Financial Giants Pull $14 Trillion From Climate Group That Pressures Companies To Take ‘Action On Climate Change’ | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Leif Le Mahieu.

    Financial giants JPMorgan and State Street announced this week that they were leaving the Climate Action 100+ organization, an investors group that pushes ESG initiatives and controls about $68 trillion in assets.

    Black Rock, the world's largest asset manager, also announced that it would be pulling some investment away from Climate Action, meaning that the total investment value lost by the group is around $14 trillion. The moves were praised by Republicans, who have said that companies engaging in ESG initiatives harm the economy and use customers' money for political purposes.

    State Street said Climate Action 100+ requirements were no longer in line with company policy. "SSGA has concluded the enhanced Climate Action 100+ phase 2 requirements for signatories are not consistent with our independent approach to proxy voting and portfolio company engagement," State Street told The Financial Times.

    JPMorgan said that it was making the move because it doesn't have to rely on Climate Action 100+ anymore. "Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined that it will no longer participate in Climate Action 100+ engagements," the group said.

    Climate Action, formed in 2017, says that it has over 700 investors who engage "companies on improving climate change governance, cutting emissions and strengthening climate-related financial disclosure" and pushing the world's biggest companies "take necessary action on climate change."


    House Judiciary Chair Jim Jordan praised the news and urged Black Rock to disengage from Climate Action. "Today's decisions by JPMorgan and State Street are big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions."

    West Virginia State Treasurer Riley Moore, a frequent critic of ESG policies, also praised the decision from JPMorgan and State Street. Moore previously cut ties with Black Rock over their policies toward coal and natural gas.

    "This is a step in the right direction and significant victory in our states' fight against the international corporate collusion targeting the coal, oil and natural gas industries," Treasurer Moore said. "West Virginia and our coalition of states have been fighting for years against these efforts to boycott and curtail capital to our critical energy industries and diminish important economic activity and revenue for our states. This is a sign our efforts are making an impact."

    A coalition of Republican attorneys general previously wrote to financial asset managers about their involvement with Climate Action warning them about using American's savings to "push political goals."

poll#178

Considering the current overwhelming obstacles inflicting stress upon America's working class: rampant inflation; energy insecurity; supply chain turmoil; banking failures; foreign policy disasters; government corruption; (DEI) Diversity Equity Inclusion narrative, with WOKE extremes practiced; Climate Change ideology; intractable crime wave in Leftist cities; wide open border by executive design; a permanently discredited Legacy Media; failed or failing education industry, just to name a few of the many: Who should Americans blame?

  Donald J. Trump

  Joseph R. Biden

  Leftist controlled Congress for the last 4 years.

  Bloated, incompetent bureaucracy weaponized and poorly managed

  The electorate, US, for putting these fools in elected office that utterly fail

278 total vote(s)     What's your Opinion?

poll#206

In stripping away the heavy varnish of fakery by the heavy handed Corrupt Corporate Media; in taking a true view of what is real, right now with clear open eyes: How do you see this 46th President of these States United; what is your visceral first impression of Joe Biden after nearly 3 years on the job?

  A good man, wise and kind

  The Socialist President

  A president in praise of his son

  The Non Patriot President

  A successful president

  The Idiot President

  A knowledgeable president

  A corrupt president

  A perfect leader of the Democratic Socialist party

  The man is married to a "Doctor"

608 total vote(s)     What's your Opinion?

poll#201

Considering what real news is available for all to witness, and in great specificity, should one pursue what is true outside of the channeled realm of the corrupt corporate /legacy media, and: Is Institutionalized Corruption real, and is it a hindrance to sustaining our Constitutional Republic now, and for future generations of American citizens?

  Yes

  No

  Not sure

450 total vote(s)     What's your Opinion?

poll#170

Considering what has happened to our Representative Republic since the corruptive orthodoxy that led to the tolerated abomination - The Russia Hoax - where felonies were perpetrated upon the American People by the creation of the Two Tiered Justice System, in the misnomer of "Social Justice:" Where do you stand on sustaining our constitutionally guaranteed freedoms in a society where injustice is chronically sanctioned by one political orthodoxy?

  I believe in a perfected society by employing a higher governmental authority to train the behavior of the public.

  The United States Constitution does not allow just a few freedoms, it guarantees ALL freedoms promised to Humankind by God.

  Just don't take away my Social Media.

421 total vote(s)     What's your Opinion?