Banking Rats Are Leaving the Net Zero Ship As 'Mad As Hell' Voters Tell Globalists What They Think About Their Leadership

The BOE (Barrel of Oil Equivalent) Report is a great site for energy information. It ran this wonderful editorial the other day:

The energy financing landscape appears to be changing, with many of the world’s largest financial institutions in North America abandoning climate change groups. The US appears to be leading the way in this regard, with many Canadian banks following suit. While it’s possible that some of this is due to the changing political landscape in the US, it’s also possible that many of these institutions are simply taking the practical approach to financing energy projects, understanding that global energy demand is growing and that most likely ALL types of energy will be required to satisfy the ever growing demand.

For most countries, it would not be a political statement to say that energy security and energy affordability should be a priority. We want the light to come on when we flick the switch, we want the furnace to come on in our house when it’s cold out, and we want to be able to afford the costs. We also want the cleanest energy sources possible, but there needs to be a balance between continually increasing energy needs, our desire for the cleanest energy possible and our requirement for that energy to be reliable at all times.

Banking Rats Are Leaving the Net Zero Ship

It then went on to link to two Reuters articles document just how many rats are leaving the global climate coalition ship:

First was this one regarding Canadian banks:

Four of Canada's biggest lenders said on Friday they were withdrawing from a global banking sector climate coalition, joining six major U.S. banks.

The departures from the Net-Zero Banking Alliance began with Goldman Sachs' announcement on Dec. 6 and come ahead of Donald Trump's return to the White House next week. Trump has been critical of efforts by governments to prescribe climate-change policies.

The four Canadian banks are TD Bank, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce.

The other big U.S. banks that have withdrawn are Wells Fargo, Citi, Bank of America , Morgan Stanley and JPMorgan .

The Net-Zero Banking Alliance, a UN-sponsored initiative set up by former Bank of Canada Governor Mark Carney, was launched in 2021 to encourage financial institutions to limit the effects of climate change and push toward achieving net-zero emissions.

And, then, there was this one revealing the U.S. Federal Reserve was inexplicably involved and is now jumping ship as well:

The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.

In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) because its increasingly broadened scope had fallen outside the Fed's statutory mandate.

The central bank joined the group in 2020. The exit comes three days before President-elect Donald Trump, who is critical of efforts by governments to prescribe climate change policies, is set to take office.

The NGFS, formed in 2017, is charged with helping central banks and bank supervisors with integrating risks stemming from climate change into their work steering monetary policy and policing the financial system. A spokesperson for the group did not immediately respond to a request for comment.

In recent years, the Fed had taken some steps to integrate climate change into its work via preliminary analysis and reports, but Chair Jerome Powell has repeatedly insisted the Fed has a limited role to play. Powell has maintained the Fed is not responsible for setting climate change policy, and the matter lies in the hands of Congress.

Republicans in Congress have been skeptical of any regulatory efforts to police climate risk in the banking sector, and Trump's impending takeover in Washington has spurred similar exits in the private sector.

Maybe it's time to exit the Federal Reserve, too, given the utter stupidity of its getting on a patently political bandwagon. Regardless, what we’re seeing here is a massive abandonment of the net zero cause as Trump has arrived back on the scene. But, it’s more than Trump. His re-election was a message from ordinary people to globalists that they’re mad as hell at all the green idiocy and aren’t going to take it anymore. It's happening all over the world and the net zero ship is on fire and sinking.

#BOE #Canada #FederalReserve #NetZero #Banks