1 thought on “Prince great reset

  1. xileffilex

    The Green Horizon Summit in the Mansion House, City of London has been playing out this week, with video-linked contributions from Klaus Schwab, Bill Gates Christine Lagarde and Kristalina Georgiieva, not forgetting Prince Charles. The Governor of the Bank of England Andrew Bailey [successor to Mark Carney] tells us @1h44m30s that..

    The Cartography of Post-COVID-19 Green Growth | Green Horizon Summit 2020
    Nov 10 2020

    “In July 2019 we announced our plans to launch a climate stress test exercise. When the pandemic hit we decided to postpone the exercise in light of the strain on firms’ resources and our own and to ensure the ambitious scope of the exercise could be maintained. We’ve used the extra time to continue our work on the design of the exercise…launch date June 2021…three different climate scenarios….30 year period” [taking us nicely to 2050]

    What amazing bad luck [or good luck depending on how one looks at it…] that the “pandemic” came along which seems to have been a pretty good stress test in itself which was planned while Carney was still the Governor. Carney has already said companies would be bankrupted if they didn’t adapt to climate change

    An EU stress test scenario to assess the resilience of financial institutions to adverse financial and economic developments
    was approved by the ESRB General Board on 21 January 2020 and transmitted to
    the EBA on 23 January 2020. – i.e. around Davos. Just another pre-coronavirus pandemic coincidence.

    Nov 12 2019
    Until recently, central banks had never publicly discussed climate change. This changed in September 2015, when BoE governor Mark Carney trailblazed the idea that financial regulators should take an active role in promoting green risk management practices….
    …. the European Central Bank (ECB) with support of the European Systemic Risk Board (ESRB) is planning to include climate risk scenarios into stress-test exercises and is developing a climate-related analytical framework and methodologies…. . However preliminary analysis based on European banks’ exposures to carbon emitters shows that a disorderly transition to a low-carbon economy could be systemic.
    …President of the ECB Christine Lagarde stated that the ECB should “contribute substantively” to climate change effort and “devote significant resources”

    Net Zero Economy is the phrase running through the summit.
    From their blurb –

    The world needs to chart a course for green and resilient growth. With environmental, social and governance (ESG) investments already outperforming in the downturn, private finance has a key role to play in supporting the recovery and accelerating the transition to a low-carbon future. How can policy-makers and financiers work together to create green jobs and support the return to growth?

    Gates at

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