Dovetailing with the World Economic Forum’s rollout of “personalized carbon trackers” that detail an individual’s eating and traveling habits and assign a corresponding “carbon credit score,” a slew of global banks have invested tens of millions of dollars in a carbon credit exchange platform.
— ππ°πΆπ΄ π°πΆπ°πΈπ½ππ ππ·π΄ π π°π²π²πΈπ½π΄ (@72powpow) October 24, 2022
Related: An Open Letter to the WEF: Dear Klaus, You Will Not Own Me, and You Will Like It
Via Reuters:
Nine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their customers to participate in the market.
Demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected to soar as companies seek to use the credits to help meet net-zero emissions goalsβ¦
Each of the banks – BBVA, BNP Paribas, CIBC, ItaΓΊ Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC and UBS β have invested $5 million in Carbonplace, which will connect buyers and sellers of credits through the banksβ¦
The funding will be used to grow the team and scale up the platformβs infrastructure.
First, participation will be voluntary, then it will become mandatory.
Here’s what’s going to happen next: Once the digital infrastructure is in place and enough of the public has been propagandized into submission to make the project viable, transactions exceeding a carbon limit (on a daily, weekly, or monthly basis) will be declined unless the user buys an “offset” through the bank β the new-age “indulgence” to the Neoliberal Church β to theoretically neutralize their “carbon footprint.”
Join the conversation as a VIP Member