At the same time we are seeing the implosion of the ESG grift on a broad scale – including fund managers admitting it leads to poor returns and “climate-based” ETFs closing up – Bank of America is now doubling back on statements it once made about no longer investing in new coal mines.

The bank had won the favor of climate activists about two years ago, a report from the NY Times this weekend wrote, for saying it wouldn’t finance new coal mines or coal burning power plants.

Now, the bank has backtracked and said such projects would simply be subjected to “enhanced due diligence”.