Kentucky State Treasurer Allison Ball has released a list of 11 financial companies that it considers to be boycotting energy companies and as a result risk divestment. US asset management giant BlackRock is on the list, along with European asset managers BNP Paribas, Danske Bank, Nordea Bank, Schroders, Svenska Handelsbanken and Swedbank. The move follows a law passed last year by the Kentucky General Assembly directing the state treasurer to publish such a list and divest any company that doesn’t stop engaging in what it terms “energy company boycott”. In August, Texas Comptroller Glenn Hegar also published a list of financial companies he considered boycotting energy companies after the passing of a 2021 state law restricting the state’s pension fund and other state entities from investing in companies that divest from fossil fuels.
Today I am releasing my office’s first list of financial companies that boycott energy companies. 11 institutions are listed. These institutions are subject to divestment by state governmental entities for boycotting energy companies.
— Treasurer Ball (@KYTreasurer) January 3, 2023