Recently, I expressed my concerns to the CEOs of Bank of America, Citigroup Inc., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Wells Fargo & Company, and Morgan Stanley regarding their banks’ recent commitment to the United Nations Net-Zero Banking Alliance (NZBA).
The NZBA is a group of global banks who are committed to transition the economy to net-zero greenhouse gas emissions by 2050. The commitment these banks have made is extremely concerning as it could negatively impact the agriculture industry by requiring farmers and ranchers who borrow from these banks to alter their operations to reduce their greenhouse gas emissions. Potential implications could include the switching of machinery, altering of irrigation systems, and, overall, drastically reducing beef and livestock consumption across America.
I am a firm believer that our nation’s farmers should not be subjected to the political demands of an unelected international organization. Agriculture is one of the three pillars of Florida’s economy. Farmers and ranchers all over Florida grow and raise the food that ends up on kitchen tables around the world. This vital work supports jobs, provides families with financial security, and fosters resilient communities. We should be focusing on policies that foster responsible growth of the agriculture industry, not policies that will shutter it.
Congressman Daniel Webster represents The Villages in the U.S. House of Representatives.
