MARTINSBURG, W.Va. (DC News Now) — West Virginia State Treasurer Riley Moore is raising concerns about investment managers who are averse to portfolios that include coal and natural gas holdings.
Moore has the authority to manage the state’s pension retirement system.
Many national banks have decided to follow guidelines established by a standard of Environmental, Social Governance, or ESG. Those banks favor companies committed to “climate benchmarks” and sustainability.
Moore is focused on maximizing returns for pension fund investments and sees West Virginia energy concerns as a way to do that.
“They’re forcing dollars to their liberal ideas instead of returns for investors,” says Moore. “I’m focused on returns for the people of West Virginia.”
West Virginia’s legislature has given the state treasurer to make investment decisions for the pension fund.
Moore is a candidate for West Virginia’s Second Congressional District in next year’s election. The Republican primary is in May.