The End Is Nigh for Green Energy and Net Zero Corporatists and As the Money Dries Up, So Will the Cause
Politically astute leaders understand success is best measured by watching the reaction of enemies. The louder the latter complain, the more obvious the winning. No better example of this reality comes from Australia and is provided by a report titled ‘The Great Superannuation Greenwash.‘ There is also a subtitle, but first, let me explain the strange term ‘superannuation’ using Grok:
Superannuation, commonly referred to as "super," is a retirement savings system in Australia where employers are required to contribute a portion of an employee's earnings into a retirement fund… Employers contribute at least 11% of an employee's ordinary earnings to their superannuation fund. This rate is set to increase to 12% by July 1, 2025… The primary aim of superannuation is to provide financial support for individuals once they retire. It's designed to supplement the Age Pension, which is a government benefit available under certain conditions.
So, it’s a way for politicians to pretend they are forcing employers to pay into workers’ retirement funds, when, in fact, it’s the employee. Yes, it’s the workers’ money, no one else’s, but plenty of others have designs on it, especially the climate cultists and corporatists. The subtitle of the report reveals all this, if one knows how to read the signals:
How Australia’s largest super funds are using members’ retirement savings to vote against climate action
Notice how the assumption inherent in this subtitle is that workers shouldn’t care how much money they have to ensure a happy retirement but, rather, be focused on climate change. Really? I don’t think so. The back-up assumption, of course, is that wasting money on wind and solar to raise electricity rates is somehow a good investment. It’s not, as any schoolchild knows.
The cultists and corporatists know, too, but they have too much invested in the ideology and the corporatist scamming to back off, so they are accusing the big banks of ‘greenwashing.’ The accusation is not inaccurate, as the big banks were happy to go along with the ruse as long as governments were willing to throw money at crazy climate projects they financed. But, as Nixon’s economist said, “things that can’t go on, won’t,” and now we’ve reached the so-called tipping point, brought on by fast-rising electric rates, ESG failures and a U.S. election.
How do we know we’re there? Consider this summary from the report, issued by an amorphous group called “Market Force,” and undoubtedly funded by some special interest that will never be disclosed (emphasis added):
Our new analysis of the voting behaviour of Australia’s largest 30 super funds on climate-related shareholder proposals found that:
1. Super fund support for climate-related shareholder proposals declined in 2022, with funds backing just half of the proposals they voted on.
2. Funds were more likely to vote against climate action at some of the world’s worst climate-wrecking companies compared to all other companies in 2022, with a massive 23% drop in support for climate action at fossil fuel companies with the largest expansion plans, when compared with 2021 votes.
3. Funds are voting against climate proposals that have significant levels of support from other shareholders globally.
This behaviour is at odds with these funds’ climate commitments, as 19 of the 30 studied have publicly set targets to achieve net zero portfolio emissions by 2050.
As the stewards of $3.5 trillion of Australians’ retirement savings, super funds have a responsibility to demand greater climate action from the companies they invest in to ensure a safe and secure future for their members to retire into. Super funds must align their climate commitments with action by voting in favour of shareholder proposals that call for greater climate action from companies at their AGMs [Annual General Meetings].
Members are demanding this of their funds, and will be watching how they vote at company AGMs this year.
Everything that follows simply continues this charade of pretending workers want climate action more than earnings, which is pure bollocks. The net zero con is now understood by everyone from the lowliest worker to the gigantically overpaid BIg Bank CEO. The end is nigh for green energy corporatists and when the money dries up so does the cause.
#SuperAnnuation #ClimateAlarmism #BigBanks #RetirementFunds #SuperFunds #Corporatism #NetZero #GreenEnergy #Australia
Thank you for this great article.!!
This loss of support from banking combined with government subsidies being maxed out and probably declining leaves the billionaires who fund wind and solar. But how long will they be willing to lose money? My prediction: in 5 years, 'renewable energy' will be moot. In the next 10-20 years, our biggest problem will be the landfills - mountains of trashed, obsolete, worn out renewables stuff that turned out not to be renewable.