Bummer: Black Rock Quits Net Zero Asset Managers
Black Rock was one of the big-wigs in the climate cult for financial firms. Maybe they just got tired of limiting their financial returns and placating the doomsday cult?
BlackRock quits climate change group in latest green climbdown
BlackRock has become the latest financial firm to bail out of a big climate change industry group in the wake of Donald Trump’s election as US president and heightened regulatory scrutiny.
The world’s largest money manager told institutional clients in a letter on Thursday that it had quit Net Zero Asset Managers, a voluntary global group that describes itself as committed to “the goal of net zero greenhouse gas emissions by 2050 or sooner”.
Membership in NZAM had “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials”, vice-chair Philipp Hildebrand wrote, according to a copy of the letter seen by the Financial Times.
All six of the largest US banks, JPMorgan, Citigroup, Bank of America, Morgan Stanley, Wells Fargo and Goldman Sachs, have quit a similar group for banks, the Net-Zero Banking Alliance, in recent weeks.
This next part is great
“This pullout actually just shows what they said in 2020 and 2021 was just performative and marketing,” said Tracey Lewis, head of climate policy at Public Citizen, a progressive advocacy group. “Today, the truth is coming out as all these companies are trying to appease the incoming administration.”
Yes, it was. The head honchos may have bought into the cult to look good the wackos, but, things change, and they seemingly have had enough of trying to go along with the Cult of Climastrology. How much time and money did Black Rock piss away in trying to patronize the cult?
The post Bummer: Black Rock Quits Net Zero Asset Managers appeared first on Pirate’s Cove.
Source: https://www.thepiratescove.us/2025/01/10/bummer-black-rock-quits-net-zero-asset-managers/
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