Climate Cartel Frays: Goldman Sachs Exits Global Green Banking Alliance
https://www.realclearenergy.org/articles/2024/12/30/climate_cartel_frays_goldman_sachs_exits_global_green_banking_alliance_1081596.html By Bonner Russell Cohen December 30, 2024 One month after the election of Donald Trump, and amid a deepening economic crisis in Europe, investment banking giant Goldman Sachs has broken ranks with a U.N.-sponsored coalition of high-end banks, dedicated to directing funds away from fossil-fuel projects worldwide. In abruptly walking away from the Net-Zero Banking […]
Wells Fargo departs climate banking group in another high-profile exit after Goldman
https://www.reuters.com/sustainability/sustainable-finance-reporting/wells-fargo-departs-climate-banking-group-another-high-profile-exit-after-2024-12-20/ Dec 20 (Reuters) – Wells Fargo (WFC.N), opens new tab has withdrawn from a group of global banks committed to curbing greenhouse gas emissions, increasing the number of high-profile firms exiting climate initiatives amid mounting political pressure. The bank has ended its membership in the Net-Zero Banking Alliance, a spokesperson said on Friday, two weeks after […]
Watch: Morano on The Elizabeth Farah Show talks Trump agenda & sounds the Alarm: The UN Paris Climate Pact Is a Weapon Against America!
America, it’s time to wake up and fight back! The climate agenda isn’t about saving the planet — it’s about controlling you, your energy, your food, and your freedom. Global elites, unelected bureaucrats, and organizations like the United Nations are pushing policies that no one voted for. The Paris Agreement, ESG mandates, and EPA regulations […]
Take a bow! Bloomberg declares ‘ESG Is in Its Flop Era’ as Donald ‘Drill, Baby, Drill’ Trump returns to WH – ‘Right-wing backlash has turned ESG into a four-letter word in terrified corporate boardrooms’
Bloomberg News: As a concept, environmentally responsible investing is in its flop era. Right-wing backlash has turned “ESG” into a four-letter word in terrified corporate boardrooms. Donald “Drill, Baby, Drill” Trump is returning to the White House. Bitcoin, possibly the least environmentally responsible investment on the planet, is at $100,000 and climbing.
No doubt, green investments are having a grim year. Investors pulled $24 billion from climate-related funds during the first three quarters of 2024, Bloomberg News reported last month, citing Morningstar data. I’d be shocked if that didn’t get much worse in the fourth quarter, during which “Trump trades” of all kinds, including Bitcoin, have been ascendant. Green energy would seem to be the antithesis of a Trump trade. You can already see the damage in the S&P Global Clean Energy Index, which has tumbled in the fourth quarter compared with the S&P 500 Index.
“Clean-energy stocks have struggled over the past year, particularly since the US presidential election.”
This is all about vibes. Fine, it’s a little bit about high interest rates, which hurt clean-energy investments. But it’s mainly vibes. Even before Trump’s election, corporate leaders were running scared from ESG in response to a political backlash led by Republicans at all levels of government. Last month, Texas Attorney General Ken Paxton sued several large asset managers, accusing them of conspiring to use ESG investing to hurt the fossil-fuel industry. On Friday, Goldman Sachs said it was leaving the Net-Zero Banking Alliance (part of the Glasgow Financial Alliance for Net Zero, which is co-chaired by Bloomberg LP founder Mike Bloomberg and Bloomberg Inc. chair Mark Carney), joining a stampede of other banks out of such groups. Goldman, like many of its peers, suggested it had achieved a state of green independence and no longer needed the support of others. Maybe, but the subtext in all of these announcements is clear: It’s time to lay low.
The Trump Effect: Goldman Sachs quits global climate coalition for banks – ‘Biggest bank to leave the Net-Zero Banking Alliance’
https://www.reuters.com/sustainability/sustainable-finance-reporting/goldman-sachs-quits-global-climate-coalition-banks-2024-12-06/ By Simon Jessop and Virginia Furness Biggest bank to leave the Net-Zero Banking Alliance Says it is focused on ‘elevated’ regulatory requirements Will continue to report on progress LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N), opens new tab said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight […]
ESG ‘vibe’ check: ‘Stock market investors are pulling a record amount of cash out of climate funds’ – ‘The main driver of the exodus is bad vibes’
https://www.semafor.com/newsletter/12/06/2024/opec-is-gearing-up-for-a-game-of-chicken-with-trump ESG vibe check Via Semafor: Stock market investors are pulling a record amount of cash out of climate funds, even though many have not underperformed. Globally in 2024, nearly $600 billion was held in mutual funds and ETFs designed around shares of companies participating in the energy transition, according to a report this week […]
Washington state pressing utilities to tack on a ‘social cost of carbon’ to electricity prices – But ‘the social cost of carbon is entirely bogus’
Washington state starts pressing utilities to tack on a “social cost of carbon” to electricity prices. What you need to know: 1. The “social cost of carbon” (SCC) is entirely bogus. 100% of our society depends on fossil fuels. 2. The social benefit of carbon is huge — I… pic.twitter.com/yLC8us0Bzd — Steve Milloy (@JunkScience) September […]
ESG forces paid researcher $6,800 to manufacture a ‘study’ showing anti-ESG laws are bad – But researcher admitted he actually ‘knows almost nothing about’ ESG
ESG CORRUPTS ACADEMIA: ESG forces paid Dr. Travis Roach about $6,800 to manufacture a “study” showing that anti-ESG laws are bad. But in this private email he admits he actually “knows almost nothing about” ESG. Yet his “study,” legitimized by his supposed “expertise,” was… pic.twitter.com/wi2nulCVAP — American Accountability Foundation (@ExposingBiden) July 8, 2024
‘You are evil,’ GOP lawmaker says to ‘climate-conscious’ investors – GOP House members allege a ‘climate cartel’ of investors & advocates are colluding to force companies to address ‘climate change’
https://subscriber.politicopro.com/article/eenews/2024/06/13/you-are-evil-gop-lawmaker-barks-at-climate-conscious-investors-00163050?source=email CLIMATEWIRE | House Republicans are accusing at least 15 powerful financial firms and advocacy groups of colluding to force major companies to address climate change and reduce fossil fuel production — harming consumers in the process. “You are evil,” Republican Rep. Harriet Hageman of Wyoming told group leaders Wednesday during a House Judiciary subcommittee hearing. […]
Top Biden Bureaucrat Consulted With Eco-Activists To Justify Infusing Social Justice Into Wind Program
https://dailycaller.com/2024/04/29/biden-boem-environmental-activists-justice/ By NICK POPE A senior Bureau of Ocean Energy Management (BOEM) official consulted climate activists about finding legal justification for the agency’s push to get developers to invest in “underserved communities,” according to communications obtained by Protect the Public’s Trust. Marissa Knodel, a senior adviser at BOEM who formerly worked for eco-advocacy group Earthjustice, sought the […]