Bank of America has walked back its pledge to comply with the globalist green agenda by cutting off the fossil fuel industry.
In December 2021, the bank committed to stopping its direct financing of new coal-fired power plants, thermal coal mines, and arctic drilling.
However, the financial services company appears to be reversing course on its pledge to “save the planet” from “climate change,” the New York Times is reporting.
The bank originally stated that it would stop financing the fossil fuel industry in order to comply with the World Economic Forum-led “environmental, social, and corporate governance” (ESG) criteria and the goals of the WEF’s “Net Zero” agenda, as outlined in the Paris Climate Agreement.
In its “Environmental and Social Risk Policy Framework,” the company stated:
“By 2025, we will phase out all financing (including facilitating capital markets transactions and advising on mergers and acquisitions) of companies deriving ≥ 25% of their revenue from thermal coal mining, unless the company has a public commitment to align its business (across Scope 1, 2 and 3 emissions) with the goals of the Paris Climate Agreement and the transaction would be facilitating the diversification of the company’s business away from thermal coal.”
“We will