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How Wall Street Turned Its Back on Climate Change

New York Times - WorldEN 9 min read 100% complete by David GellesJanuary 17, 2026 at 11:00 AM
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AI Summary

long article 9 min

In January 2020, Wall Street, led by BlackRock CEO Larry Fink, pledged to address climate change by reshaping finance and reducing emissions. Major financial institutions joined alliances and promoted ESG investing. However, six years later, many have retreated from these commitments. Alliances have largely dissolved, and investors have withdrawn billions from ESG funds. Despite booming clean energy investment, corporations have become less vocal about climate change. This shift coincides with a return to fossil fuel promotion under President Trump, with American banks increasing investments in coal, oil, and gas projects. The issue is further highlighted as Fink welcomes Trump to Davos, where climate concerns have been overshadowed by other global issues.

Key Entities & Roles

Key Player Opposition Context
Bloomberg 30% New York City 40% Net-Zero Banking Alliance 40% Net-Zero Asset Managers initiative 40% Davos ×250% World Economic Forum ×260% Donald Trump ×270% Wall Street ×370% BlackRock ×280% Larry Fink ×490%

Keywords

climate change 100% wall street 90% esg 80% fossil fuels 70% clean energy 70% investment 60% larry fink 50% net-zero 50% blackrock 40%

Sentiment Analysis

Very Negative
Score: -0.60

Source Transparency

Source
New York Times - World
Classification Confidence
90%

This article was automatically classified using rule-based analysis.

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climate changewall streetesgfossil fuelsclean energyinvestmentlarry finknet-zeroblackrock
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