Climate News

Biden climate agenda includes provisions that force banks and other companies to comply with ‘climate change’ objectives; could lead to loss of home loans, other services for Americans


Joe Biden is in Glasgow, Scotland this week selling the world the lie (again) that “climate change” is an “existential threat” being caused by humans and that unless ‘something is done’ about it, the world will end as we know it.

So — what are Biden and his handlers proposing? A massively complex scheme of rules that come straight from the United Nations’ global dominance playbook and will literally lead to a loss of financial services for Americans who don’t ‘comply.’

The Wall Street Journal notes:

Calling climate change a systemic risk to the financial system, the White House released a report Friday outlining its strategy for new rules that could affect investment disclosures, insurance policies and home loans.

The report outlines administration goals, including forcing financial firms to more directly address the risks of climate change, creating new protections for savings and pension plans and making climate change more a factor in federal budgeting and procurement.

Measures highlighted in the report include a proposal from the Labor Department last week that reverses a Trump administration rule which made it harder for 401(k) investment and retirement plans to offer investments that are based on ESG — environmental, social, and governance — metrics.

“U.S. financial markets and institutions face systemic risks from climate change,” said the report, adding that the U.S. needs “a road map for measuring, disclosing, managing, and mitigating climate-related financial risk across the economy.”

The analysis, which was ordered by Biden’s handlers, talks about initiatives that are already underway by federal financial regulators and simply correlates them all into a core set of objectives.

Larger climate efforts — that is, efforts to simply spend trillions of dollars the U.S. doesn’t have and will have to borrow on favored initiatives that will make a lot of Democrat donors even more wealthy than they already are — are tied up in Congress over bickering between the party’s Marxist and Communist factions and the few, but more reasonable, moderate faction consisting primarily of Sens. Kyrsten Sinema of Arizona and Joe Manchin of West Virginia. As such, the Biden regime seeks to implement its economy-destroying measures via an expanding regulatory regime that will wind up harming ordinary Americans.

“The report comes as part of a White House effort to review climate risks both inside and outside government. In May, Mr. Biden told administration leaders to assess what financial risks climate change posed to federal programs and the stability of the U.S. government and what new steps they might need to take to protect the financial system and its consumers,” the WSJ reported.

“Major U.S. law firms said the process is laying a foundation for climate change-related regulations that the administration would apply to banks, insurance companies and other financial institutions,” the paper added.

Administration officials say this is all aimed at ‘protecting’ American consumers, but a quick and easy smell test proves otherwise. For instance, what could financial institutions possibly do to ‘affect climate change outcomes’?

One way would be to deny loans for new single-family dwellings so more Americans would have to be crammed into crummy, substandard multi-family dwellings (while the power elite making all these rules lives the high life in their own mansions). Another would be to either deny loans for gasoline-burning vehicles or make interest rates so high for those loans that Americans would be forced to buy more expensive, and less reliable, electric vehicles.

And so on. Property loans could be denied or made prohibitively expensive for single-family dwelling developers and farmers who want to raise crops using gas-powered vehicles or methane-producing livestock.

All of this isn’t simply possible, it’s coming — Biden’s Marxist handlers already have the scheme in the works. And if courts don’t strike down this madness, it’s going to cause massive unrest.

Sources include:

WSJ.com

NewsTarget.com

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