From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
h/t Ian Magness
So that’s alright then!
A top central banker has warned of the economic damage that the rush to ‘Net-Zero’ could cause, and illustrates the point by stating that deleting Europe’s architectural history would be required to achieve severe green expectations.
Among the comments made by Paolo Angelini, deputy governor of the Bank of Italy, about European Net Zero ambitions that, in his opinion, risk inflicting more harm than good, the central banker outlined the level of change that Europeans would need to satisfy those demands.
While saying pushing Europe to net zero risks destabilising the continent’s economy and undermining Europe’s ability to lead on green issues globally, the top economist made his point by revealing he’d asked his team at the Bank of Italy what would be necessary just to make the single institution that he leads compliant.
Angelini revealed the shocking response, remarking in an interview with Politico: “They told me: ‘If you allow us to tear down all our historical buildings and build energy efficient ones, then we can do it’.”
The Bank of Italy wouldn’t be committing itself to net zero any time soon, said Angelini. This was not because he didn’t believe in the cause, but simply because with the technology presently available, he didn’t think it was physically possible.
He said: “For the time being I am refraining from raising my hand and saying at the Bank of Italy we’re going to net zero, because I don’t have the technology, the ability to be certain about the pledge.”
Reflecting on the central banker’s remarks — which may possibly have been tongue-in-cheek — Politico itself mused: “it’s a potent symbol of the trade-offs that the green transition demands: how much of Europe’s present — and past — is it willing to risk to secure its future?”.
The Bank of Italy itself is headquartered in the Palazzo Koch in Italy, an impressively grand 19th-century palace named for its architect which features a money museum and significant interiors and staterooms.
While survey after study demonstrates that the general public appreciates classic design, the issue is politicised to some extent. U.S. President Donald Trump issued an executive order requiring ancient architectural styles (Roman or Greek revival) for Federal structures, which President Biden reversed.
In the United Kingdom, a hard-left London mayor’s advisor stated traditional architecture is “offensive” because it “harkens back to oppression.”
While it’s obviously tongue in cheek, Angelini does raise a serious issue about Europe’s old buildings. But at least it appears that Komrade Khan will be happy!
Europe could reach Absolute Zero (not just Nut Zero) by simply offing their populace or forcing them to move to Russia
I understand China has a fairly reasonable energy policy
On more serious note, renewable technologies, such as solar panels, wind turbines, batteries, etc require rare-earth minerals and other critical materials for their production. The extraction and processing of these materials has considerable negative environmental and social impacts at the source.
Availability and consequently the cost will become an important and limiting constraint as demand for renewable energy increases, rendering ‘net zero’ folly unachievable.
Planned Parenthood (PP) at the beginning of life, Planned Parent/hood (PP) late in life, and Planned Populationhood (PP) throughout, with religious (“ethical”) sanction to aid, abet, and socially distance from State (e.g. one-child), her (e.g. selective-child), and his (e.g. ethnic Springs) Choice (any life deemed a “burden” or otherwise unworthy of life).
All these historic buildings should be forced to use ONLY heat pumps, starting with the Parliament, Buckingham Palace, etc.
It would totally bankrupt the UK
End of Net Zero
They’re taking the Pees
These things start as jokes.
Ah, yes. . . “It was necessary to destroy the village (or city, or entire civilization) in order to save it.”
Reduce, Reuse, Recycle has diverse precedents not limited to Critical Green Theory (CGT).
Not obvious at all.
Look at the insane policies already being pushed (e.g. Netherlands farming destruction). Who would have dreamed this would be on the cards even 5 years ago?
Nope, knocking down a few old buildings doesn’t seem so outrageous any more.
It’s insane, isn’t it? Only a matter of time before it becomes EU policy.
Sounds like Osama and Co were simply pioneering XR types ahead of their time-
Skyscrapers weigh too much: New York is sinking deeper and deeper (msn.com)
The article talks about eliminating architectural history. I think that’s only part of it. We seem to be living in a time where many want to eliminate ALL history.
Plus half the human race, but not those in the Garden of Eden, according to senile Borrell, who masquerades as some kind of foreign minister of the EU
You can’t accuse Khan of anything other than being a complete, total and utter……
Strativarius, Actually he is doing what he needs to do to get more money. The Government won’t give him any more so it’s the turn of the “cash cow ” motorists to fund whatever crazy schemes he has in mind. Every timer I see a Guardian Jobs post it is nearly always for a well paid, middle management job at city hall. And given that I will have to get rid of my perfectly usable but non-Ulez compliant car I will NOT be voting for him next time.
Especially if he is asked to justify his anti car, anti business diktat when viewed against the reduction in pollution in London since WWII AND the online video of the measurement of pollution on London Underground (massive) vs the streets ( massively less ) above – another chance for KK to reveal his ubiquitous stupidity …?
You are talking about a country and a city that just spent millions to crown an old man in an ancient cathedral while he sat on an old throne with an older stone in its base. Judging by the tens of thousands of well-wishers on the streets of London, it would seem that everybody loves old stuff and it is not going anywhere.
Just full disclosure here–it was the highlight of my trip to London two months ago to attend Sunday services in Westminster Abbey. So, yes, I am a fan of the old stuff too.
Such outdated thinking. The future is virtual currencies and virtual banking. The only thing not virtual about them is the electrical energy required to run them. Such systems are as close to pure energy as could be imagined. Buildings have little involvement in the future of banking. Modern processors are operating in oil cooled housings and could be installed in outdoor enclosures or buried vaults.
You are evidently not paying attention. We now have people talking in all seriousness of “virtual power supplies”.
“virtual power supplies” – the off switch?
Yes, the off switch. Or the “dimmer” switch.
As in you and I turn our ACs off so more important people can turn theirs on. No “new” generation needed.
… and virtual people… persons. Virtually. It sounds vaguely like a sci-fi movie plot.
I think a lot of greenies would like Pol Pot to control things.
Not Net Zero but Year Zero.
Here’s a lovely microcosm of everything that’s wrong with the UK right now.
It’s got everything, buck passing, insane cost estimates, a time estimate of up to 76 years, a 19th century building that is costing £2Million per week to hold together, is a monster fire risk, is full of (equal measures) paranoia, asbestos & wonky wiring and is generally, falling apart.
The Italians will be laughing all the way to their (haha not-so-crumbling) Bank watching this. UK folks are reaching for the sickbag
Search around that story and you’ll find plenty people suggesting exactly what the hero of the article here is saying:
Just Knock It Down and start again
Now; Are they talking ‘Parliament Building’ or ‘The UK’?
This puts the 26 year time Fram to achieve NetZero by 2050 in perspective. Cannot fix one lousy building in 76 years. What hope is there of “fixing” the entire country in 27!!
Asbestos is actually fire resistant. Install more.
Why is asbestos treated as though it is radioactive? It’s a marvelous insulator (the World Trade Center in NY might still be standing if asbestos hadn’t been banned early in its construction) – it should just be sealed in place (say, spray foam insulation on top of it) instead of risking more exposure and incurring unnecessary removal/disposal costs.
Well that will leave the Net Zero great reset champion King Charles III a bit of an issue.
Windsor Castle is definitely a traditional old building it will have to go.
Closer to Citizen Khan’s central London office is The Tower. a very old building clearly one of those that must be removed to save the planet.
On a more serious level. I applaud the Italian bankers position. He is being honest about Net Zero. We not only do not have the technology to achieve such a thing it is also completely unnecessary to even think about doing it.
“Well that will leave the Net Zero great reset champion King Charles III a bit of an issue.”
Yes indeed. Chuckie was all for Early English Vernacular, or at least what we called “neo-rustic with tiddly bits.”
I had to design some once. It was too expensive to build, so the client had to move on to a site that was not leased from the Duchy of Cornwall. The tiddly bits always seemed to let in the wet, even when sealed with masses of lead sheeting. The latter had a habit of disappearing in the night as well.
It makes World War 2 sound very green.
LoL,!! climate action on a whole different level. Well Kerry has said we need to be on a ‘war footing’ to combat Climate Change.
Anything to eliminate several Billion People from the Demand Side of the equation
UK, North London to be exact, tried to do ‘something’ with brand new buildings – now see what happened there.
Headline:“Camden leaseholders: ‘My £850,000 newbuild flat is now worthless’
We understand Amy Winehouse RIP (former Camden resident) a little better don’t we…..
Maybe it does—if you half-close your eyes and scrunch up your brain just right. But 700,000 new arrivals a year, mainly from Africa and Asia, seem content not to let it get in their way.
From the article: “The Bank of Italy wouldn’t be committing itself to net zero any time soon, said Angelini. This was not because he didn’t believe in the cause, but simply because with the technology presently available, he didn’t think it was physically possible.”
Yes, some people in positions of power are starting to understand the situation more clearly. Lord Frost is another.
Perhaps reality will dawn on our politicians before they do extreme damage to our economies and ways of life (they better hurry). Let’s hope so, for all our sakes.
Unfortunately the chilling effect of their bad forward guidance (ICE banned by 2035, say) and talk of “stranded assets” will never be visible to the politicians. The first they—or more likely, their successors—will know something is amiss will be years later. They might figure out they blew it and that capital flight has been baked-in for years, but what can they do then? If someone else is already churning out a product you haven’t even developed yet, you’re not going to attract the money back.
Reality dawn on politicians? Don’t hold your breath!
The UK has recently published 1000 pages of bafflegab about how it will achieve zero emissions electricity production by 2035.
As Prof Dieter Helm of Oxford University puts it
“Despite another 1000 pages explaining ‘Net Zero Strategy’ there is no credible plan to get from here to there”
Meanwhile, Labour have an even more non credible plan to get to a net zero power sector by 2030.
What a fiasco!
I think most commenters are missing a possible outcome here. Why not start this program with any facility or construction utilized by the Central Bank or the EU Parliament? This could be expanded to include any residence occupied by members or family (out to +/-two generations) of members or employees of these organizations.
This program would lead to many new constructions and likely rapidly reduce the impact to ordinary citizens of any new climate legislation.
The EU still moves on a monthly basis from Brussels to Strasbourg for its plenary sessions at a cost of 114m euros pa. There have been endless talks about stopping this that have got nowhere.
How long would another discussion about its Parliament take? 🙂
Just imagine this same strategy being applied to New York, Philadelphia, Chicago, DC, etc.
None of these US sites had the advantage of being bombed by German and allied planes during WWII.
Down town Anaheim California had a bunch of older buildings lining Lincoln which is the main drag when I moved over there in 1976. Somewhere after that the federal government came up with money to fight urban decay. California got some of that money and tore down all the old building and now the street is lined with mini malls. When they finally realize what they had done, they saved a craftsman house by relocating it out of the way. The other thing they salvaged was a two story shop that probably wasn’t worth preserving. The stripped it to the frame, relocated it twice and turned it into a restaurant.
Had I realized what they were going to do, I would have got my camera out and recorded what I could. Instead all that is left is memories and a few old pictures in the newspapers.
Fortunately some have learned from this. Many of the older building are not earthquake safe but they can and do gut the building, reenforce it from the inside and then restore it. Europe has buildings that are hundreds of years old that provide a rich environment. We have few that are even a hundred years old and to some degree they are getting fewer.
Anyone read “Caves of Steel” by Asimov lately?