Charleston, W.Va. (WVDN) – Today, the West Virginia Investment Management Board passed Governor Morrisey’s resolution to ban investments in companies owned or controlled by the Chinese Communist Party (CCP), and to begin a divestment plan from any currently-owned investments in those companies.
“The Chinese Communist Party poses a threat to our national security, dodges transparency and legal oversight, and represents a financial risk that we cannot take,” said Governor Morrisey. “With the passage of this resolution, the West Virginia Investment Management Board will not invest in CCP owned or controlled companies and seek to prudently divest of those investments.”
The West Virginia Investment Management Board manages the assets of the Defined Benefit Plans for Teachers, Deputy Sheriffs, Public Employees, State Police, Division of Public Safety, and Judges; along with the Workers’ Compensation Fund, the Coal Workers’ Pneumoconiosis Fund, the Wildlife Endowment Fund, several endowment funds, insurance plans, and municipal plans.
