On Friday, the Federal Reserve left a global climate risk group that studied climate change risk. Earlier this month, JPMorgan left the Net Zero Banking Alliance, following Goldman Sachs’s departure in December 2024. Meanwhile, BlackRock, the world’s largest asset manager, left the Net Zero Asset Managers initiative, which is focused on promoting investments aligned with net zero emissions targets.
The abandonment of green energy measures by these banks comes as major corporations are moving to gain favor with the incoming Trump administration. Meta CEO Mark Zuckerberg, scorned by Trump for his “Zuckerbucks” scheme during the 2020 presidential election, has been getting closer to Trump and announced recently that Meta was ending its fact-checking system, which conservatives often criticized for being biased against them. Zuckerberg also announced that UFC CEO Dana…
