Watt Up With That? by Eric Worrall 7/12/2021
G20 ministers endorse carbon pricing to help tackle climate change
“Tackling climate change and biodiversity loss and promoting environmental protection remain urgent priorities,” G20 finance ministers said on Saturday after talks on a global tax deal and other issues in Venice. The solutions could include, “if appropriate, the use of carbon pricing mechanisms and incentives”, the group said, expressing support for a carbon price in a communique for the first time.
“When it comes to unlocking fiduciary assets, pension fund assets and asset owner capital, we need to rethink the role of these institutions. We need to rethink their model,” Fink said, referring to the World Bank and the IMF.
The comment about “unlocking fiduciary assets” like pension investments is particularly disturbing. Usually you unlock something because you want access to the contents.
Back in the 1980s, governments around the world passed laws to encourage private pension savings, but they didn’t practice what they preached. Now the world is full of financially distressed debt ridden governments, greedily eyeing off those huge but currently inaccessible pots of private pension money.
More:
https://wattsupwiththat.com/2021/07/11/g20-endorses-global-carbon-pricing/
