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By Jo Nova
So much for banks saving the Planet…
Elections do have consequences. (Thank goodness). After 19 Republican States hounded the banker cartels to behave, and Donald Trump won, the bankers quietly fled from the Net Zero banker clubs. They had been using our pension funds to bully companies and countries. They were playing Kingmakers — punishing law abiding companies, and thus forcing their own weather-changing energy policies on democracies (despite what the voters chose). In a triple whammy, they were forcing electricity bills up, sending industries and jobs to China, and also screwing the would-be-pensioners by not investing their money in the best investments. But the bankers were earning favors from China, and profiting from renewables investments, ESG funds, and their ability to push markets around.
Getting the bankers out of GFANZ was not just symbolic victory for The People over The Blob. The numbers show sixty five of the world’s largest banks put $869 billion in funding to gas, oil and coal companies last year. It was an increase of 23% from the year before. This ship is turning.
So Australia will tie itself in knots to close a few coal plants, but the rest of the world are pouring billions into fossil fuels.
Global Banks Increase Fossil-Fuel Funding as Climate Pledges Crumble
by Elena Vardon, Wall Street Journal
Global banks significantly increased their financing for coal, oil and gas projects last year, according to a new report by climate advocacy groups, marking a reversal at a time when lenders are backtracking on climate pledges.
The world’s largest lenders committed $869.4 billion to companies conducting business in fossil fuels in 2024, according to the “Banking on Climate Chaos” report published on Tuesday.
The report, which tracks $7.9 trillion in fossil-fuel financing since 2016, notes that last year’s increase was partly due to a retreat from climate action by banks, with many watering down existing exclusion policies and delaying decarbonization targets.
The banker-blob wants to rule the world, and for a while they acted like a quasi Global-government bossing companies and nations around.
When asked to comment on their new lack of enthusiasm for saving the world most of the bankers said “no comment”. They knew there was nothing they could say.
But if the US elected representatives hadn’t stopped them, who would have?
Do you recall how in Australia the treasurer said (effectively) if we didn’t destroy our energy supply in the name of “global warming” we would have to pay a greater interest on borrowings?
He was reiterating statements previously made by the PM and Governor of the Reserve Bank.
I always wanted to see proof that any bank actually said that.
The fanatical commitment to Net Zero of the fake conservative Liberals is just as bad as Labor and they will never get elected unless they are prepared to connect to reality. And remember it was fake conservative Howard that set us on the road to economic destruction with Kyoto.
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Just think of the logic of it. Australia has massive Government and other debt. We are a very good customer for the capital markets of the world. Why would they charge us more interest when we are such good customers? If any bank tried it we could just go elsewhere.
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Interest rates top 10.
1 Zimbabwe 110%
2 Argentina 69.89%
3 Turkey 43.5%
4 Venezuela 36%
5 Uzbekistan 18.4%
6 Sierra Leone 15.75%
7 Egypt 14.49%
8 Colombia 13.21%
9 Madagascar 13%
10 Mongolia 11.6%
Interest rates on a saving account in Oz.. pitiful.
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Yes, we should be more like Zimbabwe
or perhaps Switzerland where interest rates just went to zero
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To be fair, Howard did not ratify Kyoto but supported it at the time although he later changed his mind.
Strangely for a Uniparty politician, he did actually see reality and said “It is not in Australia’s interests to ratify. The protocol would cost us jobs and damage our industry.”
But he also said that Australia was taking other measures and he did start us on the road to destruction when he allowed non-dispatchables like windmills to connect to the grid.
Kyoyo was finally ratified by KRudd in 2007.
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Yes it was Kevin Rudd that signed the Kyoto Protocol. I was a great believer in man made global warming back in those times. In fact although it absolutely pains me to say it now that is the only time I have ever voted Labor and specifically because I thought Australia should sign and I had become sick of John Howard.
Years later I accidentally came across a climate realist/skeptic website although I can’t remember which one now and was amazed by what I read. I spent days and days reading and following links to more and more information and it all made much more sense to me than what I had previously heard, believed or thought.
And so because of my curiosity in just two short weeks I had completely changed my position and became a realist/skeptic if you like.
What an eye opener those weeks were.
PS, Please don’t blame me for voting for Kevin Rudd 🙂
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Huh!
It was Kevin Rudd ratifying that Kyoto Protocol in the flashing camera bulbs at Bali in December 2007 that started my doing all of what I do.
I wanted to explain how complying with that document in reducing CO2 emissions was going to harm electrical power generation ….. by closing coal fired power plants (and Natural Gas fired plants also) ….. and then trying to find a method of power generation to replace all of that lost generated power.
So, when I started all this back in March of 2008, I thought my background knowledge would help me do just that. How wrong I was. The more research I did, the more I realised that what I knew was actually barely minimal at best. That freaked me out, because even though I knew what I was looking at (and learning each new day on an almost exponential basis) I knew hand on heart that the average person would have zero comprehension of any of it. From that last thought, the next thought that came into my head was this ….. “They’re going to get away with this.”
And they did.
I’m a nobody in all of this, and right from that time, I knew that anything we (collectively, not just me) tried to rationally explain would be all but useless. (and it pretty much has been just that!)
Tony.
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Tony, just like you I was a firm believer back in the late 90’s early 2000’s. I was very concerned about CO2, positive feedback, etc. It all sounded “scientifically” feasible. But slowly, as I searched the internet for confirming data, the opposite happened. I found that many, such as Happer and others, were questioning it and slowly I came to realise that we had been sold a pup. At first I thought it was just poor science, and there was a lot of that. However I have eventually come to realise that there is an agenda behind all of this that has nothing to do with science but everything to do with control and the demise of western civilisation. Unfortunately, public ignorance is slowing change and that is going to take some time to change.
On that subject, I received an email from Mathew Sheahan (Advance Australia) who are planning their next campaign to awaken realisation of Net Zero dangers to the Australian community and to change the perception that “climate change” is a dangerous issue. I wish them every success.
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I should have added that I got so much of my information from Jo’s blog and it’s many, many very knowledgeable contributors. Thanks to you all,
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Everything the State says is a lie, and everything it has, it has stolen.
Start there, and you generally can’t go wrong.
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The Howard Government did not ratify the Kyoto Agreement on emissions reduction, they said they would not do anything to undermine the Australian economy, they also said the target would be achieved with new technology introduced and for example encouraging motor transport to use LPG or CNG either dual fuel system or gas only system.
It was Rudd Government that decided to phase out quickly the gas installation incentive rebate leading to making electric vehicles government favourite.
As I have posted previously, the Morrison Government did not sign the Glasgow zero emissions agreement and said instead Australia would have an aspirational goal to achieve net zero emissions based on new technology and without damaging the economy – nuclear power stations would be for Australia new technology and Morrison and other Coalition governments starting with Howard Government continued research into nuclear power stations.
I am not an advocate for net zero emissions political agenda.
The National Party recently decided to no longer support net zero, the Liberal Party since the election defeat via the new leader Ley have not.
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Susssan also has three flags and acknowledges the so call traditional owners 🙁
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It’s a worry!!!
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An original thinker she ain’t.
She’s really slammed the door on dissent from Labor’s viewpoint. Nothing good can come of this craven conformity. The sooner she’s ousted, or rather oussted, the better.
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She is hopeless and just shows the rot is well set in, in that she got voted in.
Nothing against her because she is female, in fact I thought the fact she was originally from South Africa might be a good thing.
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Under Sussssssan’s non-leadership, the Liberals have no chance of winning.
I wonder if numerologists tell her what policies to implement, just like she added an “s” to her name on their advice?
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Josh is an internationalist just like most of his type. Like the senator (Lib) from Sth Australia who has moved into a high chair in the banking sector, they mostly get most things wrong. They do a great disservice.
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Some car makers are also gradually beginning to hedge their bets on the EV deadlines and the end of IC engines.
https://www.thisismoney.co.uk/money/electriccars/article-14838695/Great-EV-U-turn-Brands-ditched-delayed-electric-car-plans.html
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Remember the UK chancellor’s plan to ‘force’ pension schemes to invest in green rubbish and other government waste? The response:-
‘Lloyds Bank is to pull billions of pounds from Britain’s stock market in a major blow to Rachel Reeves’s efforts to boost the UK economy. Scottish Widows, the bank’s pensions division, plans to cut its exposure to the UK and move more money into better-performing markets such as the US.’
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I noticed that proportionately, the mid air rat jumping of the ship’s bow is quite large.
Then I realized that Net Zero Rats are large and fat.
I suspect they will land on their fat rat feet.
And have probably, before they hit the water, concocted a new scheme to steal the last of our cheese.
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As you ramble on thru’ life, Brother
Whatever be your Goal,
Keep your Eye upon the Doughnut
And not upon the Hole.
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So true!
“Follow the dollar” will always lead you to where the action is.
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It appears they are banking on petroleum which is high demand commodity that can last for another 100 years, allowing plenty of time to develop viable alternatives when the oil gets less common and more expensive.
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According to Goolag AI the situation with Australian banks is as follows:
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If AI provided the data, then I don’t believe it. AI lies. If a comment quotes AI, then I ignore it.
Here’s one of many articles.
https://www.psychologytoday.com/au/blog/harnessing-hybrid-intelligence/202505/ai-has-started-lying
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I don’t automatically believe AI unless I first check some of its facts or have foreknowledge of what it says is true. It sometimes provides a good summary once you agree that it’s not lying.
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It’s a major problem. If the bulk of the comments support man made CO2 driven rapid Global Warming Armageddon, AI agrees. It’s consensus intelligence, not actual intelligence.
And it’s not that the majority of people support this nonsense, but the majority of commenters on the internet do. Especially as you do not need to be an actual qualified scientist to be a Climate Science. Google, AI and you are set as an expert. I know. I argue with AI Climate diarrhea all the time. Even the graphs are all wrong.
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I reckon that if you rely on AI, you will eventually lose your faculty for critical thinking and analysis of evidence. Indeed, I noticed increasing warnings are appearing that society’s adoption of AI will eventually cause serious cognitive decline.
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It’s a sign of cognitive decline.
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Yes Vicki that’s evolutionary, don’t use it, lose it, lose wings or legs
or ability to recite the 7x multiplication table, once gone will it be retrieved?
Serfs think we are moving into a non-real world of movie utopia, science fiction and
the GODS intervening in our daily affairs, people won’t even argue face to face as was wont.
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AI suffers from the age old adage…garbage in, garbage out.
It’s like the weather computer models which the gerbil warming fanatics harp on about.
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Instead of AI
I call it AB
Artificial Bullsh*t.
Works for me.
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ESG and QSuper (part of the woke Australian Retirement Trust) –“the objective of the Australian Shares Index option and the International Shares Hedged Index option states that in addition to aim to closely match the returns of the performance benchmark, it also seeks to maintain a lower weighted carbon intensity ——- it reflects ART’s approach to sustainable investing which is guided by our legal duty to acting in our members’ best financial interests, our core investment beliefs, and our Sustainable Investment Policy. This includes consideration of ESG factors alongside other traditional financial considerations. Among the risks we must manage are those that flow from climate change and how governments and business respond to it”.
This policy change was instigated on 1 July 2024. As a member of QSuper I look forward to a reversal of this change back to serving the best interests of members and not of the government of the day. But I’m not holding my breath.
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Thanks to Trump and the Republican states for forcing the treasonous banks to think and hopefully they’ll now look after other OECD countries’ business interests for a change.
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Never forget that Black Rock’s Larry Fink abandoned the net zero lunacy and turned 180 degrees 8 months ago and now wants every business to follow the sane business path for growth.
So when will Australia start to wake up?
https://www.wsj.com/opinion/welcoming-larry-fink-black-rock-esg-growth-7bcfd62c?msockid=36919fe47079694334378ddc747967a0
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On the Twelfth
Of Never
And that’s a long, long, time.
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Consider that all those grifters involved in the climate change scam, no longer welcome in TRUMP’s United States, will be coming to one of the most fanatically woke anthropogenic global warming true-believing countries on the planet, Australia, to do their subsidy harvesting.
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Of course banks all know the climate scam or they’d never lend for seaside developments of any kind now would they…
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So how does Australia increase large scale W & S by 100 times to achieve their so called net zero BS and fra-d and at a cost or WASTE of 7 to 9 TRILLION $? Any ideas?
Here’s the opening quote again from the Renew Economy report……
“Australia will need nearly three terrawatts, or 3,000 gigawatts, of wind and solar if it is to meet its goal of a net zero economy by 2030, a plan that could cost up to $9 trillion, according to a new study”.
“The astonishing numbers are revealed in a new report – Net Zero Australia – put together by Melbourne University, the University of Queensland, and the Nous Group, and released on Wednesday”.
“To put the 3,000 gigawatts of wind and solar in some context, Australia currently only has about 30GW of large scale wind and solar across the country. So it has a lot to do”.
https://reneweconomy.com.au/net-zero-study-finds-australia-needs-nearly-three-terawatts-of-wind-and-solar/#:~:text=Australia%20will%20need%20nearly%20three%20terrawatts%2C%20or%203%2C000,to%20%249%20trillion%2C%20according%20to%20a%20new%20study
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Of course one hundred times increase by 2030 is just 4.5 years away.
Can these donkeys be any more DELUSIONAL?
So where are the MSM reporters or so called Scientists or perhaps a few sane pollies etc?
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Alas, mush for brains all. Of course all free thinkers are a threat to the blob so dis/misinformation legislation is needed. Remember you heard it first here on your trusted news service channel kark fizzz##? …splutter&* pop.. BOOM!!
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And of course, every windless night means 3000GW installed generates 0GW. Batteries are not generators either.
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Probably the best video explaining Australia’s net zero BS and fra-d.
Just 19 minutes but covers a lot and a number of graphs and real evidence.
https://www.youtube.com/watch?v=YkQN_ykte6M
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Global Banks are following the money.
As government subsidies dry up, reality takes hold, the Banks are funding what is Profitable.
It is all about the Money. Wind and Solar are DEAD without Govt subsidies. No place else to go than reality.
Reality is about what works. Oil/Gas/Nuclear/Hydro actually work, and have for the last 100 years.
National Economic Collapse is not what Bankers want to see. Bankers love to see the profits from Govt subsidy fraud, propped up by media hype, that allows for rampant grift and graft.
At the end of the day, Bankers want profits. And the W/S crowd can no longer provide those profits.
So, it is back to where everyone was before ideology and propaganda tried to hijack Physics. Reality always wins.
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From my social discussions with bankers I have realised that banks are all about profit for their shareholders and customers are the milking cows.
There are many examples.
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What did you think about them prior to realising?
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It is the international banking groups that want cashless societies, we must oppose this grab for more control and power.
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If there was no extra profit potential why would investors want to buy state government owned power stations and transmission lines and close the power stations, and then try to replace them with intermittent wind and solar equipment with batteries and all the other back up equipment and new transmission lines from each location to main transmission lines and new main transmission lines only required for efficient transmission of wind and solar equipment voltage?
US self made multi-billionaire Warren Buffett advised his clients a few years ago that investments into so called renewables would not be profitable without government interference in the market and incentive subsidies for profit before operating profit.
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Meanwhile, Pakistan is tagging their government budget to measure Climate mitigation efforts: https://blog-pfm.imf.org/en/pfmblog/2025/05/climate-budget-tagging-in-pakistan
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I wouldn’t worry though – we don’t even have an IFMIS in Australia, a change like this would take them years across the separate agency FMIS (the running of which the agencies generally contract out).
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American Blob interests need energy now for their AI, robots and Technocratic control of resources and people. Also, decarbonisation loses money without tax payers to subsidise renewables and pay big bills, while manufacturers can’t compete, hence the upset and anger and election of Trump.
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