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Sunday, December 22, 2024

Goldman Sachs and Wells Fargo Withdraw From UN Net Zero Banking Alliance To Such On The Global Warming Cockpipe

 

I guess they finally came to their senses and realized the UN's cockpipe tastes like China's asshole.

Since April 2021, 145 banks in 44 countries with more than $73 trillion in assets have joined NZBA, tripling membership in three years. 

"In April 2021 when NZBA launched, no bank had set a science-based sectoral 2030 target for its financed emissions using 1.5°C scenarios," it says. "Today, over half of NZBA banks have set such targets."

There are two less on the list.

Goldman Sachs was the first to withdraw from the alliance this month, ESG Today reported. Wells Fargo was the second, announcing its departure Friday. 

The banks withdrew two years after 19 state attorneys general launched an investigation into them and four other institutions, Bank of America, Citigroup, JP Morgan Chase and Morgan Stanley, for alleged deceptive trade practices connected to ESG. 

Four states led the investigation: Arizona, Kentucky, Missouri and Texas. Others involved include Arkansas, Indiana, Kansas, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, Tennessee and Virginia. Five state investigations aren't public for confidentiality reasons. 

The investigation was the third launched by Texas AG Ken Paxton into deceptive trade practices connected to ESG, which he argues were designed to negatively impact the Texas oil and natural gas industry. The industry is the lifeblood of the Texas economy and major economic engine for the country and world, The Center Square has reported. 

The Texas oil and natural gas industry accounts for nearly one-third of Texas's GDP and funds more than 10% of the state's budget.

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