NORTH DAKOTA (KXNET) — Our investigation into the North Dakota State Investment Board takes us all the way to the United Nations.
That’s where a group of banks and money managers — including those hired by our own State Investment Board — are working to eliminate carbon emissions in the name of climate change
The group is called the Net-Zero Banking Alliance and it is a part of a United Nations-backed global campaign to effectively phase-out fossil fuels.
But this group is now under investigation by the attorneys general in 19 states for, among other things, allowing an international body like the U.N. to set lending and investing policies for U.S. businesses, including businesses here in North Dakota.
Two months ago, we reported that our State Investment Board has hired a number of Wall Street banks and money managers who are openly opposed to fossil fuels, and who are urging investors to divest from the fossil fuel industry.
Some of these firms — like Goldman Sachs, JP Morgan Chase, and Wells Fargo — who are currently working for our State Investment Board — are members of the Net-Zero Banking Alliance that is now under investigation by 19 attorneys general.
We have reached out to Attorney General Drew Wrigley and members of the State Investment Board to find out if North Dakota is part of this 19-state investigation being led by Missouri Attorney General Eric Schmidt.
14 of the state’s attorney generals have publicly announced their participation, while five states remain confidential.
Is North Dakota one of the five states?
North Dakota would be greatly impacted if the Net-Zero Banking Alliance is successful in starving fossil fuel production from getting loans and investments.
Last week in a press release, Missouri Attorney General Eric Schmidt stated:
“We are leading a coalition investigating banks for ceding authority to the U.N., which will only result in the killing of American companies that don’t subscribe to the woke, climate agenda. These banks are accountable to American laws – we don’t let international bodies set the standards for our businesses,” said MS Attorney General Eric Schmidt.
At the time of this publication, we have heard back from two State Investment Board Members.
North Dakota Lands Trust Commissioner Joe Heringer says he does not support the UNs’ Net-Zero Banking Alliance.
In an email to KX News’ Josh Meny, Heringer wrote:
“I do not support the United Nations’ Net-Zero Banking Alliance, nor any other efforts by banking/financial institutions to achieve social or political agendas through financial coercion,” wrote ND Lands Trust Commissioner Joe Heringer.
But, the bigger question is will Attorney General Drew Wrigley and State Investment Board take action on this issue that impacts an industry that provides thousands of jobs for North Dakotans and millions of tax dollars?
KX News will continue closely covering this story, and update you on our communications with SIB and AG’s office.