Six large US banks under investigation for “green” investment policies. The US does not allow itself to be destroyed by extremists
Last week, a coalition of 19 state attorneys general from across the US launched a formal investigation into six large US banks, citing legal concerns about "ESG", "Green" and "Socially sound" investments by banks and their involvement. in a United Nations alliance that fights CO2 emissions.
Banks "appear to be colluding with the United Nations to destroy American companies" and undermine the nation's interests, one of the prosecutors warned in an e-mailed statement to The Epoch Times.
Another prosecutor argued that these UN-inspired banking policies result in jobs being sent to Communist China, where the regime continues to build coal-fired power plants to ensure reliable, low-cost energy.
The new survey is the latest salvo from Republican-led states in a context of growing national concern over the high-cost policies of financial institutions and other powerful commercial interests.
Various attorneys general who spoke to The Epoch Times about the investigation said their job is to enforce consumer protection laws and protect citizens of their states from potentially illegal business activity.
Specifically, officials are investigating banks' involvement in the controversial United Nations Net-Zero Banking Alliance (NZBA). The global network of banks, convened and supervised by the United Nations, is committed to eliminating emissions of so-called "greenhouse gases" by 2050 by transforming their lending and investment practices.
Numerous solicitors have sounded the alarm that the United Nations is involved in targeting major American industries, as banks surrender their political influence to the global organization.
Senior law enforcement officials from the Republican-majority group of states said they had reason to believe that the banks under investigation agreed to align their investments and loan portfolios with the United Nations' emissions.
The goals, outlined in the United Nations Paris Agreement on climate change, require a transformation of the economy that moves away from traditional energy sources. Government and business leaders from developed countries, including the United States and Western Europe, have agreed to pursue significant CO2 reductions.
The effect of these policies, judicial authorities have warned, would be to deprive key industries of credit, particularly companies in the energy and agriculture sectors that are critical to prosperity and even national security of states. United.
Bank of America, Wells Fargo, Morgan Stanley, JPMorgan Chase, Goldman Sachs and Citigroup are among the banks subject to scrutiny by the respective state legislatures.
Last week, all companies were notified of requests for civil investigations, which essentially serve as subpoenas, asking them to turn over documents relating to their involvement in the NZBA.
Banks are also required to provide documents relating to all “Global Climate Initiatives” in which they participate and how these UN-supported programs are incorporated into their operations, as evidenced by civilian investigative requests reviewed by The Epoch Times.
In addition, banks are asked to provide details on the involvement of their CEOs in the process and how decisions were made.
Bank shares related to “environmental, social and governance” (ESG) investments are also under scrutiny. These controversial metrics take environmental and social policies into account in making business decisions, rather than traditional risk and reward metrics.
According to critics, ESG investments are used to force unpopular and economically harmful ideas on Americans, forcing businesses across the economy to adopt them. The term is increasingly linked by opponents to a "woke" mentality, ideas of "social justice" and radical left politics.
Recall that in the US the prosecutors are elected by the people they answer to. This means that they do not answer, as in Europe, to an external non-elected body, but directly to the citizens. This makes them truly sensitive to the economic and political repercussions of “green” policies imposed from above. Now they go to the banks to ask for an account….
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The article Six big US banks under investigation for "green" investment policies. The USA does not allow itself to be destroyed by extremists comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/sei-grandi-banche-usa-sotto-inchiesta-per-le-politiche-di-investimentoverdi-gli-usa-non-si-lasciano-distruggere-dagli-estremisti/ on Sun, 30 Oct 2022 06:00:11 +0000.