Goldman Sachs quits global climate coalition for banks

[rangerrebew]

Goldman Sachs quits global climate coalition for banks

By Simon Jessop and Virginia Furness
December 6, 202410:50 AM ESTUpdated 5 days ago
 
Biggest bank to leave the Net-Zero Banking Alliance
 
LONDON, Dec 6 (Reuters) - Goldman Sachs (GS.N), opens new tab said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, becoming the most high-profile member to leave the group.

The U.S. investment bank's decision comes against a backdrop of pressure from some Republican politicians who have suggested that membership of the Net-Zero Banking Alliance (NZBA) could breach anti-trust rules.
 
Goldman Sachs gave no explicit reason for its departure, but focused on its strategy for the future and a growing push by regulators to make sustainability efforts mandatory.
"We have the capabilities to achieve our goals and to support the sustainability objectives of our clients. Goldman Sachs is also very focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world," it said in a statement on Friday.

https://www.reuters.com/sustainability/sustainable-finance-reporting/goldman-sachs-quits-global-climate-coalition-banks-2024-12-06/

[rangerrebew]

It seems a lot of banks and businesses who "supported" the green agenda the day before the presidential election, are suddenly bailing.  You don't suppose the Biden administration had "pressured" (extorted) them with some kind of lawfare, do you.?  You know, threatened investigations if they didn't cooperate?