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What ESG policy changes will the US federal government make affecting banks by end of 2025?
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Resolution / Starting Odds
Stricter ESG regulations • 25%
Relaxed ESG regulations • 25%
No change in ESG policies • 25%
Other policy changes • 25%
Official announcements or publications from the US federal government
Story
Wells Fargo Exits Net-Zero Banking Alliance Following Pressure from Texas AG Paxton
Dec 20, 2024, 03:44 PM
Wells Fargo & Co. has announced its withdrawal from the Net-Zero Banking Alliance (NZBA), the world's largest climate alliance for banks. This move marks the latest in a series of high-profile exits from climate-focused groups by Wall Street firms, amid increasing political pressure. The decision follows a review by Texas Attorney General Ken Paxton, who had encouraged Wells Fargo to leave the NZBA due to its environmental, social, and governance (ESG) commitments, which he deemed unlawful. The withdrawal comes after similar actions by other major financial institutions, including Goldman Sachs, as they navigate the shifting landscape of ESG initiatives. Additionally, support for ESG investing is reportedly dwindling, with multiple blue-chip companies dropping ESG terms from their loans.
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Loosening regulations • 25%
Unclear outcome • 25%
No change • 25%
Tightening regulations • 25%
Rejoin NGFS • 25%
No significant policy shift • 25%
Enhance internal climate risk measures • 25%
Launch new coalition • 25%
Oklahoma • 25%
Florida • 25%
Other • 25%
Alabama • 25%
Other climate-related initiative • 25%
Rejoin NGFS • 25%
Introduce new climate risk regulations • 25%
No new climate-related policies • 25%
CFPB abolished • 25%
Both abolished • 25%
FDIC abolished • 25%
Neither abolished • 25%
Maintain current ESG ratings • 25%
Strengthen ESG ratings • 25%
Weaken ESG ratings • 25%
Other actions • 25%
Increase by more than 10% • 25%
No significant change • 25%
Decrease • 25%
Increase by less than 10% • 25%
Increased transparency measures • 25%
Tightened reporting standards • 25%
No change in policies • 25%
Other changes • 25%
Yes • 50%
No • 50%
Other • 25%
More Aggressive • 25%
Less Aggressive • 25%
No Change • 25%
Legislation passed in House only • 25%
No legislation introduced • 25%
Legislation passed in both House and Senate • 25%
Legislation introduced but not passed • 25%
Other • 25%
Capital requirements for large banks • 25%
Stablecoin regulations • 25%
Cryptocurrency regulations • 25%