{"id":1702729,"date":"2022-10-19T17:32:48","date_gmt":"2022-10-19T21:32:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1702729"},"modified":"2022-10-19T17:32:52","modified_gmt":"2022-10-19T21:32:52","slug":"conservative-attorneys-general-investigate-six-major-banks-for-wokeness","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/conservative-attorneys-general-investigate-six-major-banks-for-wokeness\/","title":{"rendered":"Conservative Attorneys General Investigate Six Major Banks For Wokeness"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fconservative-attorneys-general-investigate-six-major-banks-for-wokeness%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1702729&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Nineteen state attorneys general launched an investigation on Wednesday morning into six major <a href=\"http:\/\/dailywire.com\/topic\/banks\" target=\"_blank\" rel=\"noopener\">banks<\/a> and their involvement with the environment, social, and governance investing movement, also known as <a href=\"http:\/\/dailywire.com\/topic\/esg\" target=\"_blank\" rel=\"noopener\">ESG<\/a>.<\/p>\n<p>Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo were served with civil investigative demands requesting information related to the institutions\u2019 involvement with Net-Zero Banking Alliance, a <a href=\"https:\/\/www.unepfi.org\/net-zero-banking\/\" target=\"_blank\" rel=\"noopener\">project<\/a> of the <a href=\"http:\/\/dailywire.com\/topic\/united-nations\" target=\"_blank\" rel=\"noopener\">United Nations<\/a> which seeks to unify bank portfolios toward the goal of eliminating carbon emissions by 2050. The officials contend that such objectives place the economic wellbeing of their constituents at risk.<\/p>\n<p>\u201cThe Net-Zero Banking Alliance is a massive worldwide agreement by major banking institutions, overseen by the UN, to starve companies engaged in fossil fuel-related activities of credit on national and international markets,\u201d Missouri State Attorney General Eric Schmitt said in a statement provided to The Daily Wire, arguing that oil companies and farmers are particularly exposed to risk from the agenda.<\/p>\n<p>The attorneys general requested that the financial institutions provide a list of \u201cdivisions, groups, offices, or business segments\u201d with operations related to the Net-Zero Banking Alliance and a description of how emissions goals are incorporated into operations, as well as a list of other global climate initiatives with which the institutions are affiliated.<\/p>\n<p>JPMorgan Chase, the largest bank in the United States, has <a href=\"https:\/\/www.jpmorganchase.com\/news-stories\/a-more-sustainable-future\" target=\"_blank\" rel=\"noopener\">devoted<\/a> more than $2.5 trillion over the course of the next decade to \u201cadvance long-term solutions that address climate change and contribute to sustainable development\u201d in accordance with meeting worldwide emissions goals by 2050. Goldman Sachs likewise <a href=\"https:\/\/www.goldmansachs.com\/accelerating-transition\/accelerating-transition-report.pdf\" target=\"_blank\" rel=\"noopener\">vows<\/a> to \u201caccelerate the transition to a low-carbon economy\u201d and has prioritized sustainability across its business units.<\/p>\n<p>\u201cWe are leading a coalition investigating banks for ceding authority to the UN, which will only result in the killing of American companies that don\u2019t subscribe to the woke, climate agenda,\u201d Schmitt continued. \u201cThese banks are accountable to American laws \u2014 we don\u2019t let international bodies set the standards for our businesses.\u201d<\/p>\n<p>Multiple conservative states have already <a href=\"https:\/\/www.dailywire.com\/news\/missouri-is-the-latest-state-to-divest-from-blackrock-pulls-500-million-in-pension-funds\" target=\"_blank\" rel=\"noopener\">divested<\/a> from entities supporting ESG, arguing that the philosophy conflicts with fiduciary duties by the mingling of profitability with social activism. Missouri, South Carolina, and Louisiana have pulled well over $1 billion from asset management company BlackRock, which has taken \u201cvoting action on climate issues\u201d against dozens of portfolio companies.<\/p>\n<p>ESG investment appears to conflict with the expectations of most American investors, who expect companies to prioritize their business operations over any secondary agendas favored by executives. An <a href=\"https:\/\/www.dailywire.com\/news\/behind-the-scenes-most-executives-actually-hate-woke-investing-survey\" target=\"_blank\" rel=\"noopener\">exclusive poll<\/a> from The Daily Wire showed that American investors would prefer that companies commit solely to the pursuit of profits, with 58% of respondents agreeing that companies leveraging their power for political or social ends is a \u201cbad thing.\u201d<\/p>\n<p>\u201cStates are holding big banks accountable for obvious violations and for peddling highly questionable climate initiatives under the label of ESG \u2014 all part of a coordinated effort to handicap American energy at the expense of consumers,\u201d Consumers\u2019 Research Executive Director Will Hild said in a statement provided to The Daily Wire. \u201cThese banks cannot be allowed to continue to promote a progressive agenda that prioritizes political activism over delivering for their hardworking American customers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nineteen state attorneys general launched an investigation on Wednesday morning into six major banks and their involvement with the environment, social, and governance investing movement, also known as ESG. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo were served with civil investigative demands requesting information related to the institutions\u2019 involvement &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1890518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1702729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1702729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1702729"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1702729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1890518"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1702729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1702729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1702729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}