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wells fargo withdrawal from sustainability goals sparks mixed reactions from leaders

Alabama Attorney General Steve Marshall praised Wells Fargo's decision to withdraw from its sustainability goals under the Net-Zero Banking Alliance, viewing it as a victory against environmental social governance policies. This move exempts Wells Fargo from an 18-state investigation into potential antitrust violations related to net-zero emissions policies, while other major banks that left the alliance have not publicly disavowed its targets. In contrast, Investor Advocates for Social Justice criticized the decision as a setback in the fight against climate change, emphasizing the need for financial institutions to take responsibility for their environmental impact.
Alabama Political Reporter
United States Dollar Morgan Stanley The Goldman Sachs Group Inc Bank of America Corporation Wells Fargo & Company Citigroup Inc. USA Joe Biden Steve Marshall Show more
Regulatory & Legal, Press Release
13:44 31.03.2025

investigation concludes into wells fargo's withdrawal from esg policies

Alabama Attorney General Steve Marshall, along with a coalition of 17 states, has concluded an investigation into Wells Fargo's ESG policies after the bank withdrew from the Net-Zero Banking Alliance. The inquiry examined potential antitrust violations related to the banks' commitments to net-zero emissions by 2050 and interim targets for carbon-intensive industries by 2030. Marshall criticized the influence of global elites on financial institutions, asserting that their actions could undermine fiduciary duties to customers. The coalition will continue investigating the remaining banks involved.
Calhoun Journal
United States Dollar Morgan Stanley Wells Fargo & Company Bank of America Corporation The Goldman Sachs Group, Inc. JPMorgan Chase & Co. Citigroup Inc. USA Steve Marshall Show more
Regulatory & Legal, Press Release
19:42 29.03.2025
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