Missouri Attorney General Eric Schmitt (R) on Wednesday announced he is leading a coalition of 19 states in a probe of six major banks over environmental, social and governance (ESG) investing policies and involvement with the United Nations’ Net-Zero Banking Alliance.
The states are investigating Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo, all of which are Net-Zero Banking Alliance members and are required to set emissions reductions targets to net zero by 2050.
The six banks were served with civil investigative demands, similar to a subpoena, for information about their involvement with the UN and their environmental, social and governance practices.
While five states cannot be named due to state laws or confidentiality regulations, other states involved in the probe include Arkansas, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, Tennessee, Texas and Virginia.
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