According to reports in Bloomberg and the Telegraph, several major U.S.-based financial institutions have recently left the Net Zero Banking Alliance (NZBA). Yesterday, Morgan Stanley announced that it had pulled out, though offered no reason. This follows Citigroup and Bank of America both quitting the Alliance on Tuesday, and their exit follows Wells Fargo and Goldman Sachs, which both quit earlier in the month. Though it is mostly U.S.-based, this has altered the global context of climate politics immensely. So what has caused this ‘exodus’, and what happens next?
NZBA is a project of the United Nations Environment Programme’s (UNEP) Finance Initiative (FI), launched in 2021. It convenes figures, plucked from the financial sector, who agree to attempt to align the interests of major financial institutions towards climate outcomes. It is the fruit of financial news media tycoon Mike Bloomberg’s UN entryism, and his underling, former Governor of the Bank of England and Bank of Canada, now manager of Bloomberg’s business empire, Mark Carney. Bloomberg and Carney are respectively UN Secretary General Antonio Guterres’s Special Envoy on Climate Ambition and Solutions and Special Envoy for Climate Action and Finance.
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Just $10.4 billion net of new money found its way into ESG funds in Q3 2024 – a far cry from the $130 trillion claimed by Carney in Sunak in Glasgow.
They will tax firms and private individuals. This has already happened in New Tard State (formerly New York). U$95 billion to be raised from the climate-tard tax. If this goes through expect more of the same in other jurisdictions.
Money laundering, criminality, theft, deconstruction of our civilisation, impoverishment, all aspects of life affected and debased, worsened by open borders and scamdemics.
There is zero science to this cult, but a lot of fascism and human hatred. I imagine they are just getting warmed up.
What is increasingly clear is the extent to which Blackrock vanguard and statestreet are setting themselves up as the new world government.
A horrendous prospect. They must be stopped.
Hopefully the incoming Trump administration if allowed to take office (given the trillions of dollars at stake, anything is possible) may manage to make a start cutting them down to size.
They deserve to be cut down with that ‘racist’ name .
Only if you let them. Vote with your feet.
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To mix metaphores, it is a House of Cards, built on foundations of sand. What doesn’t change is that money men put their money where the money will do best. The expectation was that it was ‘green’ that would outperform ‘not-green’. As soon as it becomes obvious that it isn’t happening, they will come to their senses and shift their money to something else. The markets dont give a toss for whether its green or not.
“Make no mistake,” said Mark Carney at the 2021 COP26 meeting…. announcing “the money is here”.
Yes Mr Carney, but it’s not your money, it belongs to investors who have this quaint idea that when invested they should get a return on it, not see it used by those entrusted with it to self-pleasure themselves over the latest eco-loonie porn.
Carney, wasn’t he the one who said the banks would break if we implemented Brexit? He’s like some cosmic evil toaster who keeps popping up everywhere.
Carney. And George Osborne. Not a single brain cell to rub together. Started so much of this nonsense a long time ago.
Blair and Soros, April 1996 meeting is where a lot of this began.
Mark Carney will go down in history as what? Fill in the blank.
As Carney stated at one of the recent WEF get togethers ” globalization is dead”. He looked so disappointed. Carney is a huge WEF agent inserted into the Bank of England as a WEF agent. He and his wife are radical elites using the UN and the climate change scam to give themselves power. Bloomberg the billionaire, is another extremist funding a large part of the scam. Carney is now making noises He want to replace Trudeau in Canada. He would be 10 times worse than Trudeau using government money to fund their eco cult movement to take over the world. It’s all hiding in plain sight.
In the UK, “green finance” will be the taxpayers. Let’s see how dead it is in 5 years time – let’s see what cars you can buy, what subsidies are available for “green” technology, what are energy bills are, how much fracking and drilling we have done, what nuclear developments are underway, whether new homes are having gas boilers and hobs installed. If it’s “dying”, Britain looks set to die with it.
Britain’s Net Zero does have the air of “last days in the bunker” about it – refusal to accept reality… the people deserve to be destroyed for having let their führer down.
Britain is going downhill so rapidly, it will be unrecognisable in five yrs.
It is always a good plan to sell shares and avoid businesses that take part in political projects. It always signifies the management are not focussed on their jobs for shareholders.
“NZBA is a project of the United Nations Environment Programme’s (UNEP) Finance Initiative (FI), …”
The UNEP will have zero financial skills, or any skills for that matter, that are useful in the real world.
In the Vanguard tv ad one of the ‘investors’ likes them because they do the best for you, but then we know that is not true with ESG in place. I wonder what the ASA would say?
Whatever they’re told to say of course, much like the part of Ofcom in charge of censorship.
Esg, Dei? Why is britain always so far behind. CO’s are tossing these outdated myths out the window.
I complained once to ASA about false claims over smart meters “saving the polar bears”. I was told there was no case to answer, so don’t expect them to say anything.
I think we are witnessing a struggle between two groups in the world’s elite. It appears that the group who have previously been in control are now fighting back against the wokester group that have been pushing deindustrialization and enslavement of the world’s people.
It is notable how different the reception for Donald Trump has been this time, compared with last time he won the Presidency. This time he has very powerful backers, and appears to have aligned himself with the first group.
Hopefully the green scam is about to be consigned to the dustbin of history.
Yesterday, Reform held its East Midlands Conference Rally. Zia Yusuf, Reform Chairman called-out the Net Zero lunacy as the biggest scam ever perpetrated on British citizens …. the first time I have heard a senior representative of the party express it so clearly.
There will be no CONsensus on the Net Zero Scam at the next General Election.
Fingers crossed , he’s saying the right things on Green issues , however – Musk has backed T, Robi-son , Musk is tight with Donald , Donald is tight with Farage , Reform & Nigel just dissed TR again yesterday , what a cluster fu-k !!!..
All these banks understand the climate change/net zero trickery is manmade. Geoengineering, chem trails, weather manipulation, direct energy weapons. The banks understand they have no power over those performing these heinous acts.
Took them long enough, didn’t it?
“This alliance, however, was founded on deeply irrational premises.”
Blindingly obvious from the beginning. Replacing 10 cent KWh fossil fuel power with 25 cent KWh “green” power is burning wealth, not creating wealth. The hope seems to have been vested in highway robbery, which is obviously a net negative for the populace while it may make the highwayman a wealthy man.
The death of Net Zero may be due to power-hungry AI. The tech and money people obviously see this as the next engine of economic growth, and you ain’t gonna power those data centers with solar and windmills. You will need cheap, reliable nuclear, and once you have that, you don’t need any of the Net Zero power rationing bureaucracy.