How US banks and corporations are already bowing to Trump’s course

„Anti-Woke“-Kurs

The flight of the American financial giants from the global climate initiative goes back to the impending inauguration of the 47th US President. Even before Donald Trump is sworn in again on January 20th, corporations and banks are making an “anti-woke” U-turn. They fall in line with the ideological line of the Republicans:

Where previously green policies or the inclusion of disadvantaged groups were pushed, the trend is now going in exactly the opposite direction: the goals of the banks’ climate alliance, for example, included the decarbonization of financing portfolios, especially in emission-intensive sectors such as energy, transport and agriculture. Banks should channel more capital into sustainable projects. This includes investments in renewable energies. At the same time, the financing of companies that extract fossil fuels had to be gradually reduced.

Republican politicians have been attacking the climate-friendly banks for months: their climate activism is to blame for the decline in coal production in the USA, thereby driving up energy prices.

Out for fact checkers

A committed climate policy is now history for the major US banks that have dropped out, as is precise fact checking on the Meta Group’s platforms. On Facebook, Instagram and Co., at least in the USA, it is now possible to freely swear, insult and throw around fake news after Meta founder Mark Zuckerberg withdrew the examiners at the urging of Donald Trump – in the ostensible interest of freedom of expression.

Meta will also stop the measures for equal opportunities and diversity within its employees with immediate effect. Until now, this meant that people of different origins and genders or with disabilities had equal opportunities in the workplace. Reason: “The legal and political landscape in the USA has changed.”

McDonald’s is also following this line: the fast food chain’s initiative for equality, inclusion and diversity is being discontinued. McDonald’s also justifies this with a ruling by the Supreme Court in a case at Harvard University: There, US Asian students sued against the preferential hiring of certain minorities and were proven right.

The Disney Group is also showing anticipatory obedience to the Republicans’ anti-LGBTQ trend. The media giant announced that dialogue about a transgender character will be removed from the Pixar film “Win ​​or Lose.”