19 State AGs Probe Banks Over Lefty ESG Policies

NEW YORK, NEW YORK - JUNE 10: A Wells Fargo Bank is seen on June 10, 2022 in New York City. Federal prosecutors in Manhattan have opened up a criminal investigation into Wells Fargo to determine whether the bank’s hiring practices broke the law after a New York Times investigation uncovered the bank was conducting interviews with women and people of color for available positions where the hiring had already been made. (Photo by Michael M. Santiago/Getty Images)

At a glance

  • Missouri Attorney General Eric Schmitt (R) on Wednesday announced he is leading a coalition of 19 states in a probe of six major banks over environmental, social and governance (ESG) investing policies and involvement with the United Nations’ Net-Zero Banking Alliance.
  • The states are investigating Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo, all of which are Net-Zero Banking Alliance members and are required to set emissions reductions targets to net zero by 2050.
  • “We are leading a coalition investigating banks for ceding authority to the U.N., which will only result in the killing of American companies that don’t subscribe to the woke, climate agenda,” Schmitt said.

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