International Bankers Run The Climate Change Industry, Science Is Irrelevant

People in the climate change movement frequently gaslight skeptics as “deniers” and “anti-science”. While they may be dismissed as ideologues, there is another angle to look at. This isn’t a grassroots organization, but one financed and supported by the banking industry. Under the guise of preventing climate change, it’s possible to further enslave humanity forcing even more debt upon them.

Side note: “Coalition of the willing” was an expression George W. Bush used to describe the illegal invasion of Iraq in 2003.

1. More On The International Banking Cartel

For more on the banking cartel, check this page. The Canadian Government, like so many others, has sold out the independence and sovereignty of its monetary system to foreign interests. BIS, like its central banks, exceed their agenda and try to influence other social agendas. See who is really controlling things, and the common lies that politicians and media figures tell. Now, the bankers work with the climate mafia and pandemic pushers to promote their mutual goals of control and debt slavery.

Also see: Part 1, Part 2, and Part 3 of the subseries.

2. International Bankers Run Climate Scam

Many believe that central banks are part of the government, but that often isn’t true. Many are private companies. These banks then “create” money out of nothing and then lend it (at interest) to the respective governments. There’s no public benefit to doing this, as the private banks become the only source that can lend money. The only way to make up a shortfall is to borrow more.

The modern climate change agenda is just another way to fleece the public. Under the pretense of “combatting climate change”, governments are subjected to rules and regulations, which cannot be fulfilled. For example, Carbon Dioxide is plant food — necessary for photosynthesis — and it cannot simply be removed from the atmosphere. However, so-called experts tell us that drastic changes are needed. Alternatively, simply pay fees (such as Carbon taxes), and all will be forgiven.

As will be shown, central banks are fully complicit in the climate hoax. The bankers fully support this, and are pushing for the narratives to be embedded into financial policies. After all, who would care about climate change if there wasn’t a lot of money to be made?

There are undeniably many well-meaning people who are against the disaster they are TOLD is happening. However, they are just being used as pawns. Vocal opponents are used to put public pressure on governments to shell out money in order to “do something”.

3. Koch-Funded Fraser Institute On Pricing

This was covered in an earlier piece. Joel Wood of the Fraser Institute gave a lecture on various climate pricing options. It was never really explained how any of this stopped climate change. Of course, Fraser isn’t a bank, but they do act as a “think tank” trying to influence public policy.

4. Climate Bonds Initiative On Central Banks

About us
Climate Bonds Initiative is an international organisation working solely to mobilise the largest capital market of all, the $100 trillion bond market, for climate change solutions
.
We promote investment in projects and assets necessary for a rapid transition to a low carbon and climate resilient economy.
.
The strategy is to develop a large and liquid Green and Climate Bonds Market that will help drive down the cost of capital for climate projects in developed and emerging markets; to grow aggregation mechanisms for fragmented sectors; and to support governments seeking to tap debt capital markets.
.
Climate Bonds Initiative is an investor-focused not-for-profit. Our work therefore is an open source public good and falls into three workstreams.

The Climate Bonds Initiative talks about climate change the way that bankers talk about credit risks. It pushes the idea that behaviour should be examined for risk, and rewarded or punished accordingly. Now, CBI has a financial stake in pushing climate bonds, which is a serious conflict of interest. CBI believes that climate bonds are an industry worth in excess of $100 trillion.

Not really about the climate, is it?

5. Bank Of Canada On Climate Change

Investment decisions are changing
More investors—from individual Canadians to big companies like those that manage pension funds—are looking at environmental factors when making investment decisions.

This shift in investor preferences can help in the move to a low-carbon economy, but investments in carbon-intensive industries may become less attractive.

Many businesses are choosing to report on their own carbon footprint and the risks they face from climate change. This transparency can help businesses better manage these risks and provide comfort to investors. Businesses that aren’t as transparent may be viewed as higher risk.

Why are central banks thinking about climate change?
The Bank of Canada is ramping up efforts to better understand climate change because of its important effects on the economy and prices (inflation). The Bank also needs to understand the risks from climate change on the financial system as part of efforts to help keep it safe for Canadians.

Central banks cannot solve climate change
Central banks do not set environmental policy; that’s the job of governments. But central banks are in a unique position to improve society’s understanding of the economic and financial system impacts of climate change and the policies to address it. This can help investors, regulators and everyday Canadians make informed decisions.

The Bank of Canada claims not to set environmental policy. However, it also admits to trying to drive behaviour by pushing for certain types of financial decisions. Interestingly, Mark Carney never gives a straight answer on what will happen to the oil & gas sector.

6. Bank Of England On Climate Change

Our response to climate change
The Bank’s response to climate change is motivated by its statutory objectives. The first involves promoting safety and soundness by enhancing the PRA’s approach to supervising the financial risks from climate change. The second involves enhancing the resilience of the UK financial system by supporting an orderly market transition to a low-carbon economy. We first set out our strategy for responding to these risks in an article published in the June 2017 edition of our Quarterly Bulletin.

We set up the Future of Finance project to look at how financial services might evolve over the next decade, and what this could mean for everyone who uses, provides or regulates them. Huw van Steenis led the review and published his findings and recommendations in June 2019. This included the recommendation for the Bank to promote the smooth transition to a low carbon economy. The Bank set out its response to that review and committed to take action to support an orderly transition.

Bank of England climate-related financial disclosure
The Bank published its own climate-related financial disclosure for the first time in June 2020. This sets out the Bank’s approach to managing the risks from climate change across its entire operations, and explains what it’s doing to improve its understanding of these risks. This forms part of the Bank’s work under its strategic goal on climate change. It reflects the importance that the Bank attaches to climate-related risk disclosure, and the high standards that it expects both of itself, and the firms it regulates.

Mark Carney has headed the Bank of England, in addition to the Bank of Canada. The BoE intends to make climate change a main factor its financial decisions. And some of England’s “dirty” industries are going to be phased out in favour of “green” industries. It doesn’t appear to be optional.

7. U.S. Federal Reserve On Climate Change

Let’s start with monetary policy. Increasingly, it will be important for the Federal Reserve to take into account the effects of climate change and associated policies in setting monetary policy to achieve our objectives of maximum employment and price stability. Monetary policy seeks to buffer the economy from unexpected adverse disruptions, or “shocks.” It is generally more challenging for monetary policy to insulate the economy from shocks to the supply side of the economy than to the demand side. So it is vital for monetary policymakers to understand the nature of climate disturbances to the economy, as well as their likely persistence and breadth, in order to respond effectively.

Although perhaps not done as formally as other banks, the Federal Reserve, (which is a private bank), has now stated that climate change will become an increasingly important component in the decisions it makes.

8. European Central Bank On Climate Change

The financial community’s most important action with regard to climate change has happened in the last few years: many stakeholders in the financial industry, and central bankers, too, have realised that climate change is not an issue for next century. It’s an issue for now, and it’s a topic not only for other sectors but also for the financial sector and for central bankers and supervisors.

The ECB is paying a lot more attention to climate risks, not least through its participation in the Network for Greening the Financial System (NGFS). We think about and work on climate change-related risk from four broad perspectives:
.
-There is the question of how we use our micro-prudential supervisory arm to assess and address climate change-related risk in banks.
-There is the question of climate change-related risk and its impact on financial stability.
-There is the question of whether and how we take climate change into account in our investments in own funds and pension funds.
-And there is the question of how we assess the potential impact of climate change on the factors that are important to monetary policy.

The ECB, or European Central Bank, takes the stance that climate change needs to be factored into almost every aspect of finance and commerce. No skepticism whatsoever of the agenda.

9. Network For Greening The Financial System

Purpose of the Network for Greening the Financial System
The Network’s purpose is to help strengthening the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. To this end, the Network defines and promotes best practices to be implemented within and outside of the Membership of the NGFS and conducts or commissions analytical work on green finance.

This is essentially a coalition of central banks who have all bought into the climate change agenda, and who seek to embed it into every part of the financial sector. All of this is done with an eye towards the Paris Accord.

10. International Monetary Fund In 2019

This was from an October 2019 conference the IMF (International Monetary Fund held. The topic was whether or not central banks have a role to play in the climate change agenda. They all agreed, yes, and that financial pressures can be applied to get people to fall in line.

Climate change has potential to do significant economic harm, and poses worrying tail risks. It is a global externality—one country’s emissions affect all countries by adding to the stock of heat-warming gases in the earth’s atmosphere from which warming arises.

The process of climate change is set to have a significant economic impact on many countries, with a large number of lower income countries being particularly at risk. Macroeconomic policies in these countries will need to be calibrated to accommodate more frequent weather shocks, including by building policy space to respond to shocks. Infrastructure will need to be upgraded to enhance economic resilience.

Elsewhere, climate change can entail significant risks to macrofinancial stability. Nonfinancial corporate sectors face risks from climate damages and stranded assets—such as coal reserves that become uneconomic with carbon pricing—and the disruption could affect corporate balance sheet quality.

The IMF claims that climate change is a threat to both financial stability and to economic growth.

11. World Bank Introduces Green Bonds

In 2008, the World Bank launched the “Strategic Framework for Development and Climate Change” to help stimulate and coordinate public and private sector activity to combat climate change. The World Bank Green Bonds is an example of the kind of innovation the World Bank is trying to encourage within this framework.

The World Bank Green Bond raises funds from fixed income investors to support World Bank lending for eligible projects that seek to mitigate climate change or help affected people adapt to it. The product was designed in partnership with Skandinaviska Enskilda Banken (SEB) to respond to specific investor demand for a triple-A rated fixed income product that supports projects that address the climate challenge.

Since 2008, the World Bank has now issued over USD 13 billion equivalent in Green Bonds through more than 150 transactions in 20 currencies.

World Bank Green Bonds are an opportunity to invest in climate solutions through a high quality credit fixed income product.

The triple-A credit quality of the Green Bonds is the same as for any other World Bank bonds.
Positive environmental returns by supporting World Bank projects addressing mitigation and adaptation solutions for climate change

The World Bank launched the first green bonds over a decade ago. The stated goal was to be able to raise large sums of money in order to combat climate change, or to help people who have already been impacted by it.

Bit of a side note: the World Bank is also involved in selling vaccine bonds globally. It doesn’t add anything other than drive up the cost of the nations’ pledges, by adding in a bunch of middlemen.

12. Bank For Int’l Settlements, Green Bonds

The Bank for International Settlements is integrating climate change into its priorities, despite it not being within their mandate. See here, here and here. BIS is a “central bank for central banks”, and it should focus exclusively on monetary policy. However, like the individual banks, BIS apparently sees nothing wrong with getting involved in unrelated issues.

13. Mark Carney, UN Climate Finance

On 1 December 2019, in Madrid, Spain, the Secretary-General announced the appointment of Mr. Mark Joseph Carney, OC, of Canada as his Special Envoy on Climate Action and Finance. As Special Envoy, he will focus on ambitious implementation of climate action, with special attention to significantly shifting public and private finance markets and mobilizing private finance to the levels needed to achieve the 1.5°C goal of the Paris Agreement. This will include building the frameworks for financial reporting, risk management and returns in order to bring the impacts of climate change to the mainstream of private financial decision making and to support the transition to a net zero carbon economy.

We need unprecedented climate action on a global scale. And public and private financial systems must be transformed to provide the necessary finance to transition to low-emission and resilient systems and sectors. The Secretary-General will count on Mark Carney to galvanise climate action and transform climate finance as we build towards the 26th Conference of the Parties (COP) meeting in Glasgow in November 2020

Mr. Carney began his career at Goldman Sachs before joining the Canadian Department of Finance and later serving as the Governor of the Bank of Canada (2008-2013). He was born in Fort Smith, Northwest Territories, Canada in 1965. He received a bachelor’s degree in Economics from Harvard University in 1988. He went on to receive a master’s degree in Economics in 1993 and a doctorate in Economics in 1995, both from Oxford University.

It was announced almost a year ago that Carney would be joining the UN once his current contract ended. This is the same Mark Carney who has been in charge of both the Bank of Canada, and the Bank of England. This is the same man who pushed the climate change agenda in both jobs. Now, he works for the United Nations Climate Action & Finance Division.

Carney also has made a not-so-subtle threat. Companies who don’t play ball with the climate change agenda will go bankrupt. This just seems like a modern version of the mafia.

14. A New Technique To Siphon Money

Do any of these measures make the environment cleaner, or stop climate change? No, but that isn’t their purpose. The goal is to use these measures as a means of extracting large amounts of money from countries.

Previously, private central bankers ripped off the public by having policies enacted that forced governments to borrow money at interest. (Well, they still do that). However, it seems the next iteration is to persuade governments to shovel money — usually borrowed — at climate change initiatives. How exactly this stops climate change is never really explained.

Yes, a lot of these payments simply disappear, but money also gets funneled into: (a) climate bonds; (b) is loaned to countries who can’t pay it back, resulting in debt-for-nature swaps; or (c) used for a variety of alternative purposes.

This isn’t environmentalism here. It’s just another scam that bankers are perpetuating on the unsuspecting public.

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from Canuck Law

Subscribe now to keep reading and get access to the full archive.

Continue reading