SB 262: West Virginia Restricts Contracts with Financial Institutions that Boycott Energy Companies
Summary
SB 262 was enacted in March 2022 and authorizes the Treasurer to restrict state banking contracts with financial institutions engaged in boycotts of companies that produce, sell, or transport fossil fuel-based energy, companies that refuse to pledge to meet environmental standards exceeding state and federal law, or companies that do business with such companies. The law authorizes the treasurer to prepare a list of financial institutions engaged in boycotting energy companies, to publicly post the list, and to update it annually. The Treasurer must send written notice to financial institutions before adding them to the list.
Impacted Sectors
Additional Information
© 2025 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.