WUWT: Anyone celebrating the recent abolition of the British Department of Energy and Climate Change needs to keep a few bottles of champagne on ice. Mark Carney, the powerful green enthusiast who runs the Bank of England, Britain’s version of the Federal Reserve, has just described climate as a “$7 trillion opportunity”.
According to the Financial Post;
Climate change initiatives a $7-trillion funding opportunity for capital markets: Carney
TORONTO The trillions needed to fund global carbon reduction commitments in the coming years is a big opportunity for investors, Bank of England Governor Mark Carney said Friday in a speech to Toronto’s financial community.
Carney, formerly the Bank of Canada governor, spoke at the Toronto Region Board of Trade with Catherine McKenna, the minister of environment and climate change. He said that given the enormous funding needs for clean infrastructure — he estimated at somewhere between $5 trillion and $7 trillion a year — investment opportunities will abound. more here
Time to get a new Bank of England governor.
This is the same premise used by Al Gore and his pals to start up the Chicago Climate Exchange. They were all going to be the “First” Climate Change Trillionnaires!
It’s all predicated on governments imposing carbon taxes on business so that high-rolling investors can profit from swaps. I can’t think of anything more esoteric than creating a carbon ‘penalty’ and then manufacturing ‘investment opportunity’ from it. Especially since it is all built on very irregular junk science.
…And I’d like to know how he came up with the figure “Seven Trillion.” Why not 18 trillion, or 10 Trillion? Somebody penciled it out. Based on what?
Leftest policies are actually saving capitalism. Who knew?
These assholes who run the west are going to drive us into poverty while simultaneously rolling out the red carpet for the Islamic State to set up shop in the West.
“somewhere between $5 trillion and $7 trillion a year ”
more like:
somewhere between $5 trillion and $7 trillion of new debt a year
It’s all paper … nothing of value will be produce. Vapor bucks. It allows the elites to suck more money out of the masses and when it all implodes like the 2008 housing bust we’ll also be stuck with the carbon bill because carbon credits are too big to be allowed to fail.
Uh oh. Didn’t he break an oath or something – to never say the obvious. That it has always only been about the money, not the actual climate trend. There could be unpleasant consequences for opening the cat bag in public hearing.
This is a progressive’s dream. Creating a taxable unit literally out of thin AIR.
I’ve always heard that the government would tax the air we breathe in if they could.
Well, they found a way to tax the air that we breathe OUT.
It’s called WEATHER, and i has been going on for billions of years, and will continue to do so for billions more.
This is the biggest, in your face scam/scheme ever perpertrated on the Ameican people.
As well as the rest of the world also.
These slimy climate change idiots need to be exterminated, before we all end up living in a 3rd world hellhole, that used to be America.
And once they are dead, they can be used for fertilizer.
See, even in death these idiot’s can finally be part of the solution.
LOL