Net-Zero Banking Alliance

Net-Zero Banking Alliance

John Kerry, some sort of national climate 'envoy,' has been pressuring banks and financial institutions to reduce their commitments to U.S. oil and gas companies and join the Net-Zero Banking Alliance, which would hobble the ability of oil and gas companies to increase production. Citi, Wells Fargo, Bank of America, Morgan Stanley, Goldman Sachs, and JPMorgan Chase signed on to the alliance last year.

Who--or what--is the Net-Zero Banking Alliance? A UN organization. And heavily supported by the esteemed Prince of Wales.

This is from their website: The industry-led, UN-convened Net-Zero Banking Alliance brings together banks worldwide representing over 40% of global banking assets, which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050. Combining near-term action with accountability, this ambitious commitment sees signatory banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines.
The Alliance will reinforce, accelerate and support the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks. It recognizes the vital role of banks in supporting the global transition of the real economy to net-zero emissions.
It was co-launched on 21st April 2021 with 43 founding banks and the Prince of Wales’ Sustainable Markets Initiative Financial Services Taskforce.

'robust,science-based guidelines.' 'decarbonisation.' 'peer-learning.' 'industry-led.'

So, this is "industry-led?" And, after appropriate government pressure, US banks are withholding funding for energy exploration and development with the hopes we can develop other sources we don't have yet? We are following the whimsical notions of such giant brains as John Kerry and the Prince of Wales?

Now if I told you Trump had sponsored this project--with its obvious benefit to Putin's gas program in Europe, with its inevitable dependence on foreign energy that the formally energy-independent US would become to the obvious detriment of American consumers--do you think people would be outraged? Would they suspect a conspiracy? Treason?

Here is a truly noble project the little guy can start: Withdraw your money from these banks.