Two Big Banks Leave the United Nations Net Zero Banking Alliance, But They're Still Uttering Climate Nonsense
The Center Square reports Goldman Sachs and Wells Fargo are withdrawing from the United Nations Net Zero Banking Alliance, which is a direct result of several states drawing a line in the sand about these big banks attempting to torpedo their oil and gas industries. It’s a big win, but it’s only a first step in bringing these globalist traitors to their knees:
Not soon after the general election, and within two weeks of each other, two major financial institutions have left a United Nations Net Zero Banking Alliance (NZBA).
This is after they joined three years ago, pledging to require environmental social governance standards (ESG) across their platforms, products and systems.
According to the "bank-led and UN-convened" NZBA, global banks joined the alliance, pledging to align their lending, investment, and capital markets activities with a net-zero greenhouse gas emissions by 2050, NZBA explains…
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…
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…
"The radical climate change movement has been waging an all-out war against American energy for years, and the last thing Americans need right now are corporate activists helping the left bankrupt our fossil fuel industry," Paxton said in 2022 when launching Texas' investigation. "If the largest banks in the world think they can get away with lying to consumers or taking any other illegal action designed to target a vital American industry like energy, they're dead wrong. This investigation is just getting started, and we won't stop until we get to the truth."'
…Under Texas law, financial institutions that boycott the oil and natural gas industry are prohibited from entering into contracts with state governmental entities. State law also requires state entities to divest from financial companies that boycott the oil and natural gas industry by implementing ESG policies. To date, 17 companies and 353 publicly traded investment funds are on Texas' ESG divestment list.
After financial institutions withdraw from the NZBA, they are permitted to do business with Texas, Paxton said. He also urged other financial institutions to follow suit and "end ESG policies that are hostile to our critical oil and gas industries."
Texas Comptroller Glenn Hegar has expressed skepticism about companies claiming to withdraw from ESG commitments noting there is often doublespeak in their announcements, The Center Square reported.
Notably, when leaving the alliance, a Goldman Sachs spokesperson said the company was still committed to the NZBA goals and has "the capabilities to achieve our goals and to support the sustainability objectives of our clients," EST Today reported. The company also said it was "very focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world."
"Goldman Sachs also confirmed that its goal to align its financing activities with net zero by 2050, and its interim sector-specific targets remained in place," EST Today reported.
Unless they’re lying, Goldman Sachs clearly intends to continue its virtue signaling and attempts to destroy oil and gas industry in other ways. Why is that? Because it wants to be among those who rule the world and they still see great opportunity for using climate as an excuse for ever more grifting off ratepayers and taxpayers. Goldman Sachs is a corporatist titan and views the future as a merger of Big Banks with BIg Government that will literally control everything.
This is why those of us who don’t want to live under such tyranny must be eternally vigilant and keep up the fight. The 19 states that have produced this victory must continue to put pressure on Big Banks and the other globalists and, yes, bring them to their knees. That’s because “no victory is forever and no defeat is final.” It’s a war against corruption and pride that never ends.
#BigBanks #GoldmanSachs #WellsFargo #Boycotts #Texas
Like all publicly held corporations, these Banks have no soul. They shift like sand dunes in the desert according to the direction of the political winds. Our goal as citizens perhaps ought to be to diligently keep the wind blowing from the right direction. But of course that takes time, dedication (commitment and focus combined as one) , diligence and a spine (courage and stamina combined as one) - traits to which, in the whole, our culture is only just now reawakening.
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