The agenda is being pushed by many of the biggest names in finance, including major banks, investment houses, and wealth managers. If successful, the financial institutions’ agenda would create a two-tiered economy, with the “woke” class slated for preferential treatment and dissenters relegated to picking up the scraps, the experts said.
“Woke” in this sense refers to a set of progressive views that have dominated establishment circles in government, academia, and the corporate world.
The companies are promising they will give preferential treatment to clients that run their operations in a “sustainable” manner. That means clients will have to implement policies that, in the banks’ view, reduce carbon emissions or promote a number of other goals, such as “gender equality” and “racial equity.” Clients that don’t support carbon reductions should face penalties such as “exclusion” and “divestment,” according to the guidelines of the United Nations-backed Net-Zero Banking Alliance, which counts dozens of major banks among its members.
“Notice that this consortium of banks and asset management firms, the largest in the world, aims ‘to boost private clean-tech finance and press polluting industries that use their services to cut emissions.’ That is, they will use their financial power to squeeze non-compliant producers out of existence by virtue of directing investments toward favored reset partners,” he said in an email, referring to the “Great Reset” toward “a fairer, greener future” proposed by the World Economic Forum (WEF) and its head, Klaus Schwab.
While the financiers may not be able to completely eliminate non-compliant businesses, “the planners are creating a two-tiered system, with preferred producers/distributors on top and the non-woke producers/distributors beneath them,” he said.
Despite the complaints about crony capitalism today, “the Great Reset, social responsibility, and stakeholder models [currently advocated by many large corporations] run the risk of getting us even more cronyism than we have now,” he said.
“The agenda is being pushed by many of the biggest names in finance, including major banks, investment houses, and wealth managers.”
Banks and finance institutions require government licenses to operate. Threaten those, and you can make them do anything. Mostly, it isn’t the people running finance that want this crazy greenness; it’s government.