"UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb

[Tom Nolan + 2,443]

This alliance, called the Glasgow Financial Alliance for Net Zero...is essentially a creative way of marketing “corporatism,” the definition of fascism infamously supplied by Italian dictator Benito Mussolini...  ...multilateral development banks (MDBs)...like the World Bank, have long been criticized for accomplishing this task by trapping developing nations in debt and then using that debt to force those nations to deregulate markets (specifically financial markets), privatize state assets and implement unpopular austerity policies. The GFANZ report makes it clear that the alliance now seeks to use these same, controversial tactics of MDBs by forcing even greater deregulation on developing countries to facilitate “green” investments from alliance members. -- EXCERPTS FROM ARTICLE

https://unlimitedhangout.com/2021/11/investigative-reports/un-backed-banker-alliance-announces-green-plan-to-transform-the-global-financial-system/

UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System

The most powerful private financial interests in the world, under the cover of COP26, have developed a plan to transform the global financial system by fusing with institutions like the World Bank and using them to further erode national sovereignty in the developing world.

byWhitney Webb

November 5, 2021

9 minute read

On Wednesday, an “industry-led and UN-convened” alliance of private banking and financial institutions announced plans at the COP26 conference to overhaul the role of global and regional financial institutions, including the World Bank and IMF, as part of a broader plan to “transform” the global financial system. The officially stated purpose of this proposed overhaul, per alliance members, is to promote the transition to a “net zero” economy. However, the group’s proposed “reimagining” of international financial institutions, according to their recently published “progress report,” would also move to merge these institutions with the private-banking interests that compose the alliance; create a new system of “global financial governance”; and erode national sovereignty among developing countries by forcing them to establish business environments deemed “friendly” to the interests of alliance members. In other words, the powerful banking interests that compose this group are pushing to recreate the entire global financial system for their benefit under the guise of promoting sustainability.

This alliance, called the Glasgow Financial Alliance for Net Zero (GFANZ), was launched in April by John Kerry, US Special Presidential Envoy for Climate Change; Janet Yellen, US Secretary of the Treasury and former chair of the Federal Reserve; and Mark Carney, UN Special Envoy for Climate Action and Finance and former chair of the Bank of England and Bank of Canada. Carney, who is also the UK prime minister’s Finance Advisor for the COP26 conference, currently cochairs the alliance with US billionaire and former mayor of New York City, Michael Bloomberg. 

GFANZ Leadership; Source: GFANZ

On its creation, GFANZ stated that it would “provide a forum for strategic coordination among the leadership of finance institutions from across the finance sector to accelerate the transition to a net zero economy” and “mobilize the trillions of dollars necessary” to accomplish the group’s zero emissions goals. At the time of the alliance’s launch, UK prime minister Boris Johnson described GFANZ as “uniting the world’s banks and financial institutions behind the global transition to net zero,” while John Kerry noted that “the largest financial players in the world recognize energy transition represents a vast commercial opportunity.” In analyzing those two statements together, it seems clear that GFANZ has united the world’s most powerful private banks and financial institutions behind what it sees, first and foremost, as “a vast commercial opportunity,” the exploitation of which it is marketing as a “planetary imperative.”

John Kerry in conversation with CNN’s Christine Amanpour at COP 26. Source: CNN

GFANZ is composed of several “subsector alliances,” including the Net Zero Asset Managers Initiative (NZAM), the Net Zero Asset Owner Alliance (NZAOA), and the Net Zero Banking Alliance (NZBA). Together, they command a formidable part of global private banking and finance interests, with the NZBA alone currently representing 43 percent of all global banking assets. However, the “largest financial players” who dominate GFANZ include the CEOs of BlackRock, Citi, Bank of America, Banco Santander, and HSBC, as well as David Schwimmer, CEO of the London Stock Exchange Group and Nili Gilbert, chair of the Investment Committee of the David Rockefeller Fund.

Notably, another Rockefeller-connected entity, the Rockefeller Foundation, recently played a pivotal role in the creation of Natural Asset Corporations (NACs) in September. These NACs seek to create a new asset class that would put the natural world, as well as the ecological processes that underpin all life, up for sale under the guise of “protecting” them. Principals of GFANZ, including BlackRock’s Larry Fink, have long been enthusiastic about the prospects of NACs and other related efforts to financialize the natural world and he has also played a key role in marketing such financialization as necessary to combat climate change.

As part of COP26, GFANZ— a key group at that conference—is publishing a plan aimed at scaling “private capital flows to emerging and developing economies.” Per the alliance’s press release, this plan focuses on “the development of country platforms to connect the now enormous private capital committed to net zero with country projects, scaling blended finance through MDBs [multilateral development banks] and developing high integrity, credible global carbon markets.” The press release notes that this “enormous private capital” is money that alliance members seek to invest in emerging and developing countries, estimated at over $130 trillion, and that—in order to deploy these trillions in investment—“the global financial system is being transformed” by this very alliance in coordination with the group that convened them, the United Nations.

Proposing a Takeover

Details of GFANZ’s plan to deploy trillions of member investments into emerging markets and developing countries was published in the alliance’s inaugural “Progress Report,” the release of which was timed to coincide with the COP26 conference. The report details the alliance’s “near-term work plan and ambitions,” which the alliance succinctly summarizes as a “program of work to transform the financial system.”

The report notes that the alliance has moved from the “commitment” stage to the “engagement” stage, with the main focus of the engagement stage being the “mobilization of private capital into emerging markets and developing countries through private-sector leadership and public-private collaboration.” In doing so, per the report, GFANZ seeks to create “an international financial architecture” that will increase levels of private investment from alliance members in those economies. Their main objectives in this regard revolve around the creation of “ambitious country platforms” and increased collaboration between MDBs and the private financial sector.

GFANZ Progress ReportDownload

[See Original Article for embedded report.]

Per GFANZ, a “country platform” is defined as a mechanism that convenes and aligns “stakeholders,” that is, a mechanism for public-private partnership/stakeholder capitalism, “around a specific issue or geography.” Examples offered include Mike Bloomberg’s Climate Finance Leadership Initiative (CFLI), which is partnered with Goldman Sachs and HSBC among other private-sector institutions. While framed as being driven by “stakeholders,” existing examples of “country platforms” offered by the GFANZ are either private sector-led initiatives, like the CFLI, or public-private partnerships that are dominated by powerful multinational corporations and billionaires. As recently explained by journalist and researcher Iain Davis, these “stakeholder capitalism” mechanism models, despite being presented as offering a “more responsible” form of capitalism, allow corporations and private entities to participate in forming the regulations that govern their own markets and giving them a greatly increased role in political decision making by placing them on an equal footing with national governments. It is essentially a creative way of marketing “corporatism,” the definition of fascism infamously supplied by Italian dictator Benito Mussolini.

In addition to the creation of “corporatist” “country platforms” that focus on specific areas and/or issues in the developing world, GFANZ aims to also further “corporatize” multilateral development banks (MDBs) and development finance institutions (DFIs) in order to better fulfill the investment goals of alliance members. Per the alliance, this is described as increasing “MDB-private sector collaboration.” The GFANZ report notes that “MDBs play a critical role in helping to grow investment flows” in the developing world. MDBs, like the World Bank, have long been criticized for accomplishing this task by trapping developing nations in debt and then using that debt to force those nations to deregulate markets (specifically financial markets), privatize state assets and implement unpopular austerity policies. The GFANZ report makes it clear that the alliance now seeks to use these same, controversial tactics of MDBs by forcing even greater deregulation on developing countries to facilitate “green” investments from alliance members.

The report explicitly states that MDBs should be used to prompt developing nations “to create the right high-level, cross-cutting enabling environments” for alliance members’ investments in those nations. The significantly greater levels of private-capital investment, which are needed to reach net zero per GFANZ, require that MDBs are used to prompt developing nations to “establish investment-friendly business environments; a replicable framework for deploying private capital investments; and pipelines of bankable investment opportunities.” GFANZ then notes that “private capital and investment will flow to these projects if governments and policymakers create the appropriate conditions,” that is, enable environments for private-sector investments. 

In other words, through the proposed increase in private-sector involvement in MDBs, such as the World Bank and regional development banks, alliance members seek to use MDBs to globally impose massive and extensive deregulation on developing countries by using the decarbonization push as justification. No longer must MDBs entrap developing nations in debt to force policies that benefit foreign and multinational private-sector entities, as climate change-related justifications can now be used for the same ends. 

BlackRock CEO and GFANZ principal Larry Fink talks to CNBC during COP26. Source: CNBC

This new modality for MDBs, along with their fusion with the private sector, is ultimately what GFANZ proposes in terms of “reimagining” these institutions. GFANZ principal and BlackRock CEO Larry Fink, during a COP26 panel that took place on November 2, explicitly referred to the plan to overhaul these institutions when he said: “If we’re going to be serious about climate change in the emerging world, we’re going to have to really focus on the reimagination of the World Bank and the IMF.”

Fink continued:

“They are the senior lender, and not enough private capital’s coming into the emerging world today because of the risks associated with the political risk, investing in brownfield investments — if we are serious about elevating investment capital in the emerging world. . . . I’m urging the owners of those institutions, the equity owners, to focus on how we reimagine these institutions and rethink their charter.”

GFANZ’s proposed plans to reimagine MDBs are particularly alarming given how leaked US military documents show that such banks are considered to be essentially “financial weapons” that have been used as “financial instruments and diplomatic instruments of US national power” as well as instruments of what those same documents refer to as the “current global governance system” that are used to force developing countries to adopt policies they otherwise would not. 

In addition, given Fink’s statements, it should not be surprising that the GFANZ report notes that their effort to establish “country platforms” and alter the functioning and charters of MDBs is a key component of implementing preplanned recommendations aimed at “seizing the New Bretton Woods moment” and remaking the “global financial governance” system so that it “promote[s] economic stability and sustainable growth.” 

As noted in other GFANZ documents and on their website, the goal of the alliance is the transformation of the global financial system, and it is obvious from member statements and alliance documents that the goal of that transformation is to facilitate the investment goals of alliance members beyond what is currently possible by using climate change-related dictates, rather than debt, as the means to that end.

The UN and the “Quiet Revolution”

In light of GFANZ’s membership and members’ ambitions, some may wonder why the United Nations would back such a predatory initiative. Doesn’t the United Nations, after all, chiefly work with national governments as opposed to private-sector interests?

Though that is certainly the prevailing public perception of the UN, the organization has for decades been following a “stakeholder capitalist” model that privileges the private sector and billionaire “philanthropists” over national governments, with the latter merely being tasked with creating “enabling environments” for the policies created by and for the benefit of the former. 

Speaking to the World Economic Forum in 1998, Secretary General Kofi Annan made this shift explicit:

“The United Nations has been transformed since we last met here in Davos. The Organization has undergone a complete overhaul that I have described as a ‘quiet revolution.” . . . A fundamental shift has occurred. The United Nations once dealt only with governments. By now we know that peace and prosperity cannot be achieved without partnerships involving governments, international organizations, the business community and civil society. . . . The business of the United Nations involves the businesses of the world.”

With the UN now essentially a vehicle for the promotion of stakeholder capitalism, it is only fitting that it would “convene” and support the efforts of a group like GFANZ to extend that stakeholder capitalist model to other institutions involved in global governance, specifically global financial governance. Allowing GFANZ members, that is, many of the largest private banks and financial institutions in the world, to fuse with MDBs, remake the “global financial governance system,” and gain increased control over political decisions in the emerging world is a banker’s dream come true. To get this far, all they have needed to do was to convince enough of the world’s population that such shifts are necessary due to the perceived urgency of climate change and the need to rapidly decarbonize the economy. Yet, if put into practice, what will result is hardly a “greener” world but a world dominated by a small financial and technocratic elite who are free to profit and pillage from both “natural capital” and “human capital.”  

Today, MDBs are used as “instruments of power” that utilize debt to force developing nations to implement policies that benefit foreign interests rather than their own national interests. If GFANZ gets its way, the MDBs of tomorrow will be used to essentially eliminate national sovereignty, privatize the “natural assets” (e.g., ecosystems, ecological processes) of the developing world, and force increasingly technocratic policies designed by global governance institutions and think tanks on ever more disenfranchised populations. 

Though GFANZ has cloaked itself in lofty rhetoric of “saving the planet,” its plans ultimately amount to a corporate-led coup that will make the global financial system even more corrupt and predatory and further reduce the sovereignty of national governments in the developing world.

• CFLI
• climate
• COP26
• GFANZ
• MBDs
• NACs
• Natural Asset Corporations

 

Author

Whitney Webb

Whitney Webb has been a professional writer, researcher and journalist since 2016. She has written for several websites and, from 2017 to 2020, was a staff writer and senior investigative reporter for Mint Press News. She currently writes for The Last American Vagabond.

 

[Tom Nolan + 2,443]

The article by Whitney Webb came from a series of news stories at the Corbett Report.  This story and the story about "CARBON RATIONED FOOD" is worth watching.  (About 13 minutes.)

https://www.corbettreport.com/nwnw20211111/#comment-122439

Banksters Set the Table for Net Zero - #NewWorldNextWeek

VIDEO    https://odysee.com/@corbettreport:0/nwnw20211111-720p:5

...or this format...

VIDEO      https://www.bitchute.com/video/8EsfI675tSyz/

Watch on Archive / BitChute / Minds / Odysee or Download the mp4

Story #1: UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System

https://unlimitedhangout.com/2021/11/investigative-reports/un-backed-banker-alliance-announces-green-plan-to-transform-the-global-financial-system/

New Financial Alliance for Net Zero Emissions Launches

https://archive.md/2qldD

"Amount of finance committed to achieving 1.5°C now at scale needed to deliver the transition"

https://archive.md/Aptq7

COP26 Climate Politics: Contraction And Convergence

https://wattsupwiththat.com/2021/11/09/cop26-climate-politics-contraction-and-convergence/

Beware Industry-Backed 'Nature-Based Solutions' Scam, Warns Global Climate Coalition

https://www.commondreams.org/news/2021/11/02/beware-industry-backed-nature-based-solutions-scam-warns-global-climate-coalition

And Now For The 100 Trillion Dollar Bankster Climate Swindle...

https://www.corbettreport.com/and-now-for-the-100-trillion-dollar-bankster-climate-swindle/

Who Wants To Be A Carbon Trillionaire?

https://www.corbettreport.com/who-wants-to-be-a-carbon-trillionaire/

What is the Future of (Bankster) Finance? - Questions For Corbett #049

https://www.corbettreport.com/what-is-the-future-of-bankster-finance-questions-for-corbett-049/

The Scamdemic Was So Last Year . . . Here's What's Coming Next

https://www.corbettreport.com/the-scamdemic-was-so-last-year-heres-whats-coming-next/

A member emailed about a not-yet-publicized hack attack against a major trucking company in the States

https://twitter.com/mediamonarchy/status/1458135527031382016

Story #2: Carbon Foodprints? The Ruling Class' Plan To Change What You Eat

https://www.rt.com/op-ed/539694-cop26-climate-hypocrisy-foodprint/

Green Cuisine: Why It's Time You Watched Your 'Foodprint'

https://archive.md/vlZy2

Despite Using Private Jets & Traveling Around Europe With 85-Car Entourage, Brandon Slams Putin For Appearing By Video Link At COP26

https://www.rt.com/russia/539257-biden-slams-putin-online-cop26/

Another Globalist "Simulation" Comes True

https://www.corbettreport.com/another-globalist-simulation-comes-true/

Image: 0 days since The Economist wrote about eating bugs

https://ifunny.co/picture/days-since-the-economist-wrote-about-eating-bugs-suM8FUaz8

Personal Carbon Allowances Revisited

https://www.nature.com/articles/s41893-021-00756-w

Beyond Meat Shares Crater As Losses Mount, Company Expects Weak U.S. Sales Growth Ahead

https://archive.md/diNWg#selection-1191.0-1195.28

Story #3: Thousands of Intel Officers Refusing Vaccine Risk Dismissal

https://archive.md/jfcLo

[Tom Nolan + 2,443]

https://community.oilprice.com/topic/24751-al-gore-says-…a-lot-of-these-fossil-fuel-assets-are-going-to-be-worthless”/

 

[RichieRich216 + 454]

The UN and World Bank make the Mafia at its peak look like Boy Scouts. Talk about corruption. These are two of the finest examples.

[ronwagn + 6,290]

On 11/12/2021 at 12:01 PM, Tom Nolan said:

This alliance, called the Glasgow Financial Alliance for Net Zero...is essentially a creative way of marketing “corporatism,” the definition of fascism infamously supplied by Italian dictator Benito Mussolini...  ...multilateral development banks (MDBs)...like the World Bank, have long been criticized for accomplishing this task by trapping developing nations in debt and then using that debt to force those nations to deregulate markets (specifically financial markets), privatize state assets and implement unpopular austerity policies. The GFANZ report makes it clear that the alliance now seeks to use these same, controversial tactics of MDBs by forcing even greater deregulation on developing countries to facilitate “green” investments from alliance members. -- EXCERPTS FROM ARTICLE

https://unlimitedhangout.com/2021/11/investigative-reports/un-backed-banker-alliance-announces-green-plan-to-transform-the-global-financial-system/

UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System

The most powerful private financial interests in the world, under the cover of COP26, have developed a plan to transform the global financial system by fusing with institutions like the World Bank and using them to further erode national sovereignty in the developing world.

byWhitney Webb

November 5, 2021

9 minute read

On Wednesday, an “industry-led and UN-convened” alliance of private banking and financial institutions announced plans at the COP26 conference to overhaul the role of global and regional financial institutions, including the World Bank and IMF, as part of a broader plan to “transform” the global financial system. The officially stated purpose of this proposed overhaul, per alliance members, is to promote the transition to a “net zero” economy. However, the group’s proposed “reimagining” of international financial institutions, according to their recently published “progress report,” would also move to merge these institutions with the private-banking interests that compose the alliance; create a new system of “global financial governance”; and erode national sovereignty among developing countries by forcing them to establish business environments deemed “friendly” to the interests of alliance members. In other words, the powerful banking interests that compose this group are pushing to recreate the entire global financial system for their benefit under the guise of promoting sustainability.

This alliance, called the Glasgow Financial Alliance for Net Zero (GFANZ), was launched in April by John Kerry, US Special Presidential Envoy for Climate Change; Janet Yellen, US Secretary of the Treasury and former chair of the Federal Reserve; and Mark Carney, UN Special Envoy for Climate Action and Finance and former chair of the Bank of England and Bank of Canada. Carney, who is also the UK prime minister’s Finance Advisor for the COP26 conference, currently cochairs the alliance with US billionaire and former mayor of New York City, Michael Bloomberg. 

GFANZ Leadership; Source: GFANZ

On its creation, GFANZ stated that it would “provide a forum for strategic coordination among the leadership of finance institutions from across the finance sector to accelerate the transition to a net zero economy” and “mobilize the trillions of dollars necessary” to accomplish the group’s zero emissions goals. At the time of the alliance’s launch, UK prime minister Boris Johnson described GFANZ as “uniting the world’s banks and financial institutions behind the global transition to net zero,” while John Kerry noted that “the largest financial players in the world recognize energy transition represents a vast commercial opportunity.” In analyzing those two statements together, it seems clear that GFANZ has united the world’s most powerful private banks and financial institutions behind what it sees, first and foremost, as “a vast commercial opportunity,” the exploitation of which it is marketing as a “planetary imperative.”

John Kerry in conversation with CNN’s Christine Amanpour at COP 26. Source: CNN

GFANZ is composed of several “subsector alliances,” including the Net Zero Asset Managers Initiative (NZAM), the Net Zero Asset Owner Alliance (NZAOA), and the Net Zero Banking Alliance (NZBA). Together, they command a formidable part of global private banking and finance interests, with the NZBA alone currently representing 43 percent of all global banking assets. However, the “largest financial players” who dominate GFANZ include the CEOs of BlackRock, Citi, Bank of America, Banco Santander, and HSBC, as well as David Schwimmer, CEO of the London Stock Exchange Group and Nili Gilbert, chair of the Investment Committee of the David Rockefeller Fund.

Notably, another Rockefeller-connected entity, the Rockefeller Foundation, recently played a pivotal role in the creation of Natural Asset Corporations (NACs) in September. These NACs seek to create a new asset class that would put the natural world, as well as the ecological processes that underpin all life, up for sale under the guise of “protecting” them. Principals of GFANZ, including BlackRock’s Larry Fink, have long been enthusiastic about the prospects of NACs and other related efforts to financialize the natural world and he has also played a key role in marketing such financialization as necessary to combat climate change.

As part of COP26, GFANZ— a key group at that conference—is publishing a plan aimed at scaling “private capital flows to emerging and developing economies.” Per the alliance’s press release, this plan focuses on “the development of country platforms to connect the now enormous private capital committed to net zero with country projects, scaling blended finance through MDBs [multilateral development banks] and developing high integrity, credible global carbon markets.” The press release notes that this “enormous private capital” is money that alliance members seek to invest in emerging and developing countries, estimated at over $130 trillion, and that—in order to deploy these trillions in investment—“the global financial system is being transformed” by this very alliance in coordination with the group that convened them, the United Nations.

Proposing a Takeover

Details of GFANZ’s plan to deploy trillions of member investments into emerging markets and developing countries was published in the alliance’s inaugural “Progress Report,” the release of which was timed to coincide with the COP26 conference. The report details the alliance’s “near-term work plan and ambitions,” which the alliance succinctly summarizes as a “program of work to transform the financial system.”

The report notes that the alliance has moved from the “commitment” stage to the “engagement” stage, with the main focus of the engagement stage being the “mobilization of private capital into emerging markets and developing countries through private-sector leadership and public-private collaboration.” In doing so, per the report, GFANZ seeks to create “an international financial architecture” that will increase levels of private investment from alliance members in those economies. Their main objectives in this regard revolve around the creation of “ambitious country platforms” and increased collaboration between MDBs and the private financial sector.

GFANZ Progress ReportDownload

[See Original Article for embedded report.]

Per GFANZ, a “country platform” is defined as a mechanism that convenes and aligns “stakeholders,” that is, a mechanism for public-private partnership/stakeholder capitalism, “around a specific issue or geography.” Examples offered include Mike Bloomberg’s Climate Finance Leadership Initiative (CFLI), which is partnered with Goldman Sachs and HSBC among other private-sector institutions. While framed as being driven by “stakeholders,” existing examples of “country platforms” offered by the GFANZ are either private sector-led initiatives, like the CFLI, or public-private partnerships that are dominated by powerful multinational corporations and billionaires. As recently explained by journalist and researcher Iain Davis, these “stakeholder capitalism” mechanism models, despite being presented as offering a “more responsible” form of capitalism, allow corporations and private entities to participate in forming the regulations that govern their own markets and giving them a greatly increased role in political decision making by placing them on an equal footing with national governments. It is essentially a creative way of marketing “corporatism,” the definition of fascism infamously supplied by Italian dictator Benito Mussolini.

In addition to the creation of “corporatist” “country platforms” that focus on specific areas and/or issues in the developing world, GFANZ aims to also further “corporatize” multilateral development banks (MDBs) and development finance institutions (DFIs) in order to better fulfill the investment goals of alliance members. Per the alliance, this is described as increasing “MDB-private sector collaboration.” The GFANZ report notes that “MDBs play a critical role in helping to grow investment flows” in the developing world. MDBs, like the World Bank, have long been criticized for accomplishing this task by trapping developing nations in debt and then using that debt to force those nations to deregulate markets (specifically financial markets), privatize state assets and implement unpopular austerity policies. The GFANZ report makes it clear that the alliance now seeks to use these same, controversial tactics of MDBs by forcing even greater deregulation on developing countries to facilitate “green” investments from alliance members.

The report explicitly states that MDBs should be used to prompt developing nations “to create the right high-level, cross-cutting enabling environments” for alliance members’ investments in those nations. The significantly greater levels of private-capital investment, which are needed to reach net zero per GFANZ, require that MDBs are used to prompt developing nations to “establish investment-friendly business environments; a replicable framework for deploying private capital investments; and pipelines of bankable investment opportunities.” GFANZ then notes that “private capital and investment will flow to these projects if governments and policymakers create the appropriate conditions,” that is, enable environments for private-sector investments. 

In other words, through the proposed increase in private-sector involvement in MDBs, such as the World Bank and regional development banks, alliance members seek to use MDBs to globally impose massive and extensive deregulation on developing countries by using the decarbonization push as justification. No longer must MDBs entrap developing nations in debt to force policies that benefit foreign and multinational private-sector entities, as climate change-related justifications can now be used for the same ends. 

BlackRock CEO and GFANZ principal Larry Fink talks to CNBC during COP26. Source: CNBC

This new modality for MDBs, along with their fusion with the private sector, is ultimately what GFANZ proposes in terms of “reimagining” these institutions. GFANZ principal and BlackRock CEO Larry Fink, during a COP26 panel that took place on November 2, explicitly referred to the plan to overhaul these institutions when he said: “If we’re going to be serious about climate change in the emerging world, we’re going to have to really focus on the reimagination of the World Bank and the IMF.”

Fink continued:

“They are the senior lender, and not enough private capital’s coming into the emerging world today because of the risks associated with the political risk, investing in brownfield investments — if we are serious about elevating investment capital in the emerging world. . . . I’m urging the owners of those institutions, the equity owners, to focus on how we reimagine these institutions and rethink their charter.”

GFANZ’s proposed plans to reimagine MDBs are particularly alarming given how leaked US military documents show that such banks are considered to be essentially “financial weapons” that have been used as “financial instruments and diplomatic instruments of US national power” as well as instruments of what those same documents refer to as the “current global governance system” that are used to force developing countries to adopt policies they otherwise would not. 

In addition, given Fink’s statements, it should not be surprising that the GFANZ report notes that their effort to establish “country platforms” and alter the functioning and charters of MDBs is a key component of implementing preplanned recommendations aimed at “seizing the New Bretton Woods moment” and remaking the “global financial governance” system so that it “promote[s] economic stability and sustainable growth.” 

As noted in other GFANZ documents and on their website, the goal of the alliance is the transformation of the global financial system, and it is obvious from member statements and alliance documents that the goal of that transformation is to facilitate the investment goals of alliance members beyond what is currently possible by using climate change-related dictates, rather than debt, as the means to that end.

The UN and the “Quiet Revolution”

In light of GFANZ’s membership and members’ ambitions, some may wonder why the United Nations would back such a predatory initiative. Doesn’t the United Nations, after all, chiefly work with national governments as opposed to private-sector interests?

Though that is certainly the prevailing public perception of the UN, the organization has for decades been following a “stakeholder capitalist” model that privileges the private sector and billionaire “philanthropists” over national governments, with the latter merely being tasked with creating “enabling environments” for the policies created by and for the benefit of the former. 

Speaking to the World Economic Forum in 1998, Secretary General Kofi Annan made this shift explicit:

“The United Nations has been transformed since we last met here in Davos. The Organization has undergone a complete overhaul that I have described as a ‘quiet revolution.” . . . A fundamental shift has occurred. The United Nations once dealt only with governments. By now we know that peace and prosperity cannot be achieved without partnerships involving governments, international organizations, the business community and civil society. . . . The business of the United Nations involves the businesses of the world.”

With the UN now essentially a vehicle for the promotion of stakeholder capitalism, it is only fitting that it would “convene” and support the efforts of a group like GFANZ to extend that stakeholder capitalist model to other institutions involved in global governance, specifically global financial governance. Allowing GFANZ members, that is, many of the largest private banks and financial institutions in the world, to fuse with MDBs, remake the “global financial governance system,” and gain increased control over political decisions in the emerging world is a banker’s dream come true. To get this far, all they have needed to do was to convince enough of the world’s population that such shifts are necessary due to the perceived urgency of climate change and the need to rapidly decarbonize the economy. Yet, if put into practice, what will result is hardly a “greener” world but a world dominated by a small financial and technocratic elite who are free to profit and pillage from both “natural capital” and “human capital.”  

Today, MDBs are used as “instruments of power” that utilize debt to force developing nations to implement policies that benefit foreign interests rather than their own national interests. If GFANZ gets its way, the MDBs of tomorrow will be used to essentially eliminate national sovereignty, privatize the “natural assets” (e.g., ecosystems, ecological processes) of the developing world, and force increasingly technocratic policies designed by global governance institutions and think tanks on ever more disenfranchised populations. 

Though GFANZ has cloaked itself in lofty rhetoric of “saving the planet,” its plans ultimately amount to a corporate-led coup that will make the global financial system even more corrupt and predatory and further reduce the sovereignty of national governments in the developing world.

• CFLI
• climate
• COP26
• GFANZ
• MBDs
• NACs
• Natural Asset Corporations

 

Author

Whitney Webb

Whitney Webb has been a professional writer, researcher and journalist since 2016. She has written for several websites and, from 2017 to 2020, was a staff writer and senior investigative reporter for Mint Press News. She currently writes for The Last American Vagabond.

 

This describes our current administration's policy very closely. Crony capitalists are abundant, socialists are fully backing the same policies, knowing that they could eventually take full control of the crony corporations eventually starting by "creating the supporting environment" for them. That is a sneaky way of saying financial support and legal permissions, rebates, tax breaks etc. Our Democrat administration and those in the rest of the Western world are all on the same page to a great extent. It is much more profitable to REPLACE an existing structure that actually works with a system that is unproven at the scale that is actually needed. It would take 50 to 100 years worldwide and it would destroy the economies of all Western Nations. China, Russia, OPEC nations, and all those who continue to produce, sell, and use "fossil fuels" flourish and grow their economies. That is the true goal and agenda of the crony capitalist and leftists who have their eyes on total control of the world. Meanwhile they would have decades to reap profits and destroy the middle class. The middle class will soon become helpless and hopeless.  

[ronwagn + 6,290]

7 hours ago, RichieRich216 said:

The UN and World Bank make the Mafia at its peak look like Boy Scouts. Talk about corruption. These are two of the finest examples.

Notice how the left never complains about drug cartels, drug crime, open borders, etc. Left wing "prosecutors" that support no bail and extreme leniency to drug sellers, drug related crimes, actual murderers ( in some cases a la district attorney Kim Fox in Chicago). The same is true with human trafficking. 

[RichieRich216 + 454]

My short response, “Kill them all and let God sort it out,” This gets mind-numbing after a certain point....

[Piotr Berman + 82]

This describes our current administration's policy very closely. Crony capitalists are abundant, socialists are fully backing the same policies, knowing that they could eventually take full control of the crony corporations eventually starting by "creating the supporting environment" for them. <-- rongwan

What we know as "socialists" these days are there results of conversion from "paleo-socialists" (or "paleo-communists") to crony capitalist. Which capitalists are not "crony" requires analysis.  In USA even the dealers of used cars have their associations, associations have their lobbyists and they tilt laws in their favor.

About Mafia or mafias, they niche is small/medium scale schemes, plutocrats being higher in the food chain.  

 

 

[Piotr Berman + 82]

Surprise: artificial meat is not as popular as investors hoped.  I thought that this is an idea with no sense at all: of you do not want meat, there are beans in various forms: refried beans (very popular in Utah and Idaho according to my visits to supermarkets on driving vacations), just beans, tofu, falafels etc. etc., you can find something to your taste.  But my experience shows that what I think makes no sense can make market sense, so artificial meat is somewhat exceptional.

[Tom Nolan + 2,443]

https://oilprice.com/Energy/Crude-Oil/Is-It-Fair-To-Ask-Africa-To-Stop-Pumping-Oil-And-Gas.html

Is It Fair To Ask Africa To Stop Pumping Oil And Gas?

By Haley Zaremba - Nov 15, 2021, 4:00 PM CST

• Africa is particularly vulnerable to climate change, not only because it’s heating up first and fastest.
• Rich nations, responsible for the vast majority of the world’s overall greenhouse gas emissions, are pushing for emerging economies to pledge to phasing out fossil fuels.
• Emerging economies are still looking at a difficult and unclear road ahead on their tightrope walk between development and decarbonization.

[nsdp + 449]

On 11/15/2021 at 4:33 PM, ronwagn said:

Notice how the left never complains about drug cartels, drug crime, open borders, etc. Left wing "prosecutors" that support no bail and extreme leniency to drug sellers, drug related crimes, actual murderers ( in some cases a la district attorney Kim Fox in Chicago). The same is true with human trafficking. 

Ron , you are soft on the real criminals in our society.  I don't see you talking about the biggest criminals in our nation.   Hypocrite.

We would do a lot better cracking down on tax cheats (that includes dope dealers who never file) . https://www.irs.gov/pub/irs-soi/bloomq.pdf 2004 is that period we had a full taxpayer compliance audit. At that time the top 10% of income earners shorted the IRS  by $875 Billion dollars.  IRS collected $507 billion. Congress immediately cut IRS audit and criminal div staffing by 2500 employees.  that vote was 100% along party lines and Bush signed. https://www.irs.gov/pub/irs-soi/bloomq.pdf

If you really want to get tough on big time crime in the US. start auditing. Any one without cash income or fake business expenses or shady tax shelter deals has very little to worry about. I have represented a restaurateur who pocketed all cash  out of the register and never reported it. All he deposited was checks and credit and cards.  IRS and got the real invoices for his food purchases.  At that point the case was turned over to the criminal division.  The gentleman was pocketing $10-15000 monthly and when they arrested him he had $9000 in cash on his person.  Or look at the shady tax shelters run by Jenkins and Gilchrest  I represented one of their former clients in an audit. https://www.newyorksecuritieslawyersblog.com/former-heads-of-jenkins-gilchr/

Remember Capone went to prison for tax fraud.

Vickers Speck304032018.pdf

Edited November 21, 2021 by nsdp
spelling punctuation error

[nsdp + 449]

On 11/12/2021 at 12:10 PM, Tom Nolan said:

The article by Whitney Webb came from a series of news stories at the Corbett Report.  This story and the story about "CARBON RATIONED FOOD" is worth watching.  (About 13 minutes.)

https://www.corbettreport.com/nwnw20211111/#comment-122439

Banksters Set the Table for Net Zero - #NewWorldNextWeek

VIDEO    https://odysee.com/@corbettreport:0/nwnw20211111-720p:5

...or this format...

VIDEO      https://www.bitchute.com/video/8EsfI675tSyz/

Watch on Archive / BitChute / Minds / Odysee or Download the mp4

Story #1: UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System

https://unlimitedhangout.com/2021/11/investigative-reports/un-backed-banker-alliance-announces-green-plan-to-transform-the-global-financial-system/

New Financial Alliance for Net Zero Emissions Launches

https://archive.md/2qldD

"Amount of finance committed to achieving 1.5°C now at scale needed to deliver the transition"

https://archive.md/Aptq7

COP26 Climate Politics: Contraction And Convergence

https://wattsupwiththat.com/2021/11/09/cop26-climate-politics-contraction-and-convergence/

Beware Industry-Backed 'Nature-Based Solutions' Scam, Warns Global Climate Coalition

https://www.commondreams.org/news/2021/11/02/beware-industry-backed-nature-based-solutions-scam-warns-global-climate-coalition

And Now For The 100 Trillion Dollar Bankster Climate Swindle...

https://www.corbettreport.com/and-now-for-the-100-trillion-dollar-bankster-climate-swindle/

Who Wants To Be A Carbon Trillionaire?

https://www.corbettreport.com/who-wants-to-be-a-carbon-trillionaire/

What is the Future of (Bankster) Finance? - Questions For Corbett #049

https://www.corbettreport.com/what-is-the-future-of-bankster-finance-questions-for-corbett-049/

The Scamdemic Was So Last Year . . . Here's What's Coming Next

https://www.corbettreport.com/the-scamdemic-was-so-last-year-heres-whats-coming-next/

A member emailed about a not-yet-publicized hack attack against a major trucking company in the States

https://twitter.com/mediamonarchy/status/1458135527031382016

Story #2: Carbon Foodprints? The Ruling Class' Plan To Change What You Eat

https://www.rt.com/op-ed/539694-cop26-climate-hypocrisy-foodprint/

Green Cuisine: Why It's Time You Watched Your 'Foodprint'

https://archive.md/vlZy2

Despite Using Private Jets & Traveling Around Europe With 85-Car Entourage, Brandon Slams Putin For Appearing By Video Link At COP26

https://www.rt.com/russia/539257-biden-slams-putin-online-cop26/

Another Globalist "Simulation" Comes True

https://www.corbettreport.com/another-globalist-simulation-comes-true/

Image: 0 days since The Economist wrote about eating bugs

https://ifunny.co/picture/days-since-the-economist-wrote-about-eating-bugs-suM8FUaz8

Personal Carbon Allowances Revisited

https://www.nature.com/articles/s41893-021-00756-w

Beyond Meat Shares Crater As Losses Mount, Company Expects Weak U.S. Sales Growth Ahead

https://archive.md/diNWg#selection-1191.0-1195.28

 

Tom you don't check your stories for out right lies or exaggeration.   First of all  we don't have 3.3 million intelligence officers as classified by civil service and uniformed services. 3% is what is at risk at CIA and that would be at most 18,000 agents.    Probably 1/2 are clerical.  The refusers appear to be a high percentage disciplinary problem  or otherwise no in the tiop 35%. Good chance to weed out  teh slackers.

[ronwagn + 6,290]

18 hours ago, nsdp said:

Ron , you are soft on the real criminals in our society.  I don't see you talking about the biggest criminals in our nation.   Hypocrite.

We would do a lot better cracking down on tax cheats (that includes dope dealers who never file) . https://www.irs.gov/pub/irs-soi/bloomq.pdf 2004 is that period we had a full taxpayer compliance audit. At that time the top 10% of income earners shorted the IRS  by $875 Billion dollars.  IRS collected $507 billion. Congress immediately cut IRS audit and criminal div staffing by 2500 employees.  that vote was 100% along party lines and Bush signed. https://www.irs.gov/pub/irs-soi/bloomq.pdf

If you really want to get tough on big time crime in the US. start auditing. Any one without cash income or fake business expenses or shady tax shelter deals has very little to worry about. I have represented a restaurateur who pocketed all cash  out of the register and never reported it. All he deposited was checks and credit and cards.  IRS and got the real invoices for his food purchases.  At that point the case was turned over to the criminal division.  The gentleman was pocketing $10-15000 monthly and when they arrested him he had $9000 in cash on his person.  Or look at the shady tax shelters run by Jenkins and Gilchrest  I represented one of their former clients in an audit. https://www.newyorksecuritieslawyersblog.com/former-heads-of-jenkins-gilchr/

Remember Capone went to prison for tax fraud.

Vickers Speck304032018.pdf 250.7 kB · 2 downloads

Of course tax cheats should be prosecuted. That is what the IRS is supposed to be doing, not overlooking tax cheating crony capitalists while going after those who support right wing causes. You know what happened under Obama, all the branches of government ended up working for him. That is fascism. Without the establishment going after Trump, for over four years, he would have won easily. Only those with eyes can see the truth but even some of those refuse to see it. 

https://www.breitbart.com/politics/2021/11/21/report-hunter-biden-profited-joe-biden-losing-energy-race-communist-china/

Edited November 22, 2021 by ronwagn
reference

[nsdp + 449]

On 11/21/2021 at 6:02 PM, ronwagn said:

Of course tax cheats should be prosecuted. That is what the IRS is supposed to be doing, not overlooking tax cheating crony capitalists while going after those who support right wing causes. You know what happened under Obama, all the branches of government ended up working for him. That is fascism. Without the establishment going after Trump, for over four years, he would have won easily. Only those with eyes can see the truth but even some of those refuse to see it. 

https://www.breitbart.com/politics/2021/11/21/report-hunter-biden-profited-joe-biden-losing-energy-race-communist-china/

Ron that is not the philosophy of the Republican Party. From 2011 to 2017 when they controlled the House of Representatives, IRS revenue audit was cut 25% and Criminal div. 33%.   You can't do as many audits when you have those staff cuts.

[ronwagn + 6,290]

4 minutes ago, nsdp said:

Ron that is not the philosophy of the Republican Party. From 2011 to 2017 when they controlled the House of Representatives, IRS revenue audit was cut 25% and Criminal div. 33%.   You can't do as many audits when you have those staff cuts.

I was primarily referring to what big government can turn into under corrupt leadership. I don't know where to draw the line on the IRS but I trust it about as much as I trust the current FBI. Not much. The IRS wants to snoop on anyone with over $600 in their bank account. So I do not want the government to get bigger, but smaller. Even if I trusted it, it needs to be smaller because we cannot afford it. 

Are you aware that the federal government is now allowed to buy private information from any company it chooses to? It can snoop on all of your private information through your cell phone, laptop, and every other form of communication without your knowledge or permission? I am sure you are. The fewer snoops, the lest damage they can do. 

[nsdp + 449]

Hoover did it ll the time. Whats new.  Might remind you that is the Patriot Act that lets them do that.   Who passed that.   If you don't want to catch criminals lets just open the prison doors.  You can't have it both ways.

Edited November 24, 2021 by nsdp

[ronwagn + 6,290]

On 11/16/2021 at 12:36 AM, Piotr Berman said:

This describes our current administration's policy very closely. Crony capitalists are abundant, socialists are fully backing the same policies, knowing that they could eventually take full control of the crony corporations eventually starting by "creating the supporting environment" for them. <-- rongwan

What we know as "socialists" these days are there results of conversion from "paleo-socialists" (or "paleo-communists") to crony capitalist. Which capitalists are not "crony" requires analysis.  In USA even the dealers of used cars have their associations, associations have their lobbyists and they tilt laws in their favor.

About Mafia or mafias, they niche is small/medium scale schemes, plutocrats being higher in the food chain.  

 

 

America has a "narco republic" to our south and Biden is allowing illegal aliens through our border while not continuing our nearly finished border wall. This is NOT a medium scale scheme and involves the Mexican government not protecting their side of the border and keeping migrants from crossing our border. This is unacceptable to most Americans since we will be paying for these immigrants to live here illegally. Our crony capitalists will be happy for cheap labor and our elites will make increased profits while lowering wages of legal citizens. 

The elite establishment in America are inclined toward gaining total control of how we live. They control most of the media, education, entertainment, medicine, law, foundations, etc. The middle class must reassume control or will become a permanent underclass being bled dry by taxes to pay for programs and policies that the elites want. 

[ronwagn + 6,290]

On 11/15/2021 at 5:33 PM, RichieRich216 said:

My short response, “Kill them all and let God sort it out,” This gets mind-numbing after a certain point....

Keep fighting or you will be taken prisoner as will your descendents.