WV SB850

Creates the "Protecting Shareholders Act" establishing that corporate directors and officers breach their fiduciary duty when they prioritize environmental, social, and governance (ESG) interests over shareholders' financial interests

Defines "pecuniary interest" as minimizing financial risk and maximizing financial return to shareholders

Defines "diversity, equity, and inclusion" (DEI) as actions influencing hiring based on race, color, sex, ethnicity, or national origin outside of colorblind/sex-neutral processes, or promoting benefits and policies based on these characteristics

Defines "environmental, social, and governance" as a framework measuring greenhouse gas emissions, incorporating DEI into decisions, and examining staff/board diversity

Establishes that prioritizing any ESG element over pecuniary interests constitutes prima facie evidence of breach of fiduciary duty by directors or officers