Wells Fargo drops financed emissions target amid ESG rethink
https://www.reuters.com/sustainability/climate-energy/wells-fargo-drops-financed-emissions-target-amid-esg-rethink-2025-02-28/ (Reuters) – (This Feb. 28 story has been corrected to change the attribution to Cushing, not Paddy McCully, in paragraph 10) Wells Fargo (WFC.N), opens new tab is scrapping its goal of achieving net-zero emissions across its financed portfolio by 2050 as banks rethink their sustainable lending activities. The goals had relied on many factors “outside […]
‘Don’t Call it ESG, Call it Resilience’: New buzzword tries to pretty up energy fraud
https://www.wsj.com/articles/dont-call-it-esg-call-it-resilience-067a2a9a?mod=Searchresults_pos5&page=1 By Yusuf Khan There’s a new buzzword in sustainability circles when it comes to investing in renewables and clean technologies: resilience. “In the beginning you had ‘social’ and ‘responsible investing’ and then it became ‘ethical investing’ and then a whole host of other things have sort of emerged from that,” said Jason Britton, chief product […]
Trump Effect: After Wall Street Exodus, The Net-Zero Banking Alliance Explores Axing 1.5C Temp Goal – ‘Such changes would amount to a clear departure from the founding tenets of the alliance’
Bloomberg: The largest climate-finance group for banks is exploring a list of fundamental adjustments to how it operates, as it seeks to right itself after a wave of high-profile exits. The Net-Zero Banking Alliance is considering an overhaul of its membership terms that may include abandoning a requirement for signatories to align their portfolios with a goal of limiting global warming to 1.5C …
The development follows a tumultuous few months for NZBA. The alliance was founded just four years ago and once claimed to represent over 40% of global banking assets. Now, with Wall Street responding to the Trump administration’s attacks on climate policies, net zero alliances are fighting for survival.
Goldman Sachs Group Inc. was the first Wall Street bank to turn its back on NZBA, announcing its decision a month after Donald Trump won the Nov. 5 presidential election. By Jan. 7, when JPMorgan Chase & Co. quit, not a single big US bank was left in the alliance. Canadian banks were quick to follow, virtually wiping NZBA off the North American map.
Federal Reserve Withdraws from Global Climate Coalition
Federal Reserve Withdraws from Global Climate Coalition By Charles Rotter In recent weeks, the climate policy landscape has shifted significantly, with institutions, governments, and corporations beginning to step back from the ambitious but economically questionable climate commitments they made over the last decade. Two major developments underscore this retreat: the U.S. Federal Reserve’s exit from […]
Mark Carney: The Wrongest Man at the Wrongest Time Ever – Climate-activist banker seeks Canadian leadership
Mark Carney: The Wrongest Man at the Wrongest Time Ever By Stephen Soukup T he politicization of business and capital markets has many fathers. BlackRock CEO Larry Fink, one of the most prominent and unrelenting advocates for “sustainability” in investing, is often described as such. Klaus Schwab, the now-retired chairman and founder of the World Economic […]
Wall Street Climate Group Net Zero Suspends Activities Following BlackRock’s Exit
https://www.breitbart.com/economy/2025/01/13/wall-street-climate-group-net-zero-suspends-activities-following-blackrocks-exit/ By John Carney The Net Zero Asset Managers initiative—a coalition of investment behemoths turned self-proclaimed climate warriors—hit a wall this week after BlackRock’s dramatic exit forced it to suspend operations. The fallout comes as U.S. political pressure mounts against the green agenda championed by corporate giants. BlackRock, the globe’s largest asset manager with $11.5 […]
The Global Net Zero Financial Cartel, Falling Apart
The Global Net Zero Financial Cartel, Falling Apart by Francis Menton Less than three weeks ago, on December 23, in a post on optimism about the potential demise of the green energy fantasy, I took note that two of the largest U.S. banks had just quit something called the “Net Zero Banking Alliance.” The two were Goldman Sachs and […]
Bloomberg News: BlackRock Leaves Major Climate Group Amid Wall Street Exodus — ‘As Donald Trump returns to the White House’
https://finance.yahoo.com/news/blackrock-leaves-major-climate-group-194831466.html?guccounter=1 By Silla Brush and Saijel Kishan (Bloomberg) — BlackRock Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming. The money manager said Thursday in a letter to clients that it decided to leave the Net-Zero Asset Managers initiative. Membership […]
BlackRock has officially left the UN-sponsored ‘Net Zero Asset Managers Initiative’ in a massive blow to the ESG investing movement
SCOOP: @BlackRock has officially left the @UN-sponsored “Net Zero Asset Managers Initiative” in a massive blow to the ESG investing movement. BlackRock is the world largest asset manager and once a leader in Environmental Social Governance investing. It alerted its clients today… — Charles Gasparino (@CGasparino) January 9, 2025
The last American Banker rats are leaving the UN Net Zero Banking club
The last American Banker rats are leaving the UN Net Zero Banking club By Jo Nova A few years ago they were all going to save the world from the sixth mass extinction, but now they just want to avoid an anti-trust suit. Such is the phase change of the Trump win, the largest banks […]