State Agriculture Officials Fear That Wall Street’s Net Zero Pledges Will Hurt America’s Farmers

Agriculture commissioners from 12 states have issued a letter to Wall Street’s largest banks, demanding answers about their pledges to achieve the United Nations’ net-zero goals, and what effect this will have on farm loans and America’s ability to feed itself. The Jan. 29 letter cites the banks’ membership in the U.N. Net-Zero Banking Alliance (NZBA) and the coinciding pledge that the loans they make will “align with pathways to net-zero by mid-century or sooner.” The alliance further commits members to ensure that they and their customers track and disclose their greenhouse gas (GHG) emissions. “Implementing these commitments would have severe consequences for American farmers—including cutting America’s beef and livestock consumption in half,” state agriculture officers wrote. ...