by Frank Bergman, Slay News:
In recent years, governments around the world have been pushing radical policies that have fueled a global energy crisis.
It would be easy to assume that the decisions that have triggered soaring energy prices are just plain incompetence.
However, the global energy crisis conveniently falls into line with the long-planned strategy of Western corporate and political circles to dismantle industrial economies in the name of the globalist green agenda.
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Democrat President Joe Biden’s administration and European Union insist that soaring energy costs are due to Vladimir Putin and Russia’s military actions in Ukraine.
But this simply isn’t true and the situation was festering for years before Russia launched its military action in Ukraine in February 2022.
In January 2020, on the eve of the economically and socially devastating Covid lockdowns, Larry Fink, the CEO of the world’s largest investment fund BlackRock, issued a letter to Wall Street colleagues and corporate CEOs on the future of investment flows.
In the document, modestly titled “A Fundamental Reshaping of Finance,” Fink announced a radical departure for corporate investment.
He declared that money would “go green.”
At the time, BlackRock had some $7 trillion under management.
In his closely-followed 2020 letter, Fink asserted that funds will be reallocated into green agenda investments.
“In the near future – and sooner than most anticipate – there will be a significant re-allocation of capital,” Fink declared.
“Climate risk is investment risk.”
“Every government, company, and shareholder must confront climate change,” he added.
In a separate letter to Blackrock investor clients, Fink delivered the new agenda for capital investing.
He declared that Blackrock will exit certain high-carbon investments such as coal, the largest source of electricity for the USA and many other countries.
He added that Blackrock would screen new investments in oil, gas, and coal to determine their adherence to the United Nations Agenda 2030 “sustainability.”
Fink made clear the world’s largest fund would begin to disinvest in oil, gas, and coal.
“Over time, companies and governments that do not respond to stakeholders and address sustainability risks will encounter growing skepticism from the markets, and in turn, a higher cost of capital,” Fink wrote.
“Climate change has become a defining factor in companies’ long-term prospects… we are on the edge of a fundamental reshaping of finance,” he added.
From that point on the so-called ESG investing, penalizing CO2 emitting companies like ExxonMobil, has become a rising trend among hedge funds and Wall Street banks.
Major investment funds including State Street and Vanguard have since gone “woke.”