Bankers now abandoning Net Zero too
By Jo Nova
Banks are not only fleeing from the Net-Zero Bankers club, now they are abandoning their own Net Zero targets too, and in dumping them, we find out they never meant a damn thing anyway. It’s the complete disassembly of a plastic onion, every layer just a fake as the layer before.
But none of these news or investor outlets is even asking the right questions — why did anyone think banks wanted to save the world? How did it ever make sense to pretend that banking institutions were going to turn themselves into Global Angels, fixing the weather, harrassing their clients to switch to paper bags, and turning down loans for coal miners?
It’s all unravelling now: Wells Fargo is the first major US bank to abandon its own Net Zero Target for both 2030 and 2050. And why would they do that? Probably because Tennessee and 17 other Republican States were investigating them for fiduciary duty and cartel type behaviour. Wells Fargo abandoned its targets a few weeks ago, and today The US Republican state consortium abandoned their investigation” of Wells Fargo. They’re still investigating other bankers.
“Attorney General Jonathan Skrmetti of Tennessee said in a statement on Thursday that he commended Well Fargo’s decision to step away from “utopian” policymaking.” — Bloomberg
The Responsible Investor (poor thing) says Wells Fargo is the first major US bank to abandon its commitment to the uber fashionable Net Zero target. But Mika Morse laments, it was a big nothing-burger all along. The banks just assumed that they’d get to Net Zero because the whole economy would.
The bankers were just coming along for a free ride:
https://joannenova.com.au/2025/03/bankers-now-abandoning-net-zero-too/?utm_source=rss&utm_medium=rss&utm_campaign=bankers-now-abandoning-net-zero-too
