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 Last week, 181 of the world’s major institutional investors — including largely government pension funds and big banks — issued a call for “strong action” from the United States and “world leaders” on global climate change regulations and emission caps. According to various news reports, the United Nations-backed group together controls some $13 trillion of capital.
The statement, released at the International Investor Forum on Climate Change in New York, urged a world wide effort by governments to cut so-called greenhouse gas emissions globally by 50 percent to 85 percent from 1990 levels by the year 2050. Rich countries should cut up to 95 percent by 2050, the group said.
The group also called for “public financing mechanisms” and a “strong and binding international treaty that will reduce pollution and catalyze massive global investments in low-carbon technologies,” along with an “international system that registers, oversees and reviews national action plans.” It also promotes more taxation and taxpayer-guaranteed investments.
A new course toward “sustainable” business practices must be charted, claimed Thomas Napoli, the New York state comptroller who hosted the gathering. He is in charge of $117 billion worth of state pension money. "We have to act now. There is too much at stake both for the health of our planet and the health of our investments and our economies."
In a disgraceful abuse of the public trust, other government investors joined the bandwagon as well. "In answering those who question why the U.S. should adopt strong climate change policies, it's not strong enough to say we have an obligation," suggested California State Treasurer Bill Lockyer. "We owe a duty to all those who come after us to act now. If we fail to lead, if we adopt the attitude that we're not going to act until enough other nations act, we will violate that duty. And we will run an even greater risk of leaving future generations a damaged planet and diminished hopes for prosperity."
Many other state and national pension funds and government-affiliated investors are among the signatories, national churches included. Another significant portion of the statement’s backers include mega-banks like HSBC and French-giant Société Générale. The whole extravaganza was sponsored by the United Nations Environment Program, an obvious beneficiary of this unprecedented global power grab.
The hysterical calls for global regulation and U.S. “leadership” come amidst fierce opposition to the plans among Americans as Congress deals with the issue and “world leaders” prepare for a summit in Copenhagen this December to draft draconian global regulations. The cost-estimates of the cap and tax scheme have renewed calls for scrapping the plan after it was passed by the House of Representatives. The Senate is preparing to take it up soon.
But “Lord” Nicholas Stern, the keynote speaker at the event, said it was time to move away from "quarrelsome stupid politics." In his apparent reference to the wide spread opposition, he basically suggested the regime should be imposed regardless of what the people think.
In the face of mounting evidence against the fear-mongers’ predictions of warming, the joint statement did not address the topic of global “warming” a single time. The new mantra is now “climate change,” despite the undisputed fact that the Earth’s climate has been continuously changing since long before humans even arrived on the scene, and will obviously continue to do so.
Aside from the inconvenient fact that the Constitution does not provide the federal government with any authority to regulate “carbon emissions” and would therefore require a constitutional amendment, the idea of enacting such economy-destroying, sovereignty-eroding and freedom-limiting schemes is repugnant. It would also cause massive problems for developing countries where citizens are already struggling to survive. Americans should ensure that their representatives obey their oaths of office and refuse to go along with these irresponsible and destructive measures.
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