The just concluded G20 in Rome will go down in history as the worst ever, unless the next one beats it. As reported in today’s briefing, host Mario Draghi introduced “His Highness” Charles Windsor Mountbatten to present his “sustainable Market Initiative” to the heads of state and government (18 of them, without Putin and Xi) in an unprecedented move in the Oct. 31 session. This was before the final communiqué was released.
Charles boasted about his success in getting corporations ("including from the financial sector"), representing $60 trillion investment potential, onboard the Green transition. However, those trillions will be mobilized under three conditions which governments must provide: 1) Clear policy guidelines and rules; 2) Aligning public and private actors including higher carbon prices; 3) “Sovereign Risk Guarantees.”
Especially the latter means governments must guarantee that there is a return on investment for Charles’s Davos friends.
Before the session with Charles, the leaders were gathered in front of the Trevi Fountain for a pagan ritual of throwing a coin in the fountain (there are two versions of this rite, the older one going back to the Romans propitiating the gods).
