https://www.bloomberg.com/news/articles/2024-12-03/bankers-to-start-including-counterfactuals-in-carbon-accounting
By Jo Nova
What other industry gets paid for what they could have done, but didn’t?
The carbon market is the perfect scam-quasi-tax currency for our banker overlords. They were always trading reductions in an invisible gas, now they’re trading reductions from an imaginary increase that may never have occurred.
Carbon credits were always atmospheric nullities that “might theoretically change the weather”. Now they’re less…
It’s a nice gig if you can get it. This elastic game can expand to cover as much of the economy as feasible. The bankers payout is limited only by how much they can squeeze out of their political vassals. Homeowners will not get a “carbon credit” for turning a heater off that they might have left on, or for not-buying a second-hand Dodge Challenger Hellcat. This is a game only the uber rich money-changers can play. The Blob has effectively set up a secondary fiat currency in the world that has a Byzantine web of rules that they control but has no physical products for delivery.
As Steve Milloy says — Coming soon: Unending bank climate fraud
Bankers Find Way to Claim Credit for Avoided Emissions
Bankers will soon be able to claim credit for emissions they say their financing has helped avoid, as the world’s largest voluntary carbon accounting framework for the finance industry works on broadening standards.
Under the approach, banks can assume a counterfactual scenario in which emissions remain elevated, and contrast that with the CO2 avoidance their loans or bonds enable, according to the Partnership for Carbon Accounting Financials.
Note the galactic size:
PCAF’s proposed standards are part of a larger package of changes and additions that will result in at least 90% of assets under management globally being covered by the carbon accounting system.
Why stop at 90%? When will it end?
The idea came from the Monster Banker Cartel, so we know it will benefit the bankers:
The Glasgow Financial Alliance for Net Zero, the largest finance sector climate coalition, introduced the idea of a new metric last year to drive transition finance, calling it expected emissions reductions (EER). The basic principle is that finance firms compare the emissions associated with the entity or asset in a business-as-usual scenario with those achieved if that company implements a science-based transition plan, or if a polluting asset is eventually shut down. The so-called delta is the EER.
Of course, companies drop inefficient products in favor of better ones all the time, but now, they’ll be able to say they’re reduced the emissions they expected to have, and thus earn some carbon credits that they can sell to some other sucker, or use to offset their charter jet flights to Azerbaijan.
This will work best for corporate behemoths who can afford to pay “climate lawyers” to fill in the forms, and “climate lobbyists” to bend all the rules to suit themselves. It’s another tool to make life harder for small businesses and customers but easier for the Big Guy.
Note there is another monster banker cartel called PCAF — in this case with assets of $92 Trillion.
PCAF was created by Dutch financial institutions during the 2015 Paris Climate summit to encourage banks and investors to play their part in delivering a transition to a low-carbon economy.
Since then, the number of financial institutions committed to or already applying its accounting methods has climbed to more than 550, with combined financial assets of $92.5 trillion, according to PCAF’s website.
It’s time for a monster round of Anti-Trust suits.
Thanks to Tom Nelson and @JunkScience
Trump pulls America out of the Paris accords on 20 Jan 2025.
Then a lot of things will start to happen. Hopefully a monster round of anti trust suits is part of the process!
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Why aren’t the ‘legitimate’ claimants of these funds up in arms about these payment requests for NOT doing something. Maybe it’s because they are on the same gravy train and if anyone rocks the boat the whole lot might just be exposed to the public for the rort that it is.
What’s the long term plan here, no food, no services, no utilities? If there is a government plan behind this, something that can be expressed in a few paragraphs, then it’s time for it to be published.
Let the people see what the government ultimately wants you to endure. Let’s see them try to sell that journey prior to the next election. A change of government from one uniparty to the other is not going to fix this. It’s time for real change.
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After TRUMP liberates his country from the Paris Accords, I wonder if the more fanatically woke countries like Australia, itself an insignificant “carbon” (sic) producer, and likely a net “carbon” (sic) sink will redouble their obsession with reducing “carbon” (sic) emissions and subsequent self-destruction?
Meanwhile, the world’s largest carbon dioxide producer, China, with more than twice the emissions of the next biggest emitter, the United States, continues to rapidly increase emissions and continues to build two coal power stations per week without limits (not that CO2 emissions matter).
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The whole climate thing has become a parody of itself .
There has never been a explanation of the process by which extra CO2 can change the temperature . Thousands of years ago when CO2 levels were much higher than now there was no overheating and in some cases it was cooler .
This nonsense is all based on baseless assertions , biased computer models that still can’t predict the weather in 2 days time , and doctored temperature records .
The whole thing is a hoax and should be shut down .
We just need a strong , NON-corrupt government .
There is a DA for a proposed 6.3MW ” solar farm ” and 11MW battery , just down the road from us . Still researching details .
https://wagga-web.t1cloud.com/T1PRDefault/WebApps/eProperty/P1/WWCustom/Applications/DocsExhibition.aspx?r=WW.P1.WEBGUEST&f=WW.P1.EPR.DOCEXHIBIT
available to view until 16th December .
https://greengoldenergy.com.au/
https://www.zoominfo.com/pic/green-gold-energy-pty-ltd/456563066
This despite a glut of solar ?
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Another Delcon I hope this doesn’t go ahead because at best it will generate electricity for just 15% of the time and will end up in landfill after 15 to 20 years.
Why are we still wasting billions of $ on these toxic disasters and only have erratic electricity and for zero change to the weather or climate?
But China and Russia will be very pleased.
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Sooner rather than later we’ll need to see some very strong action against the banks etc and this will probably come from the Republican states and Trump at the Federal level.
These big money lenders and climate con merchants will have to be tamed or life will be much more difficult for the average voter across the OECD countries.
And hopefully the voters will start to change, but how long before they start to wake up?
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As Jim said on the previous thread; it’s time to put an end to this abuse of taxpayers trust.
https://www.joannenova.com.au/2024/12/renewables-star-state-urgently-wants-to-force-two-diesel-plants-back-to-stop-blackouts/#comment-2817245
When all is said and done the dangerous CO2 basis for all the abusive activity by pollies is not only incorrect, it’s deliberately incorrect, and this deserves la punition.
It’s not an innocent mistake and perhaps Madame G should come back to make the point.
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Ah, the amazing powers of modelling alternative realities. There’ll be good money to be made in that field:
Barrister: My lord, my client admits that he drove his vehicle into the rear of Mrs Jones’s car, killing the unfortunate Mrs Jones and her infant son. However, my client has employed a counterfactual modeller who has determined that Mrs Jones would have had a grandchild who would become an arch-terrorist and would have been responsible for the deaths of millions. Those lives have been saved by my client.
Judge: Very good. Case dismissed, and a commendation to your client.
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They say science advances one death at a time. Maybe it will be the same for the climate banking blob, which is influenced by politics. I’ve been actively consuming the whole Climate change debate since the early 1990’s. Back then there was still some real science debate involved. Then that great American Southern blowhard Al Gore came along and he realised he could ascend to the US Presidency based upon the debate around the subject. Very nearly did. That was 30 years ago. Hence, the great AGW tanker ship is going to take maybe a similar time to turn around. I think Trump this time will help big time, but there’s too many entrenched financial interests at stake here. Follow the money always. For me it’s not about the science anymore, you have to not only reverse politics but also significant financial interests.
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A lot of Carbon Credit Cash went to China for hydro which they were building anyway, but the story was the saving on the coal fired power plants they could have built but didn’t. So the one country which is close to exceeding all other countries combined is being sent our cash for their heroic efforts in reducing CO2.
And under our new 35% CO2 law we are forcing our 250 ‘biggest polluters’ to contribute more cash, money stolen in turn from all Australian consumers without our knowledge. Like all carbon credit schemes, silent theft. Government crafted, legislated and policed. None of it mandated at an election or noticed by the press. no one seems to know who is paying for all those windmills? We pay for them and we pay again for the ‘free electricity’ and we give the ‘owners’ a total tax break on the income. Windfall politics with Chinese windmills and solar panels.
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And the fake conservative Liberal Party faction of the Uniparty goes along with this.
If he had a clue, Dutton would come out and tell the truth about this fraud.
Instead, Dutton is a True Believer.
Admittedly he wants to commission nuclear power but that will be too little, too late.
Realistically, remember we are talking about Australia, the “can’t do” country. How long do you think it would take to get approval for six nuclear reactors or even just one?
If a decision was made TODAY I doubt Australia could have a nuclear power reactor delivering power to the grid in less than 15 to 20 years.
Australia won’t exist as a viable country in 15 to 20 years as our electricity grid continues to be dismantled. There will be nothing left worth saving and in any case the country will be bankrupt and unable to afford one or six reactors.
In 15 to 20 years, households lucky enough to have rooftop space and a safe location for lithium batteries away from the house will be living off-grid. Those forced into shoebox size apartments by government policy will have severe power rationing, enough for a bit of nightime lighting, once a day use of a small electric cooking appliance for ten minutes and a computer device like a tablet for you to receive government propaganda and to monitor you.
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Andy May looks at CC over thousands of years and the loss of millions of lives during those very tough times.
Of course many donkeys want to return to the pre industrial era and the colder LIA.
Today most people have enough to eat and very few die from starvation caused by droughts and floods etc and only a small minority have to endure hard physical labor, at least in OECD countries. In 1770 most people had short and brutal lives and life expectancy was about 28.5 years, while today the 8.1 billion people have an average life expectancy of about 73 years. And much higher in most OECD countries, see OWI Data
https://wattsupwiththat.com/2024/12/03/climate-change-over-the-past-4000-years/
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Bankers? The correct term is banksters.
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Victorian upper house Libertarian MP David Limbrick makes sense with his talk about energy, but I’m not convinced about Japan’s Victorian Hydrogen adventures.
But good to see him rip into the clueless Vic Greens.
https://www.youtube.com/watch?v=bZofVkHPPTI
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Banks have become the enemy.
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It’s a perfect scam.
You “create” a non-physical non-product out of nothingness and get to charge for it.
It’s all book keeping entries based on nothing. No generation of wealth, no hard work, no manufacturing of useful items.
In fact, it’s a net drain on society’s wealth, just like the whole anthropogenic global warming fraud. Why can’t people see that, present company excepted?
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A decade or two ago various versions of this letter were doing the rounds in the UK…
Dear Secretary of State,
My friend, who is in farming, recently received a cheque for £3000 from the Rural Payments Agency for not rearing pigs. I would now like to enter the business of not rearing pigs.
In your opinion, what is the best kind of farm not to rear pigs on, and which is the best breed of pig not to rear? I want to be sure I approach this endeavour in keeping with all government policies, as dictated by the EU under the Common Agricultural Policy. I would prefer not to rear bacon pigs, but if this is not the type you want not rearing, I will gladly not rear porkers. Are there any advantages in not rearing rare breeds such as Saddlebacks or Gloucester Old Spots, or are too many people already not rearing these?
Would you please also pass this letter on to the Department for Business and Enterprise, which I understand provides start-up grants for small businesses?
The hardest part of this programme would appear to be keeping an accurate record of how many pigs I haven’t reared. Are there any Government or Local Authority courses on this?
My friend is very satisfied with this business. He has been rearing pigs for forty years or so, and the best he ever made on them was £1422 in 1968. That is until this year, when he received double that for not rearing any.
If I get £3000 for not rearing 50 pigs, would I get £6000 for not rearing 100?
I plan to operate on a small scale at first, holding myself down to about 400 pigs not raised, which will mean about £24,000 for the first year. As I become more expert in not rearing pigs, I plan to become more ambitious, perhaps increasing to, say, 40,000 pigs not reared for my second year, for which I should expect about £2.4 million from your department. Incidentally, I wonder if I would be eligible to receive tradeable carbon credits for all these pigs not producing harmful and polluting methane gas? Or for trees on my farm which I do not cut down?
A further point: these pigs that I plan not to rear will not eat 2,000 tonnes of cereals. I understand that you also pay farmers for not growing crops. Will I qualify for payments for not growing cereals to not feed the pigs that I don’t rear?
I am also considering the “not milking cows” business, so please send any information you have on that too. Would you please also include the current DEFRA advice on set-aside fields? Can this be done on an e-commerce basis with virtual fields (of which I can readily set up several thousand hectares)?
In view of the above you will realise that I shall be unemployed. I understand that the government now pays people not to work. I shall be not working for only a few hours in the first month, but would intend to not work for progressively longer as the number of pigs I don’t rear increases. Can the unemployment benefit be linked to my hours of not working, or to how hard I don’t work?
Yours sincerely
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I remember this when it first came out.
The bizarre thing is it could actually be real and not parody in light of the madness we now have.
With ever more insanity from the Left (with the soon-to-be exception of TRUMP’s America) it’s becoming increasingly difficult to tell apart reality and parody.
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In 2022, the National Grid ESO paid Scottish wind farms to stop generating power over 200 times, adding £800 million to consumer electricity bills.
The UK paid £1.3 billion this year to compensate wind turbine operators for curtailment…
https://oilprice.com/Alternative-Energy/Wind-Power/Brits-Pay-Billions-To-Waste-Wind-Energy.html
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Having just watched the first season of Clarkson’s Farm, I suggest this be sent to Jeremy !
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Again, we’ve been told repeatedly that we must become a net sink for co2.
But the CSIRO tells us that the entire SH has always been a net sink of co2 and the NH is a net source.
Here’s their quote from their Tassie Cape Grim site. So where are our reparations payments for the last 230 years?
This should be worth 100s of trillions of $ today.
“Seasonal variation”
“Carbon dioxide concentrations show seasonal variations (annual cycles) that vary according to global location and altitude. Several processes contribute to carbon dioxide annual cycles: for example, uptake and release of carbon dioxide by terrestrial plants and the oceans, and the transport of carbon dioxide around the globe from source regions (the Northern Hemisphere is a net source of carbon dioxide, the Southern Hemisphere a net sink)”.
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BTW the CSIRO also includes Methane and Nitrous oxide for net sinks in the SH.
“transport of methane around the globe from source regions (the Northern Hemisphere is a net source of methane, the Southern Hemisphere a net sink).”
Here’s Nitrous oxide quote.
“transport of nitrous around the globe from source regions (the Northern Hemisphere is a net source of nitrous oxide, the Southern Hemisphere a net sink)”.
Here’s the CSIRO link. Cape Grim Data
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Sorry I’ll try that CSIRO link again.
https://capegrim.csiro.au/
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“What other industry gets paid for what they could have done, but didn’t?”
It used to be common for EU farmers to get paid for not growing crops. Maybe still is.
And just now the UK govt is paying wind farms to turn off in windy weather.
But I don’t expect the Australian govt will pay me to turn off my solar power during the afternoon.
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Remember the “cash for ash” “renewables” scam from Ireland.
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All renewables schemes (i.e. scams) have only two purposes.
1) Harvest subsidies from hard-working people for the super-rich Elites of the Left.
2) Destroy Western Civilisation allowing China to become the dominant world power. Australia and many other Western countries have numerous corrupt politicians who are more loyal to China than their own countries and who are assisting in this endeavour.
TRUMP is America’s and the West’s only hope.
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What exactly will it take to make the Left realise their huge mistake (those that actually believe in catastrophic anthropogenic global warming, not the actual scammers)?
Since being a Leftist is a psychological defect, I don’t think they will ever see it.
A book was written about this madness (liberal means Leftist in American terminology):
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The young monk Martin Luther described Rome as a hell on Earth after he witnessed the sins of the city.
This was in 1510 and within a few years he attempted to start a new church which led to the Protestant Reformation.
He hated the Catholic Church’s sale of indulgences whereby poor peasants could pay to have a loved one or relative taken out of purgatory.
I have to wonder how far we’ve come since the 1500s when greedy bankers try to dream up ways to further indulge themselves and then find new and sinister ways of making more money.
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