By Vijay Jayaraj
For many across the world, the U.S. Federal Reserve’s decision to exit the Network for Greening the Financial System (NGFS) is a sign that central banks can refocus on their primary mandates: stabilizing economies, controlling inflation and fostering growth.
Developing nations that need financial backing for the development of fossil fuel projects to advance economic development hopefully can look forward to a reversal of the vacuous injection of a climate change agenda into monetary policy. This corruption of the financial system has burdened the impoverished of the Third World with “green” mandates that impede the eradication of poverty and the ills that accompany it.
Currently, NGFS membership includes central banks and financial institutions from 22 countries in Africa, 32 in Asia-Pacific and 20 in the Americas, which may now be emboldened to reevaluate – and abandon – whatever priority they have assigned to climate initiatives.
Banks and asset managers often look to central banks for guidance on regulatory priorities. The Fed’s departure may prompt others to scale back useless climate commitments, putting an end to the unnecessary diversion of resources from immediate socioeconomic challenges.
Time for Global Central Banks to Begin the Exodus
For instance, Canada’s federal government has implemented a plethora of climate policies, leading to higher carbon taxes, more volatility in the energy sector, lower export income and an overall disastrous state of the economy. Aspiring to drive Canada towards more climate idiocy is Mark Carney, recently elected Canada’s prime minister by the ruling Liberal Party.
However, other Canadians have different thoughts. “Major banks across North America are leaving Mark Carney’s international net-zero banking scheme, but some Canadian banks remain members, says Rebecca Schulz, Alberta Minister of Environment and Protected Areas. “The remaining Canadian banks must abandon Carney’s net-zero banking alliance and invest in safe, affordable, reliable Canadian energy again.”
Global South has No Time to Waste
Even global entities that act as a financial bridge for development projects – like the World Bank, African Development Bank and Asian Development Bank – are deeply entrenched in the climate politics that deny billions of people potential access to affordable fossil fuels.
NGFS membership comes with expectations to adopt costly climate-related financial regulations. In the Global South, where millions still lack access to electricity or clean water, such priorities are utterly disconnected from reality.
More than 40% of the African populations – 600 million people – lack access to electricity. That translates to 20% of households with extreme food shortages and 30% of children suffering from acute malnutrition. Every day, 2 in 10,000 succumb to famine.
Nearly 4 million across the world – roughly the population of Los Angeles – die prematurely each year due to a lack of clean cooking fuels like natural gas. Many could be saved if financial institutions removed the red tape smothering investments in production of fossil fuels.
Hyperinflation, currency instability and unemployment are immediate threats that demand urgent attention in developing nations. Redirecting resources toward these issues would go much further in improving living standards than the obsession with wind turbines and solar panels to prevent a fabricated climate crisis.
When even the Federal Reserve of the U.S. – the biggest funder of the United Nations and World Bank – is opting out of a woke climate cabal, then the central banks of poorer countries have no business participating in NGFS’s wasting of time and money.
The developing world must seize this opportunity to advocate for their financial autonomy. Central banks in poorer nations should choose to prioritize the well-being of their populations and ensure that global financial governance reflects economic realities that demand an end to coercive climate policies.
This commentary was first published at RealClearMarkets on March 12, 2025.
Vijay Jayaraj is a Science and Research Associate at the CO2 Coalition, Arlington, Virginia. He holds an M.S. in environmental sciences from the University of East Anglia and a postgraduate degree in energy management from Robert Gordon University, both in the U.K., and a bachelor’s in engineering from Anna University, India.
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The Green Blob has a longstanding aversion to the welfare of the Third World.
Alas, it’s worse than that, much worse. The anti-human depopulation crew would like to see the global population drop by 50% (or more), not 100 years from now, but by removal of those alive today. Humanity is the carbon they seek to reduce, as the ultimate source of the “carbon pollution” they want to limit.
Here’s one way to get a -94% de-population in a single generation:
https://brownstone.org/articles/the-depopulation-bomb-a-halloween-sci-fi-tale/
Excerpt:
“The solution, when it came, was a thing of beauty, sublimely subtle and symmetrical. The answer was a two-step process: a pandemic and a vaccine [sic]. One population reduction device would be released, presented as a worldwide plague. It would be followed by a second population reduction device, presented as the cure.”
Whetten:
That is the exact plot for Tom Clancy’s 1998 novel “Rainbow Six”.
It is a decent read, and the ending is cosmic justice [so I won’t spoil it].
Thank you! to B Zipperer
It is not quite complete. You need to scare the fertile segments of the population so they will not bring children into a doomed world and the program young people to gender transition with sterilization to further reduce the birth rate.
Three thoughts about this ‘exit’ development.
This will help, but the developing nations need better government.
Small towns in the USofA electrified without the UN, World Bank, and other large banks. Many small electrical facilities were in operation before there was something that might be called a grid.
That, indeed, is true, but you are talking about a valid engineering solution void of politics.
Yet more proof that global organizations need to be drastically revamped or dismantled altogether. So far they have proven to be worse than worthless, they are destructive.
“Even global entities that act as a financial bridge for development projects – like the World Bank, African Development Bank and Asian Development Bank – are deeply entrenched in the climate politics that deny billions of people potential access to affordable fossil fuels.”
I have several papers and reports https://www.thegwpf.org/?s=paunio on the subject matter based on the World Bank report file:///C:/Users/03050531/Downloads/Environmental_health_and_child_survival.pdf I wrote along with an Indian economist Anjali Acharya. WHO canonized the main conclusions of this report in 2017 Diarrhoeal disease i.e. “Diarrhoea is a leading cause of malnutrition in children under 5 years old.” without any changes in health policy
I have numerous additional papers and presentations https://muckrack.com/mikko-paunio/articles on how the current anti fossilfuel policies make it impossible for the Global South to eradicate intergenratkional undernutrition (an acquired immunodeficiency) affecting 800 million people without electricity and water supply in quantity. From the most recent presentation https://oikeamedia.com/o1-219300 I copy paste this from the abstract:
“In the second part of my presentation I explain the religious motivations and the neomalthusian belief system behind the ideas that deny progress and eradication of under nutrition affecting 800 million in the Global South via hygienic principles, which made possible the public health miracle in the OECD countries in the 20th Century.”
This is the worst crime of all crimes of these globalists.
Story tip (sorry for posting it twice)
“Even global entities that act as a financial bridge for development projects – like the World Bank, African Development Bank and Asian Development Bank – are deeply entrenched in the climate politics that deny billions of people potential access to affordable fossil fuels.”
I have several papers and reports https://www.thegwpf.org/?s=paunio on the subject matter based on the World Bank report file:///C:/Users/03050531/Downloads/Environmental_health_and_child_survival.pdf I wrote along with an Indian economist Anjali Acharya. WHO canonized the main conclusions of this report in 2017 Diarrhoeal disease i.e. “Diarrhoea is a leading cause of malnutrition in children under 5 years old.” without any changes in health policy
I have numerous additional papers and presentations https://muckrack.com/mikko-paunio/articles on how the current anti fossilfuel policies make it impossible for the Global South to eradicate intergenratkional undernutrition (an acquired immunodeficiency) affecting 800 million people without electricity and water supply in quantity. From the most recent presentation https://oikeamedia.com/o1-219300 I copy paste this from the abstract:
“In the second part of my presentation I explain the religious motivations and the neomalthusian belief system behind the ideas that deny progress and eradication of under nutrition affecting 800 million in the Global South via hygienic principles, which made possible the public health miracle in the OECD countries in the 20th Century.”
This is the worst crime of all crimes of these globalists.
Story tip
“Science” journal The Lancet has been especially active in disseminating dangerous disinformation about climate change and public health. Here are two examples:
https://dailysceptic.org/2023/12/20/lancet-report-reveals-devastating-impact-of-climate-policies-on-public-health-in-developing-countries/
https://www.thegwpf.org/publications/public-health-commission-is-sacrificing-the-poor/
Excerpted from your Daily Sceptic report on how the Lancet (2023) “unwittingly exposes” nearly four decades of undermining public health in developing countries:
[None dares call it ‘genocide’…]
————
* “… Brundtland made an unfortunate decision to omit the ‘Brown Agenda’ from ‘Our Common Future’.
*[The] Brown Agenda promotes crucial infrastructural urban development such as … fresh water supplies and … sewerage systems i.e., the build-up of infrastructure that protects health.
*‘Our Common Future’ … demand[s] that [the] world must reduce energy consumption by 50%, … steer[s] the global development agenda, with adverse effects on investment choices.
*African countries would need investments in coal fired power plants, … to support municipal water supply and sewer systems, and to diminish now rapid deforestation.
*Poor countries are often unable to raise capital due to lack of credit history…
*Thus, it is not a coincidence that [Lancet] does not mention hygienic principles and the need to revitalise environmental health practices in the development agenda.
*Letter H was dropped from the formerly holy trinity of Water, Sanitation and Hygiene (WSH), … because H needs water in quantity (around 200-250 litres per day per person) and electricity provisions to communities to pump clean water in and wastewater out from households.
*Conservationists intentionally do not allow poor people in the Global South to be blessed with the holy WSH trinity, but are unable – even if they very much wish – to take away WSH trinity from us ordinary people in rich countries.
*The holy WSH trinity [had been] in the centre of the development agenda of the United Nations until the early 1990s.”
Alberta recently sent a delegation to D.C. to discuss becoming the 51st State.
As reported Alberta feels their social, economic, and government norms relate more closely to the US than to Canada.