Kentucky Lists BlackRock, Citi and Others as Energy Foes (1)

BlackRock Inc., Citigroup Inc., and JPMorgan Chase & Co are among 11 financial institutions that are facing pushback from Kentucky after being deemed hostile to the fossil fuel industry.

Kentucky Treasurer Allison Ball put the firms on a “Restricted Financial Institutions” list compiled in accordance with state law, saying they’re engaged in “energy company boycotts.”

The legislation, which resembles actions taken by Republican-led states including West Virginia and Texas, will require state entities to divest from the blacklisted firms, with certain exceptions.

“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature ...