A coalition of 19 state attorneys general from across the country launched a formal investigation into six major U.S. banks last week citing legal concerns about banks’ “ESG” investing and their involvement with a United Nations alliance fighting CO2 emissions.
The banks “appear to be colluding with the U.N. to destroy American companies” and undermine the nation’s best interests, one of the AGs warned in a statement e-mailed to The Epoch Times.
Another AG argued that these U.N.-inspired banking policies were resulting in jobs being sent to communist China as the regime there continues building coal-fired power plants to ensure low-cost, reliable energy.
The new investigation is the latest salvo by Republican-led states amid growing nationwide concerns about the “woke” policies of financial institutions and other powerful business interests.
Multiple attorneys general who spoke to The Epoch Times about the probe said it was their job to enforce consumer protection laws and protect citizens in their states from potentially illegal activity by companies.
In particular, officials are investigating the banks’ involvement in the controversial United Nations Net-Zero Banking Alliance (NZBA). The global network of banks, convened and overseen by the U.N., pledges to eliminate emissions of so-called “greenhouse gases” by 2050 by transforming their lending and investment practices.
Numerous AGs sounded the alarm about the U.N.’s involvement in targeting key American industries as banks cede policymaking influence to the global organization.
The top law-enforcement officers for the group of mostly Republican-controlled states said they have reason to believe the banks being investigated agreed to align their investing and loan portfolio with U.N. emissions goals.
The goals, outlined in the U.N. Paris Agreement on climate change, call for a transformation of the economy away from traditional energy sources. Government and business leaders in developed nations including the United States and Western Europe agreed to pursue significant reductions in CO2.
By Alex Newman