categoryMenu_new
 
  Home
  EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  AbundantHope
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Announcements
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  OUR PUBLIC FORUM IS OPEN TOO ALL
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Candace
  Ron
  Rosie
  Jess
  Brian's Poetry
  James
  Giuseppe
  Esteban
  Telepathic Messages
  Candace
  Jess Anthony
  Vince
  Leonette
  John
  Adam
  Bela
  Joyce
  Hazel
  Kibo
  Peter
  Rosie
  Johan
  Lucia
  Lucia G
  Rubens
  Shellee-Kim
  Ben
  Dorothea
  Solon
  Others
  Targeted Messages
  Hano
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Gems from God Like Productions
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  THE WAVE
  Environment/Science
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
 
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  Education
  Resources
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Video
  Websites
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Scientific
  Spiritual
  Vegan Recipes
  Translated Material
  Dutch
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Artikelen/berichten
  French
  Canal Jess
  Par Candace
  Other Channels
  Articles
  German
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Italian
  Translations - Candace
  Translations - Jess
  Translations - Others
  Portuguese
  by Candace
  By Jess
  By Others
  Spanish
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Monjoronsón
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  Chinese
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

Search
[an error occurred while processing this directive]
Political Information Last Updated: Sep 17, 2021 - 8:10:58 PM


European Climate Bank: ECB To Scrutinize Bank Trading Books For "Climate Change Risk"
By Tyler Durden
Sep 17, 2021 - 8:08:09 PM

Email this article
 Printer friendly page Share/Bookmark

https://www.zerohedge.com/markets/european-climate-bank-ecb-scrutinize-bank-trading-books-climate-change-risk

Back in June we explained why contrary to the virtue-signaling intentions of its ideological proponents, the fraud that is ESG would likely trigger energy hyperinflation, destroying any hopes for perpetuating the "green" lie once billions of consumers realize it will cost them an arm and a kidney. And one place where this reality is already manifesting itself, is Europe where nat gas and electricity prices have hit new record high virtually every day in recent weeks, sparking angry protests as furious citizens refuse to pay their electric bills.

Spanish households are paying roughly double what they paid for electricity a year ago, prompting protests against utility companies.

So while one would think that Europe - the epicenter of the current energy hyperinflation phase - has learned its lesson and would ease back on central planning when it comes to energy policies to avoid even higher prices, one would be wrong because this morning instead of focusing on its sole mandate (and what it does worst) namely keeping inflation and unemployment stable, the ECB has decided to add yet one more mandate to its ever growing list of things its career economists needs to fix, and according to Bloomberg, the central bank "will look at the trading operations of major lenders as part of climate stress tests next year, after judging that an assessment of loan books alone won't give enough insight into the fallout they face from global warming."

The ECB - which now stands for European Climate Bank - will also study the reputational and operational risks banks face, Alvarez & Marsal, a consultancy firm that's involved in the process, told Bloomberg. In other words, if some bank is found to finance nat gas exploration it will be shamed in public for not being one of the ESG groupthink. The result will be even less investment in carbon development and - since green energy is still unviable without massive government subsidies and is also years away from even considering replacing carbon as an energy source - even higher energy prices.

Meanwhile, because the ECB doesn't already have enough things on its plate to screw up, the Climate Bank will now reach into banks' trading operations, which as Bloomberg notes represents an additional challenge for an industry that's already warned it's not ready for next year's landmark tests. The ECB is seeking more details than other central banks and, behind the scenes, has stepped up pressure on the industry to meet the moment.

Why this latest ridiculous push to centrally-plan and micromanage yet another aspect of everyday lives In Europe? Because in the continent, cowardly politicians - unwilling to take on the career risk of legislating the unpopular change they want - instead want banks to become a key plank in the fight against climate change by steering capital away from polluters. Investors are taking note as banks burdened by carbon-intensive balance sheets may face higher capital requirements, which could erode their power to pay dividends; it would also mean less maintenance capex which would lead to asset erosion and even greater energy hyperinflation.

"No bank has what the ECB wants," said Fernando de la Mora, a managing director at Alvarez & Marsal who's advising banks on how to prepare for the stress tests. "Global banks face the added challenge of finding data from regions outside Europe, which is limited."

The ECB, going to lengths not even Stalin's top economic "advisors" ever reached, is also asking banks for data on emissions associated with the revenue they generate, an approach the Bank of England opted against for its climate tests this year because of a lack of available data, according to Alvarez & Marsal.

Of course, getting the exact numbers is impossible, so euro-zone banks will have to estimate the carbon emissions of companies behind most of their fee and interest income. They'll also need to provide data on the emissions, loans and revenue associated with their biggest clients across industries, the firm's analysis shows.

In short, this is just the latest sheer idiocy from the ECB which is just creating work for the sake of creating work to give the impression that it is as the forefront of the great climate change revolution, even as banks merely come up with fabricated numbers. The decision to include banks' trading books adds a further layer of idiocy complexity to the exercise. But it will also allow the ECB to see what might happen to stock or bond portfolios if they're exposed to shocks such as losses on the debt of oil companies, de la Mora said.

Then again this is the ECB, so expect everything to be dead wrong as usual.

 




All writings by members of AbundantHope are copyrighted by
©2005-2021 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here


Top of Page

Political Information
Latest Headlines
Is the FDA Worthy of Trust ?
A message to all Original peoples across Australia and around the world.
British Propaganda Campaign Incited Mass Slaughter of Communists In Indonesia in 1960s, Declassified Papers Reveal
Q - WE ARE THE PLAN
"Cash Is Not A Crime": The Raw Tyranny Of Civil Asset Forfeiture
The ‘Plandemic’ and the Great Awakening
Sunday Talks, Lee Smith: Autocratic Scrutiny Begins Right Here at Home
UN Lobbies To Criminalise Opposition To Trans Extremism
PM Trudeau and Canadian Government Ban Phrase “Let’s Go Brandon” From Any Government Correspondence
Biden Calls For The Prosecution of Anyone Refusing Subpoenas in The January 6th Riot Investigation
Yes, Virginia, There Is A Deep State
Behind NATO’s ‘cognitive warfare’: ‘Battle for your brain’ Waged by Western Militaries
Leaked Audio: Army Doctor Tells Retiring Soldier With Medical Issue to 'take vaccine or face court martial'
The Fed Is Bailing Out The Wealthy As Everyone Else Pays The Price
Oligarchic Empire Is Working Harder To Bolt Down Our Minds In Service Of Its Agendas. And THAT gives us hope...
Navy To Separate Unvaccinated Officers Under Same Category Used For Drug Offenders and Sexual Deviants
Philanthropy Is A Scam
Sunday Talks – No You’re Not Crazy, YOU are a Doer
Pope Francis Compares George Floyd To Biblical ‘Good Samaritan,' Praises BLM Rioters For Being ‘Social Poets'
Global Public Debt Hits Record High of $88 TRILLION – IMF