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Wall Street’s Climate Retreat Sparks Congressional Backlash

More than 40 Democratic lawmakers are demanding answers from 12 of the U.S.’s largest banks and asset managers after their mass exit from global climate alliances. Accusing them of bowing to political pressure, legislators are questioning whether these firms remain committed to their own net-zero goals—and warning that abandoning climate commitments doesn’t eliminate financial risk, but deepens exposure to it.