Attorney General Todd Rokita investigates six major banks over ESG investing as part of a 20-state coalition

INDIANA – Attorney General Todd Rokita announced today that Indiana and 19 other states have served six major U.S. banks with civil investigative demands, which act as a subpoena, seeking documents related to the companies’ involvement with the United Nations (UN) Net-Zero Banking Alliance (NZBA).

NZBA-member banks must set emissions reduction targets in their lending and investment portfolios to reach net zero by 2050. The banks under investigation are Bank of America; Citigroup; Goldman Sachs; JP Morgan Chase; Morgan Stanley; and Wells Fargo.

Todd Rokita

“These banks appear to be colluding with the UN to destroy American companies that specialize in fossil fuels or otherwise depend on them for energy,” Attorney General Rokita said. “They are pushing an investment strategy designed not to maximize financial returns but to impose a leftist social and economic agenda that cannot otherwise be implemented through the ballot box.”

The apparent conspiracy among the banks represents yet another scheme reflective of so-called “ESG investing” — an approach that purports to prioritize environmental, social, and governance issues over profit.

“This new woke-ism in the financial sector poses a real threat to everyday Hoosiers,” Attorney General Rokita said. “Indiana’s farmers, truck drivers, and fuel-industry workers are hurt when the radical Left attacks whole segments of our economy. And it’s troubling that these banks in the Net-Zero Banking Alliance are taking marching orders from UN globalists all-too-eager to undermine America’s best interests.”

More information will be made available as the investigation continues.