'Net-Zero' ESG banking cartel continues collapse in aftermath of Trump victory
The anti-humans pushing the climate narrative find their mission on life support.
BlackRock announced on Thursday that it is leaving the Net-Zero Banking Alliance. The asset management behemoth becomes the latest U.S. megacorporation to leave the ESG climate narrative coalition after President-elect Trump defeated Kamala Harris on Election Day.
The move follows the departure of the six biggest U.S. banks—Goldman Sachs, Wells Fargo, Citi, Bank of America, Morgan Stanley, and JP Morgan—from the group after Election Day.
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Charles Gasparino of the New York Post, who first broke the BlackRock news, remarked on X that it represents a “massive blow to the ESG investing movement.”
The Net Zero Banking Alliance (NZBA) was established in April 2021, at the height of Covid hysteria, under the auspices of the United Nations. Initially, the NZBA attracted 43 major global banks, representing a significant portion of the world's banking assets.
Members of the NZBA committed to a set of anti-human principles that included transitioning to “net-zero” emmisons, or rolling back human progress for the sake of the climate hoax narrative. The initiative was launched with the goal of aligning the banking sector's lending, investment, and capital markets activities with the objective of achieving “net-zero” greenhouse gas emissions by 2050 or sooner. They set to achieve “targets” by claiming, based on the opinions of carefully selected “climate scientists,” (think: those on the payroll of the cartel) that humanity had the ability and the resources to dial back the temperature a few degrees Fahrenheit above pre-industrial levels. Of course, what they never reveal is that such maneuvers will harm the entire world’s population for the sake of the climate narrative mafia.
The NZBA amounted to a massively powerful banking cartel that pushed a poisonous set of incentives to harm human flourishing. Not only was it insanely destructive to human progress, it represented a series of initiatives that sought to undermine economic freedom and national sovereignty. This “global governance” aspect of the agenda put American banks at odds with the interests of their American customers and partners. Extreme ideological U.N. environmental policy was essentially dictating domestic banking practices.
It served as an ideological imposition on the financial sector. The NZBA sought to distort the free market, by committing banks to following specific ideological goals, forcing financial institutions to prioritize political objectives over economic reality. Capital was consistently being misallocated towards destructive but "greener" projects, and we will see the remnants of this junk for decades to come. Instead of lending based on the viability and profitability of projects, they were forcing clients and partners to meet arbitrary “environmental” (political) benchmarks. Of course, this had disastrous impolications, it stifled innovation, and destroyed growth in traditional sectors (oil, gas, etc) and companies run by non-aligned boards that were deemed not ESG friendly.
Trump’s victory has had a global domino effect. And with the NZBA collapsing, the American economy can become more free from undue government or international organizational influence set by anti-human, one-world government globalist freak show bodies like the United Nations.
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The problem with entities like BlackRock, State Street and Vanguard is that they are pension management companies. Through the pension plans they management, they are able to vote the shares they have under management. Thus, they are voting the shares of everyday Americans against those Americans' best interests, such as supporting destructive ideologies like ESG.
And make no mistake, they are well aware of the harm noted in this post, yet they voted for it anyway. One of the things Trump needs to address is returning voting powers to the actual shareholders, not these proxy holders with radical Left agendas.