Big American banks are pulling out of a key climate initiative

Many of the largest financial institutions in the U.S., including Bank of America and Goldman Sachs, are pulling out of a major global climate financing initiative. It comes in response to Republican backlash to ESG — environmental, social and governance — or what they consider "woke investing."

Host Scott Tong talks with Alastair Marsh, a climate finance reporter for Bloomberg, about what this means long-term.