So apparently we’re going to “partner” with giant investment company, BlackRock, to invest in renewables via a $2 billion fund, all part of our Net Zero effort to get to 100% renewable energy by ????…. well, sometime this century.

Naturally “Chippie” is very happy about this and it’s across the MSM, both here and overseas.

To be fair, some on the Left are not happy about this: BlackRock are Corporate Nazgul and this investment deal is manipulative Greenwash.

Yeah, preach it brother Bomber Bradbury. I’m confident that the likely incoming National-led government will fully approve of this when they land in government later this year because National worship huge corporates.

Perhaps all the parties should go back in time, just to just over a year ago:

Investment Giant BlackRock Loses $1.7 Trillion In Six Months

BlackRock lost $1.7 trillion of its clients’ money since the beginning of the year — the largest sum ever lost by a single firm over a six-month period, according to a Wednesday report from Bloomberg analyst Marc Rubenstein.

Blackrock are one of the largest fund managers in the world, controlling trillions of dollars of their clients’ funds – which is often the retirement and pension savings of typical American investors.

So why is this good news? Because BlackRock have been one of the leading proponents of the bullshit known as ESG (Environmental, Social, and Governance), insisting that companies it invests in use this method of measuring themselves rather than boring old crap like revenue, profits, dividends and ROI (Return on Investment):

By adopting ESG goals — or, in the case of BlackRock, pushing portfolio companies into adopting ESG goals — executives commit themselves to pursuing green energy, appointing a certain number of minorities to serve as managers, or otherwise blending profitability with progressive politics.

BlackRock have been bullying bastards on this matter since they have so much financial power. They even managed to place three environmental activists on the 12-person board of Exxon Mobil. That’s how much power they have.

Or perhaps had. You’ve all heard of luxury goods, things you can buy when you have a lot of money. Well there are also things called luxury ideas; electric cars in a world of $NZ 20/litre petrol; a world of organic farming and 100% renewable energy, But also very gauzy academic ideas like ESG or White Privilege and Critical Race Theory.

Which is to say that when times get tough, when the food, the petrol and the money start running out and that Bachelor in Environmental Gender Studies just ain’t pulling in the big bucks, luxury ideas tend to get jettisoned, and right quick. BlackRock is not at that stage yet; more pain must be inflicted on them.

However, an exclusive Daily Wire poll conducted by Echelon Insights showed earlier this year that 64% of respondents believe “individual investors whose savings are being invested” should ultimately decide whether retirement funds and pension plans are allocated according to ESG criteria. A mere 20% believe that “Wall Street asset managers” should make such decisions.

As an old varsity buddy cum investment manager in Wellington told me in the wake of the 1987 share market crash, regarding some clients who’d ignored his warnings, “People don’t react until the blowtorch is applied to the goolies”.

Goolie burning is a nasty business, as Sri Lanka has found out and which deserves its own post. But for the moment let’s note this:

“But the underlying reason for the fall of Sri Lanka is that its leaders fell under the spell of Western green elites peddling organic agriculture and ‘ESG,’ which refers to investments made following supposedly higher Environmental, Social, and Governance criteria. Sri Lanka has a near-perfect ESG score (98) which is higher than Sweden (96) or the United States (51).”

Michael Shellenberger, from his article ‘Green Dogma Behind Fall Of Sri Lanka‘

It’s a tempting idea to kidnap the BlackRock execs and dump them in Sri Lanka where they’ll have, shall we say, direct contact with the joys of near-perfect ESG score. Assholes.

Meanwhile in China….

Because nothing says “Your bank is safe but you can’t get your money out” than encountering a Main Battle Tank blocking the front doors.

Could be worse; in the future they’ll probably be using these instead – and this is not from the well-known firm, Boston Dynamics that pioneered these things: this is a Chinese model.