Guest Column Catherine Swift, The Niagara Independent——Bio and Archives--January 11, 2025

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Sometime in the future, the past few weeks could be viewed as the beginning of the end for Mark Carney’s fantasy of a net zero global financial nirvana in which airy-fairy considerations like ESG (environmental, social and governance) were to be given priority in the business community over and above the basic need to remain solvent.

Sometime in the future, the past few weeks could be viewed as the beginning of the end for Mark Carney’s fantasy of a net zero global financial nirvana in which airy-fairy considerations like ESG (environmental, social and governance) were to be given priority in the business community over and above the basic need to remain solvent.

One of the key entities that was created to endorse climate goals in the financial world was the Net Zero Banking Alliance (NZBA), which was established in April 2021 under the auspices of the United Nations. The purpose of the NZBA was to promote lending and investment practises that prioritized the achievement of net zero greenhouse gas emissions by 2050 over other business goals such as making money and staying in business. Many large global banks quickly signed on to this new entity, heavily fostered by Carney, the UN Special Envoy for Climate Action and Finance.

As political and........

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