UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System https://unlimitedhangout.com/2021/11/investigative-reports/un-backed-banker-alliance-announces-green-plan-to-transform-the-global-financial-system/ BY WHITNEY WEBB NOVEMBER 5, 2021
The most powerful private financial interests in the world, under the cover of COP26, have developed a plan to transform the global financial system by fusing with institutions like the World Bank and using them to further erode national sovereignty in the developing world.
This alliance, called the Glasgow Financial Alliance for Net Zero (GFANZ) .. At the time of the alliance’s launch, UK prime minister Boris Johnson described GFANZ as “uniting the world’s banks and financial institutions behind the global transition to net zero,” while John Kerry noted that “the largest financial players in the world recognize energy transition represents a vast commercial opportunity.”
Its inaugural teport: The Glasgow Financial Alliance for Net Zero: Our Progress and Plan towards a net zero global economy, https://unlimitedhangout.com/wp-content/uploads/2021/11/GFANZ-Progress-Report.pdf (5 nov. 2021) proposes “country platform”, a mechanism that convenes and aligns “stakeholders,” that is, a mechanism for public-private partnership/stakeholder capitalism, “around a specific issue or geography.”
Iain Davis, (https://soundcloud.com/unlimited-hangout/the-global-public-private-partnership-with-iain-davis 28/10/21)) says these “stakeholder capitalism” mechanism models, despite being presented as offering a “more responsible” form of capitalism, allow corporations and private entities to participate in forming the regulations that govern their own markets and giving them a greatly increased role in political decision making by placing them on an equal footing with national governments. It is essentially a creative way of marketing “corporatism,” the definition of fascism infamously supplied by Italian dictator Benito Mussolini.
GFANZ aims to also further “corporatize” multilateral development banks (MDBs) and development finance institutions (DFIs) in order to better fulfill the investment goals of alliance members.
The report explicitly states that MDBs should be used to prompt developing nations “to create the right high-level, cross-cutting enabling environments” for alliance members’ investments in those nations. The significantly greater levels of private-capital investment, which are needed to reach net zero per GFANZ, require that MDBs are used to prompt developing nations to “establish investment-friendly business environments; a replicable framework for deploying private capital investments; and pipelines of bankable investment opportunities.” GFANZ then notes that “private capital and investment will flow to these projects if governments and policymakers create the appropriate conditions,” that is, enable environments for private-sector investments.
GFANZ’s proposed plans to reimagine MDBs are particularly alarming given how leaked US military documents show that such banks are considered to be essentially “financial weapons” that have been used as “financial instruments and diplomatic instruments of US national power” as well as instruments of what those same documents refer to as the “current global governance system” that are used to force developing countries to adopt policies they otherwise would not.
https://www.mintpressnews.com/leaked-wikileaks-doc-reveals-how-us-military-uses-of-imf-world-bank-as-unconventional-weapons/254708/ the U.S. government applies “unilateral and indirect financial power through persuasive influence to international and domestic financial institutions regarding availability and terms of loans, grants, or other financial assistance to foreign state and nonstate actors,”..
As a consequence of the lopsided influence of the U.S. on these institutions’ behavior, these organizations have used their loans and grants to “trap” nations in debt and have imposed “structural adjustment” programs on these debt-saddled governments that result in the mass privatization of state assets, deregulation, and austerity that routinely benefit foreign corporations over local economies. Frequently, these very institutions – by pressuring countries to deregulate their financial sector and through corrupt dealings with state actors – bring about the very economic problems that they then swoop in to “fix.”