Net zero is the big Thing in Australia with the Greens, and Labor, and probably most of the Libs, who are dissolving into these Leftist/globalist policies, having long ago, if ever, embraced true conservativism, let alone, traditionalism. There are few decisive blows delivered to the climate change mania by Australian politicians, outside of One Nation. As for critics in industry and banking, not much there. But in Italy, one of the top central bankers, Paolo Angelini, deputy governor at the Bank of Italy, said in a recent interview, that moving too fast on the climate change agenda, with a focus upon long-term goals could destabilise economies, and the lending policies of banks. It is a basic “tragedy of the commons” situation, where what is possible for one firm or individual would not succeed for society as a whole: “If one bank drops a heavy emitter — say, a major oil company — in favour of lower emission-producing companies — say, a firm in the services sector, such as Big Tech — that is fine,” Angelini said. “But if every financial intermediary adopts this strategy there will be problems, at least as long as people keep using cars and want to keep warm in winter and cool in the summer. If everybody divests from high-emitting sectors there will be a problem because if the economy does not adjust at the same time, things could blow up unless a miracle happens in terms of new technology.”
It is clear that the road to ruin, is paved with climate change policies.