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Page 298 – THE GREAT RESET: Global Elites & The Permanent Lockdown – By Marc Morano – 2022 Book
“No One Wants to Become Climate Roadkill”
Canadian banker Mark Carney, a climate advisor to both UK Prime Minister Boris Johnson and Canadian Prime Minister Justin Trudeau, has a plan to financially lockdown businesses that don’t adhere to the dictates of the climate agenda. “Carney’s Brave New World will be one of severely constrained choice, less flying, less meat, more inconvenience, and more poverty: ‘Assets will be stranded, used gasoline-powered cars will be unsaleable, inefficient properties will be unrentable,’ he promises,” wrote Peter Foster, columnist for the National Post and the author of Why We Bite the Invisible Hand: The Psychology of Anti-Capitalism.
“The agenda’s objectives are in fact already being enforced, not primarily by legislation but by the application of non-governmental—that is, non-democratic—pressure on the corporate sector via the ever-expanding dictates of ESG (environmental, social and corporate governance) and by ‘sustainable finance,’ which is designed to starve non-compliant com- panies of funds, thus rendering them, as Carney puts it, ‘climate roadkill.’ What ESG actually represents is a corporate ideological compulsion. It is a key instrument of ‘stakeholder capitalism.’
“Carney’s Agenda is promoted by the United Nations and other inter-national bureaucracies and a vast and ever-growing array of non-governmental organizations and, especially the World Economic Forum (WEF), where Carney is a trustee. Also, perhaps most surprisingly, by its corporate victims. No one wants to become climate roadkill,” Foster wrote.
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Excerpt: Of all those responsible for this abuse of business and capital markets, perhaps no man is more singularly responsible—yet nearly totally overlooked by ESG’s critics—than Mark Carney. Carney is a banking and economic giant. He was the Governor of the Bank of Canada from 2008-2013 and the Governor of the Bank of England from 2013-2020. It was in this latter capacity that, in September 2016, Carney gave one of the most important and influential speeches in the history of central banking. Appearing at an event in Berlin, Carney gave a very carefully and very confrontationally worded address, in which he addressed climate change and framed its mitigation in fiscal and fiduciary terms.
“A wholesale reassessment of prospects, as climate-related risks are re-evaluated,” Carney intoned, “could destabilise markets, spark a pro-cyclical crystallisation of losses and lead to a persistent tightening of financial conditions: a climate Minsky moment.” A “Minsky moment” is a market term named for the economist Hyman Minsky, which is used to identify the point at which a bull market has become so speculative and over-leveraged that it hits a peak and then tips over and crashes. What Carney meant by predicting a “climate-related” Minsky moment was that he—and others, presumably—believed that global capital markets were already overleveraged, already well overbought, given the inevitability of climate change. As a result, once investors started to understand the reality of the climate “crisis,” they would come to realize how foolish and speculative their investments in “unsustainable” businesses were, leading to a crash. Or to put it more simply, Carney—the Governor of the Bank of England—was warning global investors and politicians that they either had to force business in general to become environmentally sustainable immediately or could face commercial and economic Armageddon.
It is nigh on impossible to describe just how destructive Carney’s speech and subsequent activism were. Not only did he make the case that climate change posed a real and imminent threat to global economic well-being, but he also provided ESG practitioners and advocates with the means to try to legitimize their social and political meddling. After all, here was a guy who had run two of the most important central banks in the world saying that “climate risk is investment risk,” thereby giving cover to those who wanted to use their economic might to affect political change but felt constrained by their ethical obligations to their investors and clients. Or, as I put in my book,
The Dictatorship of Woke Capital, Carney’s speech was “a watershed in global finance, the moment that the big banks, the monster investment firms, and the world’s central banks began framing climate change as a risk management issue rather than good corporate social policy.” From that point on, the Larry Finks and Michael Bloombergs of the world could claim the moral high ground and could insist—contrary to the evidence—that what they were doing was legitimately in their clients’ interests and not in the service of their own political predilections.
In 2022, Carney, along with his friend Michael Bloomberg, helped create GFANZ—the Glasgow Financial Alliance for Net Zero—an outgrowth of the UN’s COP26 meeting on climate change and one of the most powerful advocacy organizations pressing governments and businesses to abandon fossil fuels. The next year, Bloomberg appointed Carney chairman of the board of directors of Bloomberg L.P. In 2024, Canadian Prime Minister Justin Trudeau formalized Carney’s advisory role with his government, naming him a special advisor and chairman of the task force on economic growth (something of which Canada has had very little for several years). …
End Stephen Soukup excerpt
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Watch: UN Climate Envoy ambushed at DAVOS by reporter about gigantic carbon footprint of attendees
