycott the fossil fuel industry.

For example, BlackRock noted in its 2022 response to Moore that it is among the largest investors in energy companies, with about $286 billion in assets invested in those companies globally.

“Northern Trust does not restrict or prohibit investment in fossil fuel-based energy companies,” a Northern Trust spokesperson said in a statement, noting its $52 billion investment exposure to the traditional energy sector and services offered for managing oil, gas and other fossil fuels for clients.

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“We seek to work with – not boycott – energy companies,” an HSBC spokesperson added. “Our policies anticipate that we will continue to provide corporate lending and capital markets transaction support to energy-based customers to both maintain supplies as well as support an orderly and just transition that helps with the creation of new jobs. We are supportive of energy companies throughout the U.S., whom we are pleased to have as clients.”

Citigroup and TD Bank did not immediately respond to requests for comment.

“SFOF has highlighted again and again how ESG investments are a losing proposition,” said Derek Kreifels, the CEO of the State Financial Officers Foundation, a group that has rallied states to push back against the ESG movement. 

“By adding another four banks to its restricted financial institution list, West Virginia Treasurer Riley Moore is continuing to lead the charge in the fight against ESG,” Kreifels continued. “I applaud Treasurer Moore for standing up against ESG activism. He has our full support.”

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Man gets 10 years in killing of 14-year-old Virginia boy

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Man gets 10 years in killing of 14-year-old Virginia boy


A Virginia man was sentenced to 10 years in prison Friday – far less than the life sentence he faced at trial last year – for the death of a 14-year-old boy.

Ismael Cruz-Delcid was 18 when he shot and killed Michai Malave in a hotel parking lot in Herndon in March 2024.

Michai was shot after he got off the school bus with a friend. The shooter left the scene and hid the gun but turned himself in the next day.

Prosecutors asked a jury to find Cruz-Delcid guilty of first-degree murder. Michai’s family wanted Cruz-Delcid sentenced to life in prison.

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During last year’s trial, Cruz-Delcid’s defense attorney told a jury his client believed Michai was affiliated with a gang. Cruz-Delcid was in his car alone that day and, according to testimony, when Michai and a friend got off of the school bus, Cruz-Delcid got out of his car and confronted Michai. A fight quickly ended with gunfire.

Cruz-Delcid argued he shot Michai in self-defense. Michai was unarmed.

That trial ultimately ended with a hung jury. Prosecutors intended to retry the case but told the court Friday they had a witness who wouldn’t be able to testify at the trial, so prosecutors and the family felt it would be too risky to move forward without that witness.

“We kinda had to get ahead of it and offer this deal,” said Michai’s mother, Jenna Malave. “I wasn’t happy about it, but there was no part of me that can sit in a courtroom, and they have to drop the charges.”

Cruz-Delcid got a plea agreement and 10 years, instead.

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“Well, Ismael should be facing life, we all know that, but I’ve made peace with it,” Malave said.

Michai’s father testified Friday at sentencing, telling the court his son was his best friend and that he will never be the same again.

Michai’s mother told the court that while she’s made peace with the result of the case, forgiveness is not part of the narrative today.

“I’m just ready for me and my daughter to be able to move on and try to heal without getting that Band-Aid ripped off again every few months,” she said.

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Virginia farmer protects Secretariat’s playground from solar farms, data centers

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Virginia farmer protects Secretariat’s playground from solar farms, data centers


CAROLINE COUNTY, Va. — A sprawling pasture in Caroline County where racing legend Secretariat once grazed as a young colt will be protected from development forever, thanks to a farmer’s dedication to preserving Virginia’s equine heritage.

Kevin Engel, who owns Engel Family Farms, has placed The Cove in Doswell under a permanent conservation easement with the Capital Region Land Conservancy. The 350-acre property, which includes forestland adjacent to Secretariat’s birthplace at the State Fairgrounds, will remain agricultural land in perpetuity.

“This is part of our family. Part of the history of the state. Part of the history of this country,” Engel said.

AP and WTVR

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Kevin Engel, who owns Engel Family Farms, has placed The Cove in Doswell under a permanent conservation easement with the Capital Region Land Conservancy.

The Cove holds special significance as the place where the future Triple Crown champion Secretariat first stretched his legs before his legendary 1973 racing season. Leeanne Ladin with Secretariat for Virginia, an authority on the famous thoroughbred, confirmed the historical importance of the site.

“You can feel the history. That is where Secretariat grazed and played as a young colt,” Ladin said. “There has still never been quite anything like it.”

Engel began farming at The Cove in 1982 and developed a friendship with Secretariat’s trailblazing owner, the late Penny Chenery. In 2023, his family purchased the property to ensure its preservation.

“That was the time where I just wanted to come out by myself and look and say wow we finally got it done and give thanks for that,” Engel said.

The conservation easement means no solar farms, subdivisions or data centers can ever be built where Secretariat once played.

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Parker Agelasto with the Capital Region Land Conservancy praised Engel’s vision, noting the timing is crucial as Central Virginia faces rapid development pressure.

“Central Virginia in the last few years has been the fastest growing region of the whole state. We have seen some of our individual counties being the fastest growing in the nation,” Agelasto said.

The property has been an active farm for hundreds of years, making its preservation even more significant for Virginia’s agricultural heritage.

“Where we are is remarkable for its history because it has been an active farm property for hundreds of years,” Agelasto said.

For Engel, protecting The Cove represents something more valuable than potential development profits.

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“Money is not everything. It helps, but I want to build something that goes way beyond me,” Engel said. “I want something that sticks around forever.”

The farmer, who describes himself as a Secretariat devotee, was instrumental in bringing a bronze statue of the champion to Ashland in 2024. Now he can ensure future generations will experience the same pastoral landscape that shaped America’s greatest racehorse.

“There are only 50 states in this country, but there is only one state that Secretariat came from. This is it! And this is the spot,” Engel said. “We need to keep this around forever.”

Ladin expressed relief knowing this piece of racing history will be protected.

“It is such a wonderful thing that he and his family did because that really is preserving a special piece of Meadow history and Virginia history absolutely,” Ladin said.

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The Cove at Meadow Farm in Caroline County now stands as a permanent testament to Virginia’s equine legacy, where visitors can walk the same fields where a legend once roamed.

“Every piece of land has a story to tell, but you have to let it tell the story. And in this instance, this land is forever connected to Secretariat,” Agelasto said.

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Watch Greg McQuade’s stories on CBS 6 and WTVR.com. If you know someone Greg should profile, email him at greg.mcquade@wtvr.com.

This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy. To learn more about how we use AI in our newsroom, click here.





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Flu cases climb across Virginia, state reaches highest totals in years

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Flu cases climb across Virginia, state reaches highest totals in years


HARRISONBURG, Va. (WHSV) – Flu cases are climbing across Virginia, reaching some of the highest levels the commonwealth has seen in years.

According to the Virginia Department of Health, over 21% of all emergency department visits in the northwest region this flu season were for respiratory illnesses. Rachel Dumene, spokesperson for the Central Shenandoah Health District, said while viruses can mutate and cause symptoms that are more severe, she said the challenge this year is how fast the flu is spreading.

“Sometimes they can mutate to create new symptoms or become more severe. However, that’s not what we’re seeing this year,” Dumene said. “This is a pretty average flu. However, the thing that’s different about it is that it’s spreading at a more rapid pace.“

That faster spread is leading to more infections overall, and more people experiencing serious symptoms. Children make up the largest share of flu-related emergency room visits in the region, which is why Dumene said vaccination remains one of the best tools to keep people out of the hospital.

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“Even though this flu virus seems to be spreading at a higher rate than previous years, the flu vaccine still helps prevent against severe illness,” she said. “It is possible that people who get vaccinated can still get the flu. However, this can keep them from experiencing very negative consequences or having to go to the emergency room.”

It’s still not too late to get vaccinated, Dumene said. Protection develops about two weeks after the shot, and peak flu season often doesn’t arrive until February. She also recommended washing hands frequently, covering coughs and sneezes and staying home when sick to slow the spread.

What hospitals are seeing

Augusta Health Public Relations Manager Kristen Printy said regional hospitals and emergency medical services are working together to manage a seasonal increase in patients to make sure people across the region receive the care they need.

Flu problems(WHSV)

“This season has brought an increase in patients, and it’s important that hospitals and EMS agencies continue to work closely together,” said Crystal Farmer, MBA, MSN, RN, FACHE, Senior Vice President and Chief Operating Officer of Augusta Health. “By coordinating our efforts, we can help ensure patients get the right care, in the right place, at the right time, even when demand is higher.”

Robert Garwood, VP, Chief Medical Officer Sentara RMH Medical Center said increased ER volume secondary of the flu has translated into increased hospital admissions of these patients.

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“The current flu vaccine does not cover the strain that’s circulating throughout our area really well, which has resulted in patients with some significant illness. This is again translated to increase hospital patient censuses and less bed availability, which also impacts our ED,” Garwood said.

Augusta Health added that people should always seek emergency care for serious or life-threatening conditions. For less urgent needs, people are encouraged to consider primary care, urgent care, or telehealth options when appropriate.



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