On Wednesday, Eric Schmitt of Missouri and 18 other state prosecutors stated that they would investigate six big banks for suspected collusion with a United Nations coalition supporting the E.S.G. (environmental, social, and governance) agenda.
State attorneys general in the following jurisdictions have been requested to investigate Citigroup, Bank of America, JP Morgan Chase, Goldman Sachs, Morgan Stanley, and Wells Fargo: Included are the states of Missouri, Arizona, Arkansas, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, Texas, and Virginia.
The A.G.s are supportive of the bank’s participation in the United Nations’ “Net-Zero Banking Alliance” due to the alliance’s stated goal to “align their lending and investment portfolios with net-zero emissions by the year 2050.” This group of concerned citizens has given their stamp of approval to E.S.G.’s radical climate objectives. More than forty percent of the world’s financial assets are currently controlled by members of the United Nations E.S.G. bank alliance. Because “banks play a critical role in aiding the worldwide transformation of the real economy to net-zero emissions,” the alliance’s goal is to “reinforce, accelerate, and stimulate the execution of decarbonization projects.”
The state attorney general of Missouri, Eric Schmitt, has described the Net-Zero Financial Alliance as “a massive worldwide agreement by major banking institutions, controlled by the U.N.” that seeks to prohibit the supply of financial services to enterprises engaged in the production or use of fossil fuels. He was worried that enterprises “essential to Missouri’s and America’s economy” may not get funding if E.S.G. were legalized and put into operation. This might be any type of company that doesn’t involve extracting oil from the ground. General Schmitt, when asked about his intention to remove American corporations who do not agree with the global climate agenda, said, “We are heading a coalition assessing banks for relinquishing power to the U.N.” Foreign governments should not impose their own rules on American companies. It was even suggested by a well-known politician that large financial institutions were the primary reason why the American regulatory system even exists.
Various state attorneys general have each brought forward their own concerns.
List the GCIs you’ve lately joined, and explain why you’re interested in them.
Please explain how your company’s board of directors, investors, and any Covered Companies participated in the decision to join each Global Climate Initiative.
In order to help others learn more about the Global Climate Initiatives in which you have engaged, please fill out the form below. Your involvement, whether initial or ongoing, with each Global Climate Initiative; the date of your initial involvement; any promises, pledges, or other commitments you made to the Global Climate Initiative; any actions you took or failed to take pursuant to or consistent with, such commitments; your involvement, whether initial or ongoing; and the employee(s) responsible for managing Your relationship with each Global Climate Initiative.
Tell us what you did to bring the Net-Zero Banking Alliance’s tenets into your own company.
Including how you’ve connected with other Net-Zero Banking Alliance members and what additional efforts you’ve made to bring your financial institution into line with the Principles for Responsible Banking.
Please explain how you intend to “facilitate[the] vital shift in the real economy by highlighting client connections and offering goods and services to help customers’ transition,” as the Net-Zero Banking Alliance puts it.
As a Net-Zero Banking Alliance member, you have pledged to “engage in business and industry (financial and real economy) action, as well as governmental policies to assist promote a net-zero transformation of economic sectors in line with science and taking consideration of related social implications.” If you intend to see this through, please provide details on your progress thus far.
In a statement issued on Wednesday, General Schmitt’s office expressed optimism that the inquiry will continue to turn up new evidence.