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Net Zero Banking Alliance

All articles tagged with #net zero banking alliance

financeenvironment1 year ago•2 min saved

Bank of America's Reversal on Coal Financing Pledge Sparks Controversy

Bank of America appears to backtrack on its 2021 pledge to not finance new coal projects, as its 2023 "Environmental and Social Risk Policy Framework" now includes "enhanced due diligence" for such projects. This change aligns with conservative backlash against environmental considerations in business, with some states passing laws to prevent banks from refusing to finance coal projects. A coalition of 12 Republican state agriculture commissioners has also raised concerns about banks' involvement in the Net-Zero Banking Alliance, warning of potential negative economic consequences.

via Fox Business|

#bank-of-america #coal-projects #environmental-policy

politics-and-business1 year ago•4 min saved

"State GOP Agriculture Commissioners Launch Probe of US Banks Over ESG Investing"

A coalition of 12 Republican state agriculture commissioners are investigating six large U.S. banks over their involvement in the Net-Zero Banking Alliance, expressing concerns that the banks' net-zero commitments could negatively impact American farmers, food availability, and consumer prices. The officials argue that the banks' climate initiatives may lead to impractical and costly changes in farming operations, potentially endangering the country's food security. They have requested information from the banks and are pushing back against what they see as a threat to American agriculture posed by the ESG movement.

via Fox Business|

#american-agriculture #climate-action #esg-investing