Climate.
Now who wudda thought. The very mega-corporations and mega-billionaires
behind the globalization of the world economy over recent decades,
whose pursuit of shareholder value and cost reduction who have wreaked
so much damage to our environment both in the industrial world and in
the under-developed economies of Africa, Asia, Latin America, are the
leading backers of the “grassroots” decarbonization movement from Sweden
to Germany to the USA and beyond.
Is it pangs of guilty conscience, or could it be a deeper agenda of the financialization of the very air we breathe and more?
Whatever
one may believe about the dangers of CO2 and risks of global warming
creating a global catastrophe of 1.5 to 2 degree Celsius average
temperature rise in the next roughly 12 years, it is worth noting who is
promoting the current flood of propaganda and climate activism.
Green Finance
Several
years before Al Gore and others decided to use a young Swedish school
girl to be the poster child for climate action urgency, or in the USA
the call of Alexandria Ocasio-Cortez for a complete reorganization of
the economy around a Green New Deal, the giants of finance began
devising schemes for steering hundreds of billions of future funds to
investments in often worthless “climate” companies.
In
2013 after years of careful preparation, a Swedish real estate company,
Vasakronan, issued the first corporate “Green Bond.” They were followed
by others including Apple, SNCF and the major French bank Credit
Agricole. In November 2013 Elon Musk’s problem-riddled Tesla Energy
issued the first solar asset-backed security. Today according to
something called the Climate Bonds Initiative, more than $500 billion in
such Green Bonds are outstanding. The creators of the bond idea state
their aim is to win over a major share of the $45 trillion of assets
under management globally which have made nominal commitment to invest
in “climate friendly” projects.
Bonnie
Prince Charles, future UK Monarch, along with the Bank of England and
City of London finance have promoted “green financial instruments,” led
by Green Bonds, to redirect pension plans and mutual funds towards green
projects. A key player in the linking of world financial institutions
with the Green Agenda is outgoing Bank of England head Mark Carney. In
December 2015, the Bank for International Settlements’ Financial
Stability Board (FSB), chaired then by Carney, created the Task Force on
Climate-related Financial Disclosure (TCFD), to advise “investors,
lenders and insurance about climate related risks.” That was certainly a
bizarre focus for world central bankers.
In
2016 the TCFD along with the City of London Corporation and the UK
Government initiated the Green Finance Initiative, aiming to channel
trillions of dollars to “green” investments. The central bankers of the
FSB nominated 31 people to form the TCFD.
Chaired by billionaire Michael Bloomberg of the financial wire, it
includes key people from JP MorganChase; from BlackRock–one of the
world’s biggest asset managers with almost $7 trillion; Barclays Bank;
HSBC, the London-Hong Kong bank repeatedly fined for laundering drug and
other black funds; Swiss Re, the world’s second largest reinsurance;
China’s ICBC bank; Tata Steel, ENI oil, Dow Chemical, mining giant BHP
Billington and David Blood of Al Gore’s Generation Investment LLC. In
effect it seems the foxes are writing the rules for the new Green Hen
House.
Bank
of England’s Carney was also a key actor in efforts to make the City of
London into the financial center of global Green Finance. The outgoing
UK Chancellor of the Exchequer, Philip Hammond, in July 2019 released a
White Paper, “Green Finance Strategy: Transforming Finance for a Greener
Future.” The paper states, “One of the most influential initiatives to
emerge is the Financial Stability Board’s private sector Task Force on
Climate-related Financial Disclosures (TCFD), supported by Mark Carney
and chaired by Michael Bloomberg. This has been endorsed by institutions
representing $118 trillion of assets globally.” There
seems to be a plan here. The plan is the financialization of the entire
world economy using fear of an end of world scenario to reach arbitrary
aims such as “net-zero greenhouse gas emissions.”
Goldman Sachs Key Actor
The
omnipresent Wall Street bank, Goldman Sachs, which spawned among others
ECB outgoing President Mario Draghi and Bank of England head Carney,
has just unveiled the first global index of top-ranking environmental
stocks, done along with the London-based CDP, formerly the Carbon
Disclosure Project. The CDP, notably, is financed by investors such as
HSBC, JPMorgan Chase, Bank of America, Merrill Lynch, Goldman Sachs,
American International Group, and State Street Corp.
The
new index, called CDP Environment EW and CDP Eurozone EW, aims to lure
investment funds, state pension systems such as the CalPERS (the
California Public Employees’ Retirement System) and CalSTRS (the
California State Teachers’ Retirement System) with a combined $600+
billion in assets, to invest in their carefully chosen targets. Top
rated companies in the index include Alphabet which owns Google,
Microsoft, ING Group, Diageo, Philips, Danone and, conveniently, Goldman Sachs.
Enter Greta, AOC and Co.
At
this point events take on a cynical turn as we are confronted with
wildly popular, heavily promoted climate activists such as
Sweden’s Greta Thunberg or New York’s 29-year-old Alexandria
Ocasio-Cortez and the Green New Deal. However sincere these activists
may be, there is a well-oiled financial machine behind promoting them
for gain.
Greta
Thunberg is part of a well-connected network tied to the organization
of Al Gore who is being cynically and professionally marketed and used
by such agencies as the UN, the EU Commission and the financial
interests behind the present climate agenda. As Canadian researcher and
climate activist, Cory Morningstar, documents in an excellent series of
posts, what is at stake is a well-knit network that is tied to US
climate investor and enormously wealthy climate profiteer, Al Gore,
chairman ofGeneration Investment group.
Gore’s
partner, ex-Goldman Sachs official David Blood as noted earlier, is a
member of the BIS-created TCFD. Greta Thunberg along with her
17-year-old US climate friend, Jamie Margolin, were both listed as
“special youth advisor and trustee” of the Swedish We Don’t Have Time
NGO, founded by its CEO Ingmar Rentzhog. Rentzhog is a member of Al
Gore’s Climate Reality Organization Leaders, and part of the European
Climate Policy Task Force. He was trained in March 2017 by Al Gore in
Denver, and again in June 2018, in Berlin. Al Gore’s Climate Reality
Project is a partner of We Don’t Have Time.
Congresswoman
Alexandria Ocasio-Cortez (AOC), who made a huge splash in her first
days in the US Congress for unveiling a “Green New Deal” to completely
reorganize the US economy at a cost of perhaps $100 trillion, is also
not without skilled guidance. AOC has openly admitted that she ran for
Congress at the urging of a group called Justice Democrats. She told one
interviewer, “I wouldn’t be running if it wasn’t for the support of
Justice Democrats and Brand New Congress. Umm, in fact it was it was
these organizations, it was JD and it was Brand New Congress as well,
that both, that asked me to run in the first place. They’re the ones
that called me a year and a half ago…” Now, as Congresswoman, AOC’s
advisers include Justice Democrats co-founder, Zack Exley. Exley was an
Open Society Fellow and got funds from among others the Open Society
Foundations and Ford Foundation to create a predecessor to Justice
Democrats to recruit select candidates for office.
The Real Agenda is Economic
The
links between the world’s largest financial groups, central banks and
global corporations to the current push for a radical climate strategy
to abandon the fossil fuel economy in favor of a vague, unexplained
Green economy, it seems, is less about genuine concern to make our
planet a clean and healthy environment to live. Rather it is an agenda,
intimately tied to the UN Agenda 2030 for “sustainable” economy, and to
developing literally trillions of dollars in new wealth for the global
banks and financial giants who constitute the real powers that be.
In
February 2019 following a speech to the EU Commission in Brussels by
Greta Thunberg, then-EU Commission President Jean-Claude Juncker, after
gallantly kissing Greta’s hand, appeared to be moved to real action. He
told Greta and the press that the EU should spend hundreds of billions
of euros combating climate change during the next 10 years. Juncker
proposed that between 2021 to 2027, “every fourth euro spent within the
EU budget go toward action to mitigate climate change.” What the sly
Juncker did not say was that the decision had nothing to do with the
young Swedish activist’s plea. It had been made in conjunction with the
World Bank a full year before in September 26, 2018 at the One Planet
Summit, along with the World Bank, Bloomberg Foundations, the World
Economic Forum and others. Juncker had cleverly used the media attention
given the young Swede to promote his climate agenda.
On
October 17, 2018, days following the EU agreement at the One Planet
Summit, Juncker’s EU signed a Memorandum of Understanding with
Breakthrough Energy-Europe in which member corporations of Breakthrough
Energy-Europe will have preferential access to any funding.
The members of
Breakthrough Energy include Virgin Air’s Richard Branson, Bill Gates,
Alibaba’s Jack Ma, Facebook’s Mark Zuckerberg, HRH Prince Al-waleed bin
Talal, Bridgewater Associates’ Ray Dalio; Julian Robertson of hedge fund
giant, Tiger Management; David Rubenstein, founder Carlyle Group;
George Soros, Chairman Soros Fund Management LLC; Masayoshi Son, founder
Softbank, Japan.
Make
no mistake. When the most influential multinational corporations, the
world’s largest institutional investors including BlackRock and Goldman
Sachs, the UN, the World Bank, the Bank of England and other central
banks of the BIS line up behind the financing of a so-called green
Agenda, call it Green New Deal or what, it is time to look behind the
surface of public climate activist campaigns to the actual agenda. The
picture that emerges is the attempted financial reorganization of the
world economy using climate, something the sun and its energy have
orders of magnitude more to do with than mankind ever could—to try to
convince us ordinary folk to make untold sacrifice to “save our
planet.”
Back
in 2010 the head of Working Group 3 of the UN Intergovernmental Panel
on Climate Change, Dr Otmar Edenhofer, told an interviewer, “…one must
say clearly that we redistribute de facto the world’s wealth by climate
policy. One has to free oneself from the illusion that international
climate policy is environmental policy. This has almost nothing to do
with environmental policy anymore, with problems such as deforestation or the ozone hole.” Since then the economic policy strategy has become far more developed.
*
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F. William Engdahl is
strategic risk consultant and lecturer, he holds a degree in politics
from Princeton University and is a best-selling author on oil and
geopolitics, exclusively for the online magazine “New Eastern Outlook.” He is a frequent contributor to Global Research.
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