Charleston, WV (WOAY) – West Virginia Attorney General Patrick Morrisey is leading a 21-state coalition filing formal comments regarding any Commodity Futures Trading Commission (CFTC) initiative requiring policy changes for climate change.
CFTC opened a request for comment better to inform the commission’s understanding of climate-related financial risk as it applies to the derivatives and underlying commodities market.
Attorney General Morrisey alleges the request will lead to the commission’s “discrimination of states such as West Virginia that depend on fossil fuels for energy.”
The coalition reports CFTC’s effort would be unlawful as the commission would be “acting beyond its authority,” stating that “disclosure would create First Amendment concerns and courts would find climate-related action by the CFTC arbitrary.”
Joining West Virginia in the letter are Alabama, Alaska, Arizona, Arkansas, Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, Texas, Utah, Virginia, and Wyoming.
Read a copy of the coalition’s letter at: https://bit.ly/3MlcwHg.
