Agriculture Commissioner Jonathan Shell (R) joined eleven other state agricultural commissioners in signing a letter to six of the largest banks in the country in protest of their climate guidelines which would restrict and harm agricultural businesses and farmers.
“Due to the potential impacts to agriculture, we are seeking more information regarding what appear to be troubling environmental commitments by your banks that target our farmers, ranchers, and agriculture producers, with grave consequences for consumers and that undermine the security of our food supply,” the letter read.
“Implementing these commitments would have severe consequences for American farmers—including cutting America’s beef and livestock consumption in half, switching to inefficient electric farm equipment, and moving away from the nitrogen fertilizer necessary for American agriculture to thrive,” the commissioners warned. “These changes will increase food costs and decrease food production at a time when global food demand is expected to rise dramatically.”
Shell joined commissioners from Alabama, Florida, Georgia, Iowa, Louisiana, Mississippi, North Carolina, North Dakota, South Carolina, Texas, and West Virginia, in signing the letter.
The letter was addressed to leaders of Bank of America, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, and Wells Fargo.
These six organizations are a part of the Net-Zero Banking Alliance (NZBA), an international alliance under the United Nations that is committed to “transition the real economy to net-zero greenhouse gas emissions by 2050.”
