Virginia
West Virginia treasurer warns new banks of ESG-based blacklisting
![West Virginia treasurer warns new banks of ESG-based blacklisting](https://arizent.brightspotcdn.com/dims4/default/0822e4f/2147483647/strip/true/crop/2977x1563+0+199/resize/1200x630!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F4a%2F99%2F163e0bfe48deb4250d084effcc3e%2Fbb-riley-moore-2021-wva.jpg)
West Virginia State Treasurer
The blacklist is authorized in a 2022 state law
The treasurer can disqualify a restricted financial institution from the competitive bidding process or from any other official selection process; refuse to enter into a banking contract with a restricted financial institution based on its restricted status; and require an agreement by the financial institution not to engage in boycott of energy companies for the duration of the contract.
West Virginia State Treasury
The Treasurer’s Office has made an initial determination that the six institutions appear to be engaged in boycotts of fossil fuel companies as defined under state law. The determination was based on a review of each institution’s environmental, social and governance policies and other available statements, Moore said
The financial institutions, which were not named by Moore, received notices of potential inclusion on the list last Friday.
However, the
The institutions now have 30 days to submit a response. Unless the firms show to the treasurer’s office they are not engaged in a boycott of fossil fuel companies they will officially be placed on the list in 45 days.
One of the firms listed by the Times, HSBC, told the Washington Times it rejected the assertion it is a fossil-fuel “boycotter.”
The restrictions don’t apply to municipal bond issuances by the state because the Treasurer’s Office does not handle bond issuances. They mainly apply to the banking and cash handling functions of the office, which see about $20 billion in inflows and outflows a year. It also does not apply to state pension funds.
Under the 2022 law, the treasurer may exclude banks on the list from eligibility for contracts for state banking services.
It follows a
The first West Virginia list was published in July 2022 when Moore determined
Moore says the blacklist protects the traditional extraction industries of West Virginia.
The natural resources industry represents about 3% of West Virginia jobs, according to the West Virginia University’s most recent
“While the environmental, social and governance or ESG movement might be politically popular in California or in New York, financial institutions need to understand their practices are hurting people across West Virginia,” Moore said at the time.
Last week, Moore praised JPMorgan Asset Management and State Street Global Advisors for their choice to
“This is a step in the right direction and significant victory in our states’ fight against the international corporate collusion targeting the coal, oil and natural gas industries,” Moore said.
In January, Moore applauded the New York Stock Exchange’s decision to curtail the decision making freedom of private sector investors by withdrawing its proposal filed to Securities and Exchange Commission that would have allowed the public listing of Natural Asset Companies, climate-focused corporations designed to convert natural assets into financial capital by taking over land owned by private entities and individuals and the federal, state and local government.
Under the NYSE proposal, NACs would have had “the authority to manage the areas for conservation, restoration or sustainable management” and are prohibited from engaging in fossil fuel-related developments.”
In December, Moore blasted President Joe Biden’s ESG policies after his special climate envoy John Kerry pledged at the 28th United Nations Climate Change Conference that the U.S. would begin a phase-out of all existing coal-based power plants and urged that coal use be eliminated worldwide. Moore urged Congress to use its authority to block the agreements made at the summit.
“West Virginia and our coalition of states have been fighting for years against these efforts to boycott and curtail capital to our critical energy industries and diminish important economic activity and revenue for our states. This is a sign our efforts are making an impact,” Moore said Monday.
Last month, South Carolina
The bill,
It directs that all investment decisions made by the South Carolina Retirement System Investment Commission be based solely on maximizing the highest rate of return and not on ESG factors.
Other Republican-run states have followed Texas’ lead and enacted laws that have led to underwriter bans. Last year, the Oklahoma Treasurer’s Office produced a
Leaders in GOP states have also battled what they like to call “woke culture” in other areas as well. Wokeness, according to court testimony by an official in anti-ESG leader Florida Gov. Ron DeSantis’ administration,
Last year, DeSantis
The Florida
Last week, DeSantis unveiled
“The district’s recent audit report justified our shared concerns: Disney was acting as a law unto itself,” DeSantis said. “Since our reforms, the new district has taken bold action to increase transparency, community engagement, and fiscal responsibility, and has saved taxpayers $18.4 million.”
The CFTOD has implemented safety inspections by the Florida Department of Transportation, he said, for the Disney monorail system, saying it had lacked FDOT oversight before.
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Virginia
Heat wave causing drought for Virginia Beach farmers
![Heat wave causing drought for Virginia Beach farmers](https://www.wavy.com/wp-content/uploads/sites/3/2024/06/thumbnail_IMG_0034.jpg?w=1280)
HAMPTON ROADS, Va. (WAVY) — While Hampton Roads got some much-needed rain Monday, it hasn’t been enough for farmers, including one who says it has been adversely affecting his crops.
Vaughn Farms Produce has been in business in the Pungo community of Virginia Beach since the 1800s, and current owner Robert Vaughn said the drought has been affecting his crops for months.
“We might have had two-tenths of an inch of rain,” Vaughn said. “If you accumulate that on top of the heat, then you’ve got serious problems.”
Running 300 acres of farmland has been an uphill battle for Vaughn and his wife, as their most popular produce — strawberries and soybeans — have been impacted. But he said growing corn and pumpkins has been the greatest challenge.
“It’s no more than four or five feet tall that … tassel, and that’s when it needs the majority of the water and it’s not getting it,” Vaughn said. “There are going to be crop failures down here this year and [it’s] something we haven’t seen in eight or 10 years. It’s been a dust bowl. I don’t dare plant the seed because it’s not going to come up.”
He said the best solution is using irrigations systems, “but against the heat, it’s still not enough hydration for the crops,” he said. “Farming is kind of a gamble. We always laughed at farmers who say it would be less painful just to go to Las Vegas and roll it on on dice or so. But here we go, months and months trying to figure out what Mother Nature is going to give us.”
Despite the heat wearing and tearing on the crops, Vaughn Produce Farms will remain open until late August and then reopen in September for pumpkin season.
Virginia
What does a drought watch advisory mean for Central Virginia?
![What does a drought watch advisory mean for Central Virginia?](https://www.wric.com/wp-content/uploads/sites/74/2024/04/GettyImages-956769978-e1714089878429.jpg?w=1280)
RICHMOND, Va. (WRIC) — A drought advisory has been declared across Virginia, prompting 95 counties to be in the watch stage and 12 counties in the warning.
The Virginia Department of Environmental Quality (DEQ) in coordination with the Virginia Drought Monitoring Task Force issued these advisories in the afternoon on Monday, June 24 due to precipitation deficits in combination with increased temperatures resulting in rapid intensification of drought throughout the state.
The Shenandoah region was issued a drought warning, including Augusta, Rockingham, Shenandoah, Frederick, Page, Warren, and Clarke counties, along with Fauquier, Loudoun, Prince William, Arlington, and Fairfax counties for the Northern Virginia region.
All other counties in the state have been issued a watch advisory.
What are the differences between the advisories?
A drought watch is intended to help Virginians prepare for a potential drought, while a drought warning indicates a significant drought event is imminent — or about to happen.
A drought emergency is required during the height of a very severe or extreme drought event.
How can I help at home?
The Virginia DEQ lists the following responses to each drought stage declaration for those at home to take:
For a drought watch, minimize nonessential water use, review existing local water conservation and drought contingency plans and take conservation actions consistent with those plans,
For a drought warning:
- Minimize nonessential water use, including the elimination of non-essential flushing of water lines
- Begin voluntary water conservation requirements contained in drought water conservation and contingency plans
For a drought emergency, follow guidance about:
- irrigation of lawns, golf courses, and athletic fields;
- washing of paved surfaces such as streets, roads, sidewalks, driveways, garages, parking areas, tennis courts and patios;
- use of water for washing or cleaning mobile equipment, including autos, trucks, trailers, and boats;
- use of water for the operation of ornamental fountains, artificial waterfalls, misting machines, and reflecting pools;
- use of water to fill up and top off outdoor swimming pools; and
- serving water in restaurants, clubs, or eating-places.
The DEQ says it is working with local governments, public water works and those in affected areas to ensure drought response plans and ordinances are followed.
The department is also encouraging all across the state to minimize our water use, monitor drought conditions and detect and repair leaks at this time to help protect water supplies.
This is a developing story. Stick with 8News both on-air and online for updates.
Virginia
4-foot snake found in box of donations at Virginia Goodwill
![4-foot snake found in box of donations at Virginia Goodwill](https://www.wavy.com/wp-content/uploads/sites/3/2024/06/snake.png?w=1280)
Posted:
Updated:
STAFFORD COUNTY, Va. (WDCW) – Virginia authorities said a Goodwill employee recently discovered a 4-foot snake in a box of donated books.
“No snakes, employees, or deputies were harmed during the incident,” the Stafford County Sheriff’s Office (SCSO) said in a news release.
The captain of animal control responded to a Goodwill, located at 72 Doc Stone Road, after a 4-foot-long basilisk was found slithering in a box of donated books.
Stafford Sheriff officials couldn’t resist adding in a Harry Potter reference while explaining what happened to the “Slytherin Suspect.”
“Using his powers of persuasion, and a bit of Parseltongue” the captain was able to capture the snake and release it into the wild again, SCSO said.
It’s not clear how the reptile ended up in the box, but it goes without saying that live snakes are not accepted donations at the Virginia Goodwill, along with flammables, guns, old TVs, mattresses and broken furniture, among other items.
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