In a "Huge Win," the Woke Corporate Cartel "Net Zero" Stops Operations as Corporations Back Away from Toxic Wokeness

This was the group of financial services companies using their immense power to force countries to immiserate themselves by not producing energy.

The Net Zero Asset Managers (NZAM) coalition -- a United Nations--sponsored collection of financial services companies that have pledged to negate their portfolio's greenhouse gas emissions by 2050 or sooner -- suspended activities after investment firm BlackRock announced its departure from the group, according to a press release.

BlackRock, which manages over $10 trillion and has been a leader in environmental, social and governance (ESG) investing, announced its exit from NZAM Thursday, with its vice-chair Philipp Hildebrand saying the firm's involvement in the environmental coalition "caused confusion regarding BlackRock's practices and subjected us to legal inquiries from various public officials." Now, NZAM has pressed pause altogether, halting operations while it conducts a review of its activities, an NZAM press release published Monday stated.

"Recent developments in the U.S. and different regulatory and client expectations in investors' respective jurisdictions have led to NZAM launching a review of the initiative to ensure NZAM remains fit for purpose in the new global context," NZAM reportedly wrote in the letter. "As the initiative undergoes this review, it is suspending activities to track signatory implementation and reporting. NZAM will also remove the commitment statement and list of NZAM signatories from its website, as well as their targets and related case studies, pending the outcome of the review."

A slew of other financial services had left NZAM prior to BlackRock's Thursday exit, including Goldman Sachs Group, Wells Fargo & Co., Citigroup, Bank of America, Morgan Stanley and JPMorgan Chase & Co. BlackRock's exit came amid a broader corporate strategy shift away from environmental, social and governance (ESG) investing, with the firm only supporting about 4% of the 493 environmental and social investment proposals shareholders put forward between the end of June 2023 and the end of June 2024, down from a rate of 47% in 2021.

BlackRock was a major supporter of ESG investing in years prior, with CEO Larry Fink claiming in 2020 that "climate risk is investment risk" and that climate change would lead to a "fundamental reallocation of capital."

Oh you mean Larry Fink, who's been using financial power to pressure companies and entire nations to follow the Global Socialist Movement's line?

Like an... oligarch, almost?

Alternative energy continues to dazzle.

- A fire broke out at Vistra Corp.'s Moss Landing complex in California, one of the world's biggest battery storage facilities, prompting evacuations. Local officials said a fire suppressant system failed.

Every rack of batteries at the facility has a fire suppressant system fed by an on-site system, and this system failed, Chief Joel Mendoza with the North County Fire District, said during a press briefing Friday. The county declared a local emergency.

Vistra executives acknowledged the system failure at the briefing. Pete Ziegler, who manages the facility, added, "We don't know what started this event yet."

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posted by Ace at 04:26 PM

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