A Jan. 2 article in Canada’s Globe & Mail reports that “Several major U.S. banks have quit a global alliance to fight climate change in the final weeks before a new Trump administration prepares to take office. Morgan Stanley has decided to withdraw from the Net-Zero Banking Alliance, joining a wave of banks that recently quit the global alliance intended to slash greenhouse-gas emissions and shift to a low-carbon economy. Bank of America Corp., Citigroup Inc., Wells Fargo & Co., and Goldman Sachs Group Inc. have all exited over the past month. The banks have made the move against a backdrop of growing backlash to ESG and threats of antitrust action among Republican politicians at the federal and state levels, Jeffrey Jones reports. The climate alliance is part of the Glasgow Financial Alliance for Net Zero, which is co-chaired by former Bank of Canada and Bank of England Governor Mark Carney and founder of Bloomberg L.P. Michael R. Bloomberg.”
Already in 2021, EIR, in an editorial on Nov. 5, had reported that Carney’s utopian project would fall apart.
