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Editorial: El País

  • Major US financial firms are backing away from environmental commitments in response to Republican Party pressure.
  • They distance themselves from Climate Action 100+, the largest investor collective seeking to reduce polluting emissions.
  • Companies justify their distancing saying that law compels them to seek their clients' financial interest, fearing legal issues.
  • Hostility towards environmental, social, and governance investment criteria (ESG) can politically penalize companies, leading to 'green hushing'.
  • The commitment to climatic cause is questioned as big firms shy away from concrete measures.
  • European firms lack Wall Street's financial clout and its ability to influence polluting companies.
  • Sustainability might go underground in the US with a potential Trump victory in the elections.

Conclusion: Sustainable investment faces strong challenges in the United States due to political and legal pressures, threatening climate commitments and the fight against climate change.