From JoNova

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?