Attorneys-general from 19 states are investigating six major American banks that have signed on to the United Nations’ Net-Zero Banking Alliance, pledging to achieve net-zero emissions in their lending and investment portfolios by 2050.
The banks under investigation include Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, and Wells Fargo, Missouri Attorney General Eric Schmitt announced.
“The Net-Zero Banking Alliance is a massive worldwide agreement by major banking institutions, overseen by the U.N., to starve companies engaged in fossil fuel-related activities of credit on national and international markets, said Missouri farmers, oil leasing companies, and other businesses that are vital to Missouri’s and America’s economy will be unable to get a loan because of this alliance,” said Missouri Attorney General Eric Schmitt, who is leading the probe.
