The Wall Street Journal on Oct. 29 ran a long and laudatory story on British central banker Mark “Zero Carbon” Carney’s struggles, as UN Special Envoy on Climate Action and Finance, to pull together a coalition of banks to “shift the trillions” to green finance. Members of Carney’s “bankers’ alliance,” as they put it, are supposed to be committed to agree to “setting targets for less lending and investment in enterprises that produce carbon emissions; devoting more support to new, environmentally sustainable technologies; and publishing their progress on these targets each year.” https://www.wsj.com/articles/mark-carney-ex-banker-wants-banks-to-pay-for-climate-change-11635519625
(The tough stuff on “saving the planet” – going without work, development, food, heat, electricity – is reserved for the general populations, particularly of developing nations.)
Ironically, the article concludes with Carney’s battle crowned with success; he has “35 of the world’s 50 biggest banks” onboard. But not onboard, are any of the large banks in Asia – in China, India, Japan, South Korea, etc.
