Wells Fargo has joined an expanding list of corporate banks to exit the Net-Zero Banking Alliance and their climate initiatives, Bloomberg first reported on Friday.
The company had previously embraced the theatrics of distancing themselves from the fossil fuel industry and manipulating net-zero standards into their business practices. Banks have begun to dial back their antipathy to oil and gas production as more state and federal GOP officials have taken note.
“The alliance prefers not to see any bank leave but respects the decision Wells Fargo has made based on its own individual circumstances,” an NZBA spokesperson said.
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