Climate Civil War: Too Big to Jail Banks use saving the Climate as new excuse to steal your money?

“ESG is often celebrated as the new and improved form of capitalism, a movement of sorts…. …While some have a meaningful effect on environmental, social, and governance issues, we learned that others are ineffective if not downright misleading to consumers and investors.”-Reed Watson, Director of the Hayek Center and Professor of Practice in Economics

On 11OCT2022, in the supposed Red-State of Texas, a new woke-female-led company was created, called Allivate Impact Capital, who’s stated mission is to “invest in projects supporting the burgeoning environmental, social, and corporate governance (ESG)”, among other things.

On 26SEP2022, the U.S. Federal Reserve announced “…a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks.” The idea is to test Big Banks’ ability “…to build capacity to manage climate-related financial risks.” and added that “In coming months, the Board will provide additional details on how the exercise will be conducted and the scenarios that will be used in the pilot.”

Apparently the U.S. Federal Reserve is joining the globalist by launching a ‘pilot program’ involving the Too Big to Fail/Jail Banks of the United States; North Carolina based (but California funded) Bank of America, New York City based Citigroup, New York City based Goldman Sachs, New York City based JPMorgan Chase, New York City based JPMorgan Chase, and California founded/based Wells Fargo.

The Environmental Social Governance (ESG) program will supposedly judge the strength of a bank’s assets in relation to the planet’s climate! This is in response to the United Nations’ diatribe back in April, 2022, warning that in order to stop using petroleum there needs to be money available to create new ‘green’ infrastructure, and perhaps your account in that Big Bank is one of the ways ‘they’ are going to get that funding.

South Carolina’s Hayek Center for the Business of Prosperity recently concluded a two-day ESG policy and research conference: “The research conference investigates social and environmental policies across various aspects of the corporate world, including banking, asset management, product markets, capital investment and corporate governance.”– Arash Dayani, assistant professor of finance

The Hayek Center’s conference revealed that ESG is not just about climate, but a person’s gender (The Impact of a Principles-Based Approach to Director Gender Diversity Policy, which concluded that such policies are working), how information about ESG affects people’s shopping habits (Consumer response to ESG news: evidence from supermarket goods, which concluded that any impact of ESG upon consumers is temporary), the effects of such things as carbon taxes and ESG Ratings on industrial polluters (Sustainability or Greenwashing: Evidence from the Asset Market for Industrial Pollution, which concluded that such policies did nothing to reduce pollution), the effects of ESG funding on ‘proxy voting’, and finally, ESG is becoming a convenient excuse for underperforming executives.

Seeing ESG as an excuse for their actions might be why ESG is among the top ten global banking trends of 2022?

Wall Street Journal: 6 U.S. Banks Will Assess Their Climate Resilience in Fed Pilot Program

KPMG: ESG risks in banks, it’s not all about climate

The Heartland Institute: Big Banks are using ESG scores to scam individuals/businesses

Climate Civil War: