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Goldman Sachs CEO Disappointed with Trump’s Decision Regarding Paris Climate Pact.
Lloyd Blankfein, CEO of Goldman Sachs, used Twitter for the first time this Thursday to criticize President Donald Trump’s recent decision to back out of the Paris climate pact.
In the tweet, Blankfein stated that, “Today’s decision is a setback for the environment and for the U.S.’s leadership position in the world. #ParisAgreement.”
However, this is not the first time the CEO has publicly disagreed with Trump. The Wall Street exec was openly in opposition of Trump’s highly controversial travel ban, which attempted to ban refugees and immigrants from many mostly Muslim countries from entering the U.S. He also voiced his support for Democratic candidate Hillary Clinton in the 2016 election.
Yet, the White House still has several connections to Goldman Sachs. Treasury Secretary, Steven Mnuchin, worked for the bank for 17 years prior to taking his current position. The American banker, film producer, and hedge fund manager was nominated for the position by President Elect Donald Trump on November 30th, 2016. The bank’s former executive director, Gary Cohn, also left his position at Goldman Sachs to become Trump’s chief economic advisor and Director of the National Economic Council.
In his annual letter to shareholders, Blankfein said that Goldman, “encourages our people to contribute to government service if they are fortunate enough to enough to be asked.”
Democratic senator Elizabeth Ann Warren, went as far as to question whether or not the bank has drafted executive orders signed by POTUS, which potentially could have included one that rolled back some Wall Street oversight rules, however, Goldman has denied any involvement.
Trump’s decision to drop out of the Paris climate accord has been met with much opposition and disapproval in the private sector. Elon Musk, CEO of Tesla, has chosen to drop out of two presidential advisory councils in order to protest the movement. Marc Benioff, Salesforce chief and Jeff Immelt, CEO of General Electric both claimed that they were disappointed in Trump’s decision.
Several large companies urged Trump not to back out of the Treaty, including Google, Apple, Nike, Gap, Adidas, ExxonMobil, and Chevron.
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