Banks and Financial Institutions are Jumping Ship

Banks and financial institutions are jumping ship from Carney’s climate organization Glasgow Financial Alliance for Net Zero (GFANZ) all at once. Wonder why?

There was a US House of Representatives Judiciary Committee investigation into the Carney/Bloomberg banking climate coalition.

Their interim report titled “Climate Control: Decarbonization Collusion in Environmental, Social, and Governance (ESG) Investing” was released June 11.
judiciary.house.gov/sites/evo-subs…A short thread 🧵

Committee members, as part of their study, conducted interviews Carney and former U.S. SEC Chair Mary Schapiro three days prior on June 7.

Carney is mentioned 7 times in the linked report. Reuters reporting on it at the time states:

“No antitrust lawsuit has so far been brought against any climate coalition of companies. Yet fear of being accused of colluding has driven some financial firms out of such coalitions or has pushed them to reduce their level of co-ordination” 2/reuters.com/sustainability…

But given that this week, Republicans will control congress and the presidency, Banks fear that Republican senators will commence anti-trust legal action against Carney’s former organization for attempting to form what some call a “Climate Cartel.” Lawmakers allege Caney’s group uses coercion to force financial institutions to stop funding resource based projects and limit investment in areas that might increase carbon emissions…