The state of Kentucky is warning a number of financial institutions, including BlackRock and JPMorgan Chase, to stop boycotting energy companies or the state may divest its funds in the months ahead.
Kentucky’s legislature enacted a law in 2022 that required the state’s treasurer’s office to publish an annual list of financial firms found to be engaging in a boycott of energy companies. Under the law, state entities have 30 days to notify the treasurer’s office if they have any direct or indirect holdings of listed firms, and must inform those firms. A listed financial institution has 90 days after receiving the notice to end the boycott or face divestment.
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