BlackRock announced on Thursday that it is leaving the Net-Zero Banking Alliance. The asset management behemoth becomes the latest U.S. megacorporation to leave the ESG climate narrative coalition after President-elect Trump defeated Kamala Harris on Election Day.
The move follows the departure of the six biggest U.S. banks—Goldman Sachs, Wells Fargo, Citi, Bank of America, Morgan Stanley, and JP Morgan—from the group after Election Day.
Charles Gasparino of the New York Post, who first broke the BlackRock news, remarked on X that it represents a “massive blow to the ESG investing movement.”
The Net Zero Banking Alliance (NZBA) was established in April 2021, at the height of Covid hysteria, under the auspices of the United Nations. Initially, the NZBA attracted 43 major global banks, representing a significant portion of the world’s banking assets.
Hellbound and Down 