Make no mistake, the UN “finance” cartel is the supermassive black hole at the centre of the climate-mafia galaxy.
The UN Environment Programme brags that across insurance, banking and investing, it has over 450 members representing more than $100 trillion dollars worth of carrots and sticks to beat up politicians and businesses with. These are the cogs and levers of the halls of global power.
It’s a UN programme, but the first “target setting” rules were launched at Davos at the latest World Economic Forum (WEF) meeting — the skiing holiday for corporate rulers and their celebrity minions. The Big unelected political powers holidaying with the richest people in the world. Democracy on a barbecue.
In 2021 many Insurance giants had rushed to join the global climate activist cartel designed for their industry — the Net Zero Insurers Alliance (NZIA) — which would have turned the insurance industry into another form of climate police answerable to the UN or the WEF. But it’s all coming undone now, thanks to the 23 US States who are pressing the Antitrust button. I mean, imagine if all the competitors in an industry got together to force political changes that the voters hadn’t voted for…
What if those companies colluded to make it hard for one type of energy business to get insurance?
What if companies that profit from fear itself colluded to amplify fears?
The NZIA behemoth is a part of the UN Glasgow cabal set up by former head of the Bank of England, Mark Carney. If they got away with this, the world would be just that much closer to One World Government — where unelected bureaucrats effectively “make the rules” and boss around the national governments.
Six of the eight founding signatories have already left. Departees include Munich Re, Zurich Insurance, Hannover Re, Swiss Re, Allianz , AXA and SCOR.
Insurers flee climate alliance after ESG backlash in the U.S.
LONDON/FRANKFURT, May 25 (Reuters) – A United Nations-convened climate alliance for insurers suffered at least three more departures on Thursday including the group’s chair, as insurance companies take fright in the face of opposition from U.S. Republican politicians.
At least seven members of the Net-Zero Insurance Alliance (NZIA), which launched in 2021, have now left including five of the eight founding signatories.
Departures on Thursday included AXA , whose Group Chief Risk Officer Renaud Guidée had chaired the alliance. The French insurer said in a statement it was leaving to “continue its individual sustainability journey.”
The media may try to downplay things but the critical factor here is that 23 US state attorney generals sent NZIA members a letter on May 15th.
Insurers which have left the NZIA, … say their exits will not change their individual commitments to addressing climate change.
Munich Re made it clear it was leaving because of the antitrust issue:
While other insurers didn’t provide specific reasons for their withdrawal, Munich Re made it clear. “The opportunities to pursue decarbonization goals in a collective approach among insurers worldwide without exposing [them] to material antitrust risks are so limited that it is more effective to pursue our climate ambition to reduce global warming individually,” said CEO Joachim Wenning in the firm’s announcement of the exit.
There’s nothing to stop these insurance companies chatting after canapes and champers at the next WEF meeting, but they can’t be openly colluding and that’s a step in the right direction. If some foolish insurers refuse to insure oil and gas development it won’t matter much as long as there are enough competitors to step in and take up their contracts. The danger of an industry-wide cartel is that insurers could de facto enforce policies that suit their billionaire backers against the wishes of the people.
And that is exactly what NZIA appears set up to do. The Lloyds boss is saying the rules are too harsh and the whole thing will fall apart if they don’t back off.
Lloyd’s of London boss calls for UN climate alliance rules rethink
By Tommy Wilkes and Greg Roumeliotis, Reuters
In response, Lloyd’s Chief Executive John Neal told Reuters the exits should lead to a rethink about what it means to be a member of the group.
“There are five objectives, and you have 12 months to meet one of them and 36 months to meet three of them. NZIA need to have another look at what their objectives are or the alliance will fall apart.”
General Reyes (Utah AG) explains why they sent the May 15 letter from 23 US States:
GOP warns insurance companies on ESG policies: ‘Americans are paying the price’
Brianna Herlihy, Fox News.
“The ESG movement has spread to every corner of the world’s financial and energy sectors, and unsuspecting Americans are paying the price,” Reyes said…
“Insurers have an obligation to protect the interests of their clients, not advance a radical environmental agenda. Utah is taking a stand against these efforts to stop the increased prices and other harms these horizontal agreements will cause,” he said.
Under antitrust laws, agreements not to do business with disfavored sectors – such as those that do not meet certain carbon emissions standards – could be an illegal boycott. Likewise, collective agreements to fix prices or restrict production are also illegal. NZIA members wield enormous market power, and their actions threaten to dramatically raise prices for consumers, according to the AGs.
The AGs said they have “serious concerns about whether these numerous requirements square with federal law, as well as the laws of our states, as they apply to private actors.”
“Under our nation’s antitrust laws and their state equivalents, it is well-established that certain arrangements among business competitors are strictly forbidden because they are unfair or unreasonably harmful to competition,” they wrote.
“For example, ‘an agreement among competitors not to do business with targeted individuals or businesses may be an illegal boycott, especially if the group of competitors working together has market power,'” they said, adding that collective agreements to fix prices or “restrict production, sales, or output” are illegal.
Ponder that the UN-WEF-banker cabal was roping the insurance companies into forcing “science based” carbon targets on every industry that needed insurance. Then remind yourself that the UN communications chief bragged last year that “we own the science” and she’s teamed up with Google.
“…(the Protocol) will enable NZIA members to begin to independently set science-based, intermediate targets for their respective insurance and reinsurance underwriting portfolios in line with a net-zero transition pathway consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100. With the launch of the Protocol, existing NZIA members are required to set and disclose their initial target(s) by 31 July 2023. “
Version 1.0 of the NZIA Target-Setting Protocol
So the UN WEF Banker cabal could effectively make anyone do anything if they call it “science” and sack all the skeptics.
Thank the Lord for the US Republican state power, and ask, where are the rest of our elected politicians?
Post Note: If you don’t know much about the WEF, start reading here. It’s worse than you think. The richest people in the world are here to help us, they are the “select few” touched as our saviours. Climate lockdowns are coming and you will need to ask permission to leave your 15-minute-suburb. They said that.
REFERENCES
NZIA Home page: ” NZIA members have committed to transition their insurance and reinsurance underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050.”
Attorney General Sean Reyes, Utah Asks Insurance Group to Disclose ESG Commitments
Great to see that the ‘Pushback’ is slowly gathering pace. And about time too. Onwards and Upwards.
350
I haven’t seen much push back in Australia. I see a lot of politicians either silent or trying to out green one another. Andrews has shut down coal and gas and his latest target is the logging industry. Victoria will be a mendicant state relying on the others to survive. Let us hope the blackouts there will be severe and long lasting. The opposition is worse than useless; it is colluding with Andrews, a true uniparty. The Victorian Liberals are led by Persutto the lady killer.
440
‘Mendicant’ such a great word. Should make Victorians ashamed . .
200
I didn’t vote for the dictator…
Why should I and others like me be ashamed?
180
We had Matt “Green” Kean running things here in NSW and as a result of his policies and energy leadership *cough*, our coal plants were run into the ground with little critical maintenance and no investment (why throw money away when policy was killing the industry?). Liddell has closed and Erring scheduled to closein 2025.
Thanks to the Green CO2 is evil usurpation of our finance sector and governments through its use of useful idiots here, we are on the verge of energy chaos. And sadly we will all suffer because of the idiocy of the loudmouthed lackeys.
300
Victoria a mendicant state?
This isn’t the first time. Remember Cain and Kirner.
160
Why is there “mend” in mendicant?
10
Victoriastan has more debt than all of the mainland states combined,
60
Is this what changed PM Morrison’s mind about Net Zero. Was he backed into a financial “ corner “ by the cartels that govern which countries get financial loans, aid, favourable treatment, conditions, rates.
Was he blackmailed. Is the ALP being blackmailed or offered “ Joe Biden “ incentives for individuals in government.
Certainly, investigation by those who have resources, influence & a spine to get moving.
Just a hint of collusion would bring the whole Net Zero fallacy crashing down & fill a few jail cells!!
481
Graham,
Not a chance of anything changing until accountability resumes . KAOS is in charge for real and we don’t have anyone brave or “smart” enough to save us.
150
Its compliance with their system that will bring us undone, to stop this just stop doing what they tell you, move away from convience. Stop using credit cards and go back to cash, as Visa and Mastercard are also partners. Get off the digital Titanic you have all boarded and lose those smart phones.
The solution is simply not complying, or going down with the ship, its always been your choice.
90
We could always offer Trump a job!! He certainly qualifies!!!
50
Blackmail? It looked like blackmail, especially with Barnaby Joyce having so little to say about it, but nobody tried.
Why did the Nationals cave in, after having held the fort for 17 years? Was it Stockholm Syndrome? They must have been worn out by having to oppose so many Liberals. And the Prime MInister had caved in. He stepped back when he should have stepped forward, and must have demanded that the Nationals kowtow..
There were threats from Europe of counter measures against countries that refused to join in the AGW scam. Blackmail that may be, but it was never put to any test. The threats were only substantial because we caved in.
60
I don’t support net zero emissions, in my opinion it would if achieved end up net zero economic prosperity.
However, at the Glasgow Climate Conference then PM Morrison was pressured by IPCC, UK and US leaders, to;
* Ban coal mining – he refused.
* Increase the Paris Emissions Target – he refused.
* Adopt net zero emissions – he refused to sign an agreement. He said Australia will have an aspirational goal but based on development of new technology, and without damaging the economy.
While in the UK PM Morrison also had discussions with the UK Government and Rolls Royce UK on nuclear energy generators, specifically Rolls Royce SMR technology.
Around that time back in Australia the Morrison Government made recommendations to the responsible for development approval State Governments that 4 new gas fired generators be built, 2 in NSW and 1 each for VIC and QLD.
Also, for NQ a new coal fired power station and offered Federal Government underwriting finance.
111
So it’s therefore the 51% of the LNP party room, the Luddites as I generally refer to them as, that are the cause of the LNP never measuring up to expectations. Always falling short of what the conservatives should be doing. Even this revered institution has been infiltrated & overwhelmed by the socialist diseases!
Is there anyone in the LNP capable or even interested in reinventing the LNP.
No! I thought so!!
40
The EU won’t do trade agreements with Australia unless we follow the Green line they are punishing the people of Europe with. Never mind it’s driving Germany into the ground and got Macron in a spin, trying to please God and Satan at the same time.
50
I think a better word is pressured or coerced into supporting net zero and part of that also included the AUKUS deal, which was signed around the same time. There were also threats from the EU about trade tariffs for nations that didn’t sign up. BUT, Schomo was a weasel because he knew that Net Zero was an ideologically driven target without any technological means of achieving and the COP 26 talks were held against a backdrop of a self inflicted energy crisis caused by Europe’s own Net Zero obsession. Rather than hold firm on logical principles, he folded faster than a piece of paper at an origami tournament. And now with Labor at the helm we’re sinking faster than the Titanic with energy price rises in an exponential climb and energy availability on the way to becoming as rare as hens teeth.
50
The pervasiveness of Nett Zero has been amazing, like the Transgender movement or BLM or Woke. They are all fake. But Nett Zero is not based on any alleged injustice or social view. It is based solely on the idea that fossil fuel CO2 is killing the planet. And there is no evidence of that at all. The simplest fact is there is almost no man made CO2 in the air.
But it shows the collective power of financial institutions and their self indulgent bosses to dominate democracies. Because totalitarian states, military dictatorships will not have a bar of it. And cannot believe their luck.
The greatest evil of the 21st century is not racism, discrimination or poverty. It is the resurgence of fascism in prosperous Western democracies. And even China has moved in that direction. It’s all about the money, in particular the trillions in Climate Change and the power over what people think.
The fact that there is no scientific basis for man made CO2 means science and sociology is now decided by bankers and large corporates. Davos is becoming an open conspiracy.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
― Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
That is not acceptable in a democracy. But it still may succeed when they are in lockstep with the compliant press corps who really believe they should be running the place. Associated Press and their ABC and BBC for example. They make the accidentally rich Biden family look honest.
540
The Adam Smith quote is correct TdeF, but then he goes onto say:
In other words, government regulation should not protect businesses against competition from competitors as happens now where, for example, expensive inefficient producers of electricity like solar and wind are protected from competition from cheaper and more efficient coal and gas electricity producers.
480
Davos is an opportunity for many of the powerful unelected bosses to job hunt. These are ambitious people who have reached the top but want more. And few have done any more than climb the greasy pole and need a forum and purpose, so one was invented by Hitler Youth Eric Schmidt. It’s fascism at work.
They dine with their peers, give press interviews, travel in the company private jet and pretend they are the princes of the realm. Its a picture of preRevolution France, the unelected nobility at play. And has been created knowing the hunger these people have to strut and preen and network. Just as in Versailles or any court of Europe. Obersalzburg revisited with Eric Schmidt living the dream.
And their mortal enemy is not the communists. It’s Conservatives. Especially Donald Trump. And Meloni and Orban. Anyone who questions Climate Change, windmills, electric cars and their right to get richer and more powerful based on fraud. Nothing delivers like a fantasy, a fake science based religion. And its going well. Windmills rule everywhere.
550
An outstanding summary of the situation and I’ll grant you, “That is not acceptable in a democracy. “
60
ESG compliance is used as a major weapon by the Left to bully corporations and force then to follow the Official Narrative.
Compliance with ESG objectives leads to a certain “social credit”-like score.
Fortunately the thinking community is fighting back, Bud Light and Target (USA) being two recent examples resulting in loss of sales and shareholder value. Bud Light may not even ever recover from the damage.
In Australia Westpac (bank) provides ESG scores:
SEE LINK FOR REST
It would good to have a conservative-oriented score to encourage investment in non-woke, non-ESG corporations, e.g. where people are promoted on merit, not quotas, among many other possible metrics etc..
330
It’s interesting insurance could become a factor in the cost of EVs cause the issue that If an EV battery is damaged in an accident the EV is effectively a write off. The industry also has tried to use climate change to inflate premiums for fire and flood insurance when in fact the risks are no higher than they have ever been.
300
I think that once the high repair costs of EVs become an issue, Eco-loons will force government to spread the insurance costs across ICE vehicles as well, thus subsidising EV insurance. I have no doubt that the Australian Government would happily comply with the demand.
250
Yes, my house and contents insurance went up 70% at my last renewal, I asked why and they said due to the recent floods in the area and the associated risk to my property. We had no floods, and were 30-40ks away from the closest floods yet we were “at risk”. So I went looking elsewhere for another insurer and got a much better deal for full insurance, including floods!
I agree if you live in a high risk area for floods/fire then you should pay more as your risk is higher, but stop spreading the costs across to other customers for their risk.
210
Many thanks to the Republican states and will De Santis and Trump pick up this voter rich ball and run to the next election?
If not why not when we know that TOXIC W & S are UNRELIABLE disasters and will never power a modern first world economy, EVER?
BTW the so called roaring forties at King island are just a tiny breeze and solar and the clueless battery have gone missing AGAIN.
Yet the Bowen and Albo donkeys reckon we can close down our wonderful COAL and GAS generators and power Australia with these TOXIC, UNRELIABLE disasters?
If this isn’t barking mad lunacy then what is it?
https://www.hydro.com.au/clean-energy/hybrid-energy-solutions/success-stories/king-island
300
I watched that for several minutes Neville. Wind dropped to 7% at times, solar 1% all the time. Where would they be without diesel? Diesel up to 91%!
It was much the same when I looked on previous occasions.
200
Neville, what does the “Flywheel” do in this set up?
60
It is a very heavy rotating mass that is “spun-up” when there is spare energy, and is used as a source of energy when there is a lull in supply.
It can’t really store a lot of energy for any length of time because it slows down as you use its energy…
… so it is better to think of it as a large buffer for erratic input to try to smooth out the supply.
90
Is a flywheel any different from the Synchronous Condensors SA had to install? I heard they were useful in blackouts, but only for a second, just long enough for the system to load shed.
50
The condensors would probably be able to discharge a lot faster than a big flywheel.
You can’t get energy from the flywheel any faster than it is rotating.
So you would get a “gentler” smoothing from the flywheel.
I would have to “study up” on the differences to be more precise.
70
PS.. also, the flywheel would only be used in situations where not much energy is involved… like King Island.
The size of a flywheel needed to stabilise the SA supply… would probably have to be powered by something like a coal fired power station. 😉
Note.. the main power rotor in a coal fired power station is essentially a massive, regulated flywheel.
60
In short, not much.
40
It is 1411 hrs and the King Island Dashboard shows wind about 24% (it bounces around) Solar 1% and Diesel 75%. Good old diesel for reliability. The flywheel is consuming 80 kW just to keep it up to speed. It’s role is to iron out the fluctuations which occur by the second. It would be interesting to know the real cost of the KI power station with so many add ons and cut outs when a straight diesel would just hum along. What waste and what hubris to think that they are saving anything let alone reducing CO2. BTW KI is in the middle of the roaring forties and wind is 24%?
60
Thanks Neville. Be interesting to know the actual savings in diesel fuel consumption for the total cost of the renewables installation.
Probably like Windorah. No reduction in diesel fuel for a multi-million renewable installation.
Plus never-ending maintenance.
More than 100% useless.
80
Perhaps even the crazy Germans are starting to wake up to these violent leftie climate thugs and eco-terrorists?
We can only hope it’s true and they carry on until they’re defeated.
https://wattsupwiththat.com/2023/05/26/germans-appear-to-have-had-enough-climate-disruption/
170
Around the world, there are many people waking up to the insanity but I think Australians are far more dumbed-down than others and I don’t see too much evidence of waking up locally.
Evidence of Australians being dumbed-down is that they keep voting in the Labor faction of the LibLabGreen Uniparty. At least the Liberal faction is slightly less bad than the Labor faction.
Present company accepted and my friends, Australians have little awareness of world affairs and especially climate and covid issues. But they will be able to tell you the minutiae of any local sporting event.
As Donald Horne said in 1964:
Little has changed since then.
271
NZIA
Am I the only one noticing a similarity between the 4-letter acronym and another that is associated with the “Third Realm”?
220
The science of the UNIPCC and the UNFCCC is seriously flawed on multiple issues, but it is the UN-sponsored version that gets blasted out via its huge media machine to every country of the world and the UN keeps creating agencies and “alliances” to try to enforce it.
The real liars in all this are the UN and its agencies, the insurance companies were just in it because they saw potential financial gains.
180
On GB News Neil Oliver tells us it’s not so much a Green Agenda but a GREED agenda and he gives us a good nine minutes of some of the detail of the latest Clintel report.
And I love that Scottish accent.
https://wattsupwiththat.com/2023/05/26/neil-oliver-theres-nothing-green-about-the-green-agenda-just-plain-old-greed/
160
Many thanks. He was so objective, factual and sensible, I felt compelled to comment as follows..
“Great sense. My point as a signatory of the Clintel document is very simple. No other argument is needed. The simple fact is that there is only 3% fossil fuel CO2 in the air. So whatever the 50% increase in CO2 means, it’s nothing we did and nothing we can do anything about.
In 1958 after the discovery of radio carbon dating the amount of fossil fuel CO2 in the air was measured at 2.0+/-0.15%.
And this 2023 paper from Portugal is only the latest. (and references the 1958 paper by New Zealander G. J. Fergusson.
https://www.mdpi.com/1099-4300/25/2/384#:~:text=The%20residence%20time%20in%20the,dioxide%20mass%20of%203403%20Gt.
(1) The adjustment time is never larger than the residence time and is less than 5 years.
(2) The idea of the atmosphere being stable at 280 ppm in pre-industrial times is untenable.
(3) Nearly 90% of all anthropogenic carbon dioxide has already been removed from the atmosphere.
So while all those arguments are great, fair, true. The reality is that we cannot change CO2 if we tried.
And even NASA has observed that since 1988 the world has greened by an amount equal to Brazil. This means CO2 has gone up 14% and the world has greened 14%.
And how many ‘carbon farmers’ and carbon credits are worthless if it is abundantly obvious that more trees does not mean less CO2. Nett zero is nonsense. It’s not that say a billion trees do not sequester CO2, but that more comes out of the ocean to replace it. This is the equilibrium of dissolved gases dictated by Henry’s Law.
If CO2 went up, its not our fault. And if that produces sea level rise and warming, there is nothing we have done or can do about it.”
230
I also collect facts from scientific papers. My confusion about the Carbon Cycle was resolved by “Carbon cycle modelling and the residence time of natural and anthropogenic atmospheric CO2, (1997) by Tom Segalstad” http://www.co2web.info/ESEF3VO2.pdf which shows up the scientific fraud in the Carbon Cycle. The IPCC “Cancelled” Henrys law. So the answer is that Ice core data shows that there is a 800 year lag for natural CO2 level increase. The Medieval Warm period peaked 800 years ago, so that proves that most of the increase was natural CO2 from the deep Ocean which has a 275 to 1 ratio mixing with the Atmosphere over a period of 800 years. The upper Ocean has a 50 to 1 ratio mixing with the Atmosphere over a seven year period. So that would explain why nearly 90% of all anthropogenic carbon dioxide has already been removed from the atmosphere.
The statement ‘there is only 3% fossil fuel CO2 in the air’ is not really correct. I read a paper that said that 4 percent of the 400ppm of CO2 was man-made and volcanic. That was 6ppm for Man-made CO2 and 10ppm for volcanic CO2. So that would be ‘only 1.5% fossil fuel CO2 in the air’
Also the ocean contains more than 50 times as much CO2 as the atmosphere. Most of this is stored in the very cold benthic layers of the ocean. The solubility of CO2 in water depends on temperature. The warmer the water temperature the less CO2 it can dissolve. So the higher Ocean/Atmosphere ratio of carbon dioxide in the atmosphere today, was caused by the Medieval Warm period 800 years ago, not by man-made emissions.
190
Thanks Paul.
The link doesn’t work for me.
This one should work: https://www.co2web.info/ESEF3VO2.pdf
80
Very interesting observation with volcanoes being a source of ancient CO2. I will follow up to see how they determine that number. All my logic was based on fossil fuel as the only source of CO2 without C14. What is certain is that any contribution from volcanoes will reduce that number.
I also believe the CO2 changes are rapid. The ice cores cannot record rapid changes. I would expect there is leaching between layers, enough to remove the time resolution and that is enough to eliminate relatively rapid CO2 changes on the scale of only decades or centuries. Ice cores give a picture over thousands of years and establishing two ways of measuring anything can just be bolted together is really prohibited without parallel testing. We are already suffering the consequences of bolting tree ring data onto thermometers as with Michael Mann’s hockey stick.
30
“I read a paper that said that 4 percent of the 400ppm of CO2 was man-made and volcanic. That was 6ppm for Man-made CO2 and 10ppm for volcanic CO2.”
The problem I have with that is the half life of 5 years for any CO2. We know the rate of human CO2 but for volcanic CO2 to play any part, even the dominant part, the output would have to be continuous and constant. Is there any explanation for continuous output of CO2 from volcanic sources and unless diffuse they would be visible to the latest NASA CO2 satellite scanning technology.
Also the 3% is accurate, regardless of the source and close to 3.0% from my calculations. Which is still a lot more than the 2.0% of 1958.
20
Hey, I read this article from Joanne, and after reading this part right at the top: (and then the rest of the text)
the first thing that came to me was that this is similar to ….. a ‘Bubble’.
You know, like the South Sea Bubble, the Tulip Bubble, and all the subsequent bubbles.
Where people who know absolutely nothing about it (renewable power) sink all their money (and everyone else’s they can lay their hands on) into it.
Coming from a background in electrical power, I could never figure it out, how people got sucked into all of this renewable power hype, and even though there’s enough background on the power generation aspect, no one really took any notice of it all, instead, just falling over themselves to ‘have a piece of it all’.
And it just kept getting bigger and bigger ….. but the same initial problem never changed.
It doesn’t deliver the power to replace what it has been purported to do.
When it all comes crashing down, I wonder what’s going to happen.
I mean, here in Australia, coal fired power has a Nameplate of 21,000MW. (Now that Liddell has closed)
Renewables have this Nameplate.
Wind – 10277MW
Solar – 8809MW
Rooftop Solar – 20000MW
That’s just the preferred choices of renewables, and that’s 39000MW. Add on almost 8000MW of Hydro and you have 47000MW
Way more than double coal fired power.
Umm, why haven’t they just shut down ALL of those coal fired plants, and all the natural gas plants as well ….. years ago!!
Tony.
330
The difference between the unreliables bubble and all the other economic bubbles is that in the case of unreliables, the “investors” can’t lose as Government has guaranteed that taxpayers and/or consumers will pay them their ill-gotten gains.
This is why it was so important for investors to get the masses, the media, politicians, what used to be academia and of course, the slave army of useful/useless idiots of the Left on side – to ensure there would be little or no opposition to their schemes.
All investors are winners.
All non-investors are losers.
And this is the biggest wealth transfer from the poor and middle classes to the mega-rich that the world has ever seen.
220
David,
The current finance system is corrupted and is unsustainable . Reality has departed and won’t return until we have harvested the consequences of this . You and the bloggers here know whats coming . Prepare . Luck and geography have saved us in the past but this time we potentially are in the front lines .
90
Tony, this is not like the Tulip bubble though. In a free market investment bubbles go pop. This is a supremo control bubble, and it may succeed through sheer bluff and bullying to coerce and cajole their way into global power. It’s a governance bubble, but when they get big (Soviet Union, Pol Pot, North Korea, French Revolution) they often start-middle-and-end in bloodshed and revolution.
We’re losing the free market potentially, that’s why this is so much more scary than a mere investment bubble…
140
“Umm, why haven’t they just shut down ALL of those coal fired plants, and all the natural gas plants as well ….. years ago!!”
You And I both know the reason, and it’s because ‘unreliables’ are as reliable as a two bob watch.
30
And apart from that “nameplate” is meaningless, as Tony has pointed out so many times. Not only unreliable but will only ever deliver an average over all intermittent sources of about 25% of nameplate, but not always when needed.
50
The UN and WEF partnership https://www.weforum.org/organizations/united-nations
Companies signed up to the conspiricy, go to partners and select any letter to see the size of fight. https://www.weforum.org/partners
Its 2030, you will own nothing and they will be happy.
160
Is that supermassive steam punk doorway the entry to the supermassive black hole at the centre of the climate-mafia galaxy?
90
No. It’s a mixed metaphor, but the black hole galactic images were sparkly beautiful calm and serene, not the effect I wanted of dark grungy intimidating power.
20
We need a list of Australian insurance companies owned by or associated with these big insurers.
It horrifies me that I might be giving my $4000 a year to a company owned by them, or one that re insurers with them.
Does anyone know where I can find such a list?
100
Just stop trying, They are all owned by large behemoths in London / Europe and the states. Just relax, lie back and think of England. I have family in the game, high up and it is amazing how the industry revolves around a few(three companies)worldwide
100
Put the name of your insurance mob into the search on Yahoo Finance, (Holders) if any name comes up like Blackrock, state street etc, as majority shareholders https://au.finance.yahoo.com/quote/SUN.AX/holders?p=SUN.AX
go to the partners link and look. https://www.weforum.org/partners
Vanguard is not listed as a partner, but they are the majority owners of Blackrock anyway.
Everything is hidden in plain site, just gotta look.
All your money gets to them eventually as they own everything. IGA are run by Metcash, major shareholder is Vanguard.
70
Once again Republican legislators are queering the market and limiting personal choice. The big insurers are very well informed about the future risk and realise they are the ones who will be paying for climate related disasters. Policy-holders will discover that premiums will rise or they may not be able to insure as a result.
120
What disasters? There are fewer casualties now than ever before despite more people, more land being lived on and greater reporting due to satellite surveillance etc..
https://ourworldindata.org/natural-disasters
150
Simon follows the “science”, those that can’t do, follow.
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Except he does NOT follow the science, he follows the leftist non-science mantra politics of the IPCC.
If he followed the actual science, he would know that there is absolutely nothing untoward happening with the climate.
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It’s always the same isn’t it Simon? Some bad stuff is definitely coming this time, even though almost every other prediction from the carbonista team bombed.
You have a very screwed idea of what “personal choice is”. It’s my personal choice to be able to get insurance from companies that are not in thrall of pagan witchcraft and working as police enforcers for a quasi-global-government that I can’t elect or throw out.
You can choose to pay higher premiums now to cover the cost of disasters that never come… but your insurance companies may go broke if they get hit with major frost damage claims they didn’t see coming.
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And I should similarly be permitted to have my pension in companies that try to be environmentally sustainable. We have very different world views, I see a competitive investment marketplace rather than a global conspiracy. We should both have the opportunity to invest and insure according to our beliefs.
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So you agree that nobody should be FORCING companies to adopt ESG principals by removing competition and creating financial penalties…
(which is essentially what WEF/UN etc are trying to do… called anti-trust in the US)
They are trying to use their financial power to create an insurance culture where only their ideology is allowed.
That is a highly marxist/fascist/totalitarian they have CONSPIRED to attempt, and one you have just said you are against.
Good to see you backing Jo’s post.
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Doh Simon: ” I see a competitive investment marketplace”
When $100T of competition are signing on to the same policies it’s not competition, it’s collusion.
To put that $100T in perspective consider the largest 15 national economies in the world only add up to about $62T.
I have no problem at all with some companies placing irrational Woke bets and offerings. Bud Light is as free to destroy its brand name as anyone else.
You also are free to spend more on insurance to protect you from rising seas, melting glaciers, and alien invasions. That you think I have any problem with that only shows how bad your reading comprehension skills are.
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“protect you from rising seas, melting glaciers, and alien invasions.”
Don’t forget The Big Bad Wolf… or “exhaust” from pigs or elephants with wings !
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Very religous phrase Simon.
Funny how now you are trumpeting, Freedom of choice, after spending the last three years demanding everyone do as you do.
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The ONLY future risk comes from the actions of climate cartel.
It is attempting to DESTROY society as we know it.
Some people think they will be better off, but they are only deriving huge benefit from the climate cult or are scientifically unaware cult vassals, troughers and/or hangers-on. They will suffer just as much from the WEF/UN totalitarian future as everyone else will.
Premiums will definitely rise as they implement that anti-society agenda.. that is aim.. to destroy western prosperity.
They will not rise from any real “climate risk” because that is not changing, only from the climate agenda. (eg wind and solar erratic intermittency carries severe risk for many manufacturing businesses.)
There is absolutely no evidence that a naturally changing climate (which is what we have, a very slight but highly beneficial warming out of the coldest period in 10,000 years) will cause any increased “harm”.
The actual real data shows NO CLIMATE EMERGENCY
The actual real science shows increased atmospheric CO2 has absolutely ZERO harmful effects, only beneficial effects for all life on Earth.
Everything else is just a fantasy derived from childish non-science computer games.
Big question is, why are some people are still gullible enough to fall for it.!
Do such gullible people still “believe” in the Big Bad Wolf. ? !
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Neil Oliver explains… try to listen and get a better understanding of the cult you are supporting.
There’s nothing green about the green agenda… just plain old GREED!
https://wattsupwiththat.com/2023/05/26/neil-oliver-theres-nothing-green-about-the-green-agenda-just-plain-old-greed/
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On the other hand, the complementary argument should also be considered just in case the inverse becomes the obverse.
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The “predicted” (LOL) sea level rise should see all the uber-rich seaside and waterside denied insurance.
That would be funny to watch. 😉
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What would be the result of a large number of people who own their houses just stopping their household insurance. Where I live I am never going to be in a flood or bushfire. I reckon I could cover buying any stolen goods comfortably. I just can’t think of a scenario where I might use my household insurance in the foreseeable future.
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And then an electrical fault caused house fire, not uncommon.
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Same here.
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As always, follow the money, state AG’s bought and paid for.
https://nypost.com/2022/06/08/how-george-soros-is-remaking-americas-justice-system/
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It’s always about arm twisting. Trying to get compliance one way or another. Making rational people do what is irrational. It’s pushing East Germany on everybody. It’s evil.
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“The ESG movement has spread to every corner of the world’s financial and energy sectors, and unsuspecting Americans are paying the price,” Reyes said.”
Must be why our power bills are increasing while the clowns tell us that unreliables are the cheapest.
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It’s insidious… imagine vehicle insurance companies being forced by the NetZero Cabal to double, triple or more the insurance rate on your ICE-engine’d vehicle to ‘nudge’ you into EVs… because that’s what’s in the works. If the government isn’t allowed to mandate you drive an EV, the globalist communists will force you to do so via other means.
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Another study has found that the Arctic was ice free during the summertime of the early Holocene about 10 K years ago.
This can be added to the other studies that show a warmer Holocene optimum for many thousands of years. IOW a big surprise NOT.
And even their ABC tell us that our Aussie coastline SLs were 1.5 metres higher just 4 K years ago.
But will we ever WAKE UP and hopefully end their ongoing fraud and corruption? Who knows?
https://wattsupwiththat.com/2023/05/27/aarhus-university-researchers-find-arctic-warmer-ice-free-in-summertime-10000-years-ago/
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State Farm Halts Home Insurance Sales In California
State Farm attributed the decision to three factors:
“historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.”
…
In California, insurers have also been contending with high wildfire risks, and many have curtailed coverage in wildfire-prone regions, or clamped down on homes that lack certain fire-thwarting characteristics, which range from building materials to clearing space between the structure and surrounding trees.
https://www.zerohedge.com/markets/state-farm-halts-home-insurance-sales-california
Lacking “fire-thwarting characteristics”. I thought that was just Green policy – and not confined to Cali either.
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[…] Global Insurance Heavyweights and the ‘Green’ Movement: We’re joined by science communicator Joanne Nova. Joanne explains to us the importance of having six of the eight founding signatories of the UN Environment Programme leave the programme. Are we witnessing a shift in the stance of global insurance heavyweights away from the ‘Green’ movement? Discover the implications and potential signs of sanity prevailing in this important domain and you can read more about the details including media releases from the companies themselves here. […]
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