World Bank nominee aims to spend ‘trillions’ on ‘climate change’
Joe Biden’s pick for World Bank president this week said he aims to refocus the bank’s goal from alleviating world poverty to also “fighting climate change”
Former Mastercard CEO Ajay Banga was nominated by Biden last month to fill the seat of outgoing Trump appointee David Malpass, who is set to leave his post on June 30th.
Malpass was forced to resign in February after failing to adequately display ‘climate change’ alarmism.
When he was asked by a journalist in September whether “manmade burning of fossil fuels is rapidly and dangerously warming the planet”, Malpass demurred that he is not a scientist, sparking intense backlash which included pressure from the Biden administration to resign.
Now Banga is set to take Malpass’ place, though he also has little experience with environmental science, and has signaled he will make ‘climate change’ a priority for the World Bank, whose longstanding goal has been to reduce world poverty.
“I think it’s a fallacious argument that says, either-or,” Banga told Axios. “I have every intention of focusing the bank and its people on the idea that this is an intertwined challenge.”
“For climate change, it’s trillions of dollars a year. For inequality and poverty alleviation and development, it’s trillions a year,” he added. “You just have to get the private sector to be a constructive part of the solution.”
Banga’s zeal to recruit the private sector for ‘climate change’ duty may serve as a warning sign for those already concerned with the climate autocracy exhibited by financial institutions.
Some economists and lawmakers have been warning that banks and financial institutions are becoming the “new legislatures” particularly when it comes to complying with environmental messianism.
“They can’t pass the Green New Deal in the United States Congress,” said New Hampshire State Rep. J.D. Bernardy, “but the banks can certainly implement it. The major banks, financial management firms, and insurance companies are de facto deciding how we will be able to live. They are becoming our new legislatures.”
“I think it is highly likely that within the next two years, you’re going to see financial institutions start to use a personalized social credit score of some kind to make decisions about things like your access to loans, your interest rate, or whether you’re eligible for insurance coverage,” said Heartland Institute Director Justin Haskins. “All the signs are pointing to that happening very soon,” he said.
American Legislative Exchange Council Chief Economist Jonathan Williams predicts that if enough progressive pressure is brought to bear on the financial system, it would mean “having people’s freedoms eroded without any legislation ever having to be passed, whether it’s companies with a radical take on ESG or FICO personal credit scores.”
Last year, for example, a Dutch bank executive advocated for a social credit system centered around people’s ‘carbon’ emissions, which she called a “carbon wallet”.
The idea, said Rabo Carbon Bank CEO Barbara Baarsma, is that a limit will be placed on citizens’ ‘carbon’ emissions, which will be tracked via their transactions and purchases. People can then sell any unused “carbon credits” to others.
In Canada, a credit union now issues its customers Visa credit cards which track the ‘carbon’ emissions resulting from their purchases.
Vancouver City Credit Union, known as Vancity, introduced the product last month as part of its “commitment to climate action.” Vancity partnered with climate technology company ecolytiq to develop the card, which not only tracks customers’ ‘carbon’ emissions but also tells them how they can ‘remedy their actions’.
In Australia, a mobile app feature from Commonwealth Bank tracks the ‘carbon footprints’ of its customers based on their transactions. The app then analyzes the customer’s ‘carbon footprint’, including how many trees were destroyed by the customer’s behavior.
The customer is notified within the app and is offered the opportunity to pay to offset the harm they caused the environment.
See more here frontline.news
Bold emphasis added
Header image: Premium Times Nigeria
Please Donate Below To Support Our Ongoing Work To Defend The Scientific Method
PRINCIPIA SCIENTIFIC INTERNATIONAL, legally registered in the UK as a company 
incorporated for charitable purposes. Head Office: 27 Old Gloucester Street, London WC1N 3AX.
Trackback from your site.
Russ D
| #
Why I’m a Climate Denier and You Should Be Too
https://stream.org/why-im-a-climate-denier-and-you-should-be-too/
Reply
schutzhund
| #
Ecology as a social principle . . . condemns cities, culture, industry, technology, the intellect, and advocates men’s return to “nature,” to the state of grunting subanimals digging the soil with their bare hands.
The Ayn Rand Letter, III, 25, 1
Ecology as a social principle . . . condemns cities, culture, industry, technology, the intellect, and advocates men’s return to “nature,” to the state of grunting subanimals digging the soil with their bare hands.
The Ayn Rand Letter, III, 25, 1
Reply
Alan
| #
I saw a comment a few days ago that we should all adopt – “Never Trust, Verify”.
I also saw a Bonhoeffer quote from his letter about stupidly which also applies – “The power of the one needs the stupidity of the other.” We give them the power.
Reply
Jerry Krause
| #
Hi Alan and PSI Readers,
Your comment reminded me of a misconception about SCIENCE. Consider the following.
(https://principia-scientific.com/prove-or-disprove-a-nobel-prize-winners-approach-to-science/). “In his lab, Allison urges researchers to get rid of the idea that they can prove something with science. All they can do is fail to disprove.”
In a 1955 address at the fall meeting of the National Academy of Sciences, another eventual Nobel Prize winner, Richard Feynman stated: “Scientific knowledge is a body of statement of varying degrees of certainty—some most unsure, some nearly sure, but none ABSOLUTELY CERTAIN.”
Then later, in a 1973 Caltech commencement address, Feynman stated: “But this long history of learning how to not fool ourselves—is, I’m sorry to say, something that we haven’t specifically included in an particular course that I know of. We just hop you’ve caught on by osmosis. The first principle is that you must not fool yourself—and you are the easiest person to fool. So you have to be very careful about that.” (https://principia-scientific.com/cargo-cult-science/)
Have a good day
Reply
NecktopPC
| #
This is most likely their real PLAN:
Former Mastercard CEO Ajay Banga, now Biden’s pick for World Bank president, aims to transfer ‘trillions’ of dollars of personal wealth from the 99%ers, and into the personal bank accounts of the 1%ers, under the guise of ‘climate change’.
March 30, 2023 – World’s Largest Seller of “Carbon Credits” Exposed as a Scam Operation
https://www.investmentwatchblog.com/shocker-worlds-largest-seller-of-carbon-credits-exposed-as-a-scam-operation/
Reply
NecktopPC
| #
July 13, 2020 – Mastercard’s GAVI partnership is directly linked to its “World Beyond Cash” effort, which mainly bolsters its business model that has long depended on a reduction in the use of physical cash.
https://citizentruth.org/africa-to-become-testing-ground-for-trust-stamp-vaccine-record-and-payment-system/
January 23, 2020 – While at the World Economic Forum Annual Meeting in Davos, Switzerland, the Honourable Navdeep Bains, Minister of Innovation, Science and Industry, met with Ajay Banga, CEO of Mastercard.
https://www.canada.ca/en/innovation-science-economic-development/news/2020/01/minister-bains-announces-new-cybersecurity-centre-to-help-protect-canadians-online.html
Reply
Val
| #
More guilt-pushing, blame game, fear pandering, and control and manipulation using the unscientific and false premises with reference to changing climate. None of the things they say are ‘problems’ are really ‘problems’ for humans. These are humans who have zero experience with modifying a planets environment, but they’re willing to do it anyway, albeit on their own planet, where a mistake could be fatal for the entire population, by thrusting a falsely based control narrative on the population, Climate changes would be virtually the same whether humans are here or not, since over time these changes are natural occurrences which happen cyclically because of energy impact from the Sun and space, Go to any ‘climate change’ promotional website, and the hue and cry is about humans (changing the climate because of their existence. These people are dumber than a stump, and so are those who lack sufficient drive and intellect to discern the actualities.
Reply