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Bummer: Wall Street Firms Pulling Out Of Climate Crisis (scam) Pledges

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Yeah, they made a lot of pledges initially, but, were they really serious, or simply placating the cultists?

Wall Street giants like JPMorgan and Pimco are walking back their environmental pledges after years of outspoken support for fighting climate change

Some Wall Street giants, many of which have spent the last few years pledging to fight climate change through corporate responsibility, are now retreating from some of their environmental initiatives.

Large financial institutions including investment bank JPMorgan, asset manager State Street, and investment management firm Pimco have in the last few days pulled out of Climate Action 100+, a group of hundreds of institutional investors that collectively push large companies to address climate issues.

The departures are a stark change for finance firms that have previously spent years working to improve their public images by loudly championing the fight against climate crisis, The New York Times reported.

Indeed, big banks and asset managers previously built up teams in a bet that environmental, social, and governance (ESG) investing was a good bet — both morally and economically.

Yeah, that was fun for a while for them, but, then they came back to reality and realized their purpose was to make money

In recent months, however, many financial intuitions have come under more fire from Republicans criticizing their climate work, framing it and other ESG initiatives as “woke capitalism,” Politico reported. Regulators, meanwhile, have begun looking more closely at firms offering ESG products.

Other concerns included that clients may disapprove of the work and sue, or that this many large companies working together to pressure change in other companies could fly in the face of antitrust regulations, the New York Times said.

Doing the ESG thing sounds great, but, most of the high mucky-mucks in the companies rarely practice what they preach, and it is mostly BS greenwashing.

Other finance giants have similarly stepped back from previous environmentally friendly initiatives, The New York Times reported. They include BlackRock, which scaled back its participation with Climate Action 100+ in recent weeks, as well as Bank of America, which walked back a pledge to stop financing coal.

If it doesn’t help the companies make money it’s kinda worthless.

The post Bummer: Wall Street Firms Pulling Out Of Climate Crisis (scam) Pledges appeared first on Pirate’s Cove.


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    • kilroy

      Failed technologies from the 1800s dressed as new. Not green at all what so ever these technologies destroy the planet at an exponential rate. Maybe just maybe if they released the over 6000 energy patents stolen from the American people we could actually move forward. Instead we have these inbred psychopaths slow walking the tech and nickel and diming us to death, every step of the way.

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