It’s a win: Bankers are backing away from the Monster Banking Climate Cartel

By Jo Nova

It’s become a flood

It’s a good start to 2025 — just quietly, the money is exiting the Monster Banker Climate Cartel. Since the Trump win, the bankers are running away suddenly from the United Nations “Net-Zero Banking Alliance” (NZBA) which is a sub-part of GFANZ (the Glasgow Financial Alliance for Net Zero) — the world’s largest and richest climate activists club. GFANZ is the public face of every kind of global financial-bullying-to-save-the-world. Economically, the monster collective could eat whole nations for breakfast. At one point the collective assets-under-management were as valued at the fantastical conglomeration of $130 trillion. It is the hydra-head hissing at superannuation funds and national treasurers that don’t comply with sacred green goals. Who cares what the voters want?

The latest round of quiet banker departures started with Moody‘s and Goldman Sachs, a month ago. Only two days ago RealClear Energy took heart that ” U.S. behemoths Bank of America, Citigroup, JP Morgan, Morgan Stanley, and Wells Fargo were still in the NZBA”. But Wells Fargo quit a week ago, and under the cover of New Years Eve parties, the Bank of America, and Citigroup have jumped ship too. No one seems […]

January 2nd, 2025 | Tags: , , , | Category: Bankers, Big-Government, Global Warming | Print This Post Print This Post | |

ESG comes undone — BlackRock, JP Morgan abandon “Climate Action 100+”

Naturally the Big Bankers dress up in trees and rivers… they wouldn’t wear the Dracula Cape when people are looking, would they?

By Jo Nova

The biggest climate bullies on the planet just got a bit smaller. There are two monster climate banker clubs in the world, and yesterday, one of them, the “Climate Action 100+” lost three of the six largest asset management funds in the world, namely JP Morgan Chase, State Street and BlackRock.

State Street manages about $3.6 trillion in funds, JP Morgan Chase about $3 or $4 trillion, and BlackRock $10 trillion, so that’s something like $17,000 billion dollars that just left the ranch. The fact that this kind of money was all grouped together in a cabal of any sort is bad enough, but ponder that now, after the biggest fish have left the tank, there’s still $50 trillion left in assets on the inside.

It appears the Climate Action 100+ group had grown too big for its boots — the new Climate Action 100+ “phase 2” strategy expected asset managers to actively hound companies to cut their emissions.

An ESG Asset Manager Exodus

The Wall Street Journal

February 17th, 2024 | Tags: , , , , , | Category: Global Warming | Print This Post Print This Post | |

Winning: Antitrust laws slow down the climate plans of $130T monster cartel of UN and global bankers

by Jo Nova Banks suddenly threaten to abandon the Glasgow GFANZ “climate action” group

It was the massive miracle-funding coalition of Glasgow but it is already starting to unravel as the banks figure out that conspiring to force “climate action” puts them at risk of antitrust suits.

A month ago I wrote that 19 US States were pointing out that it’s not OK for asset managers like BlackRock and co to join together in cartels to block investment in fossil fuels. These corporations bragged about belonging to groups like GFANZ (the Glasgow Financial Alliance for Net Zero) as if it made them into saintly environmentalists. But belonging to the group meant they are also effectively restraining trade, reducing competition and acting against the interests of their clients and against the wishes of voters.

Don’t underestimate how important this is or how ugly these monster cartels are: GFANZ has attracted some 500 members which control $130 trillion in assets. But the carbon targets they are told to aim for are set by the UN through something called the Race-To-Zero campaign. So this is a quasi World Government in cahoots with world bankers. Like a Great White Shark meets a pod […]

September 23rd, 2022 | Tags: , , , | Category: Big-Government, Free markets, Global Warming, USA | Print This Post Print This Post | |