UK Chancellor Rishi Sunak will today announce that every company that is listed on the UK Stock exchange will be legally obliged to produce annual plans for becoming more green. Firms that fail to comply will be punished financially.
The Financial Conduct Authority will police it. Companies that fail to publish plans on how they plan to transition to net zero could be fined or kicked off the stock market.
According to The Telegraph:
It means companies involved in the mining, drilling for oil, burning coal to produce power and other carbon intensive activities will have to prove they are planning to go green. All financial institutions in Britain would also be bound by the new rules, meaning banks and pension funds will come under pressure to make eco-friendly investments.
The new rules could come in as early as 2023, with a consultation being published and talks beginning with the FCA, who will have a key role in shaping any changes adopted.
Think on this. What they do to business today, they will do to you and me tomorrow. Sunak is laying down the foundation for a social credit system of governance.
Eventually, private individuals will be legally obliged to demonstrate that they have a net zero plan for themselves and their families. Failure to comply will result in financial penalties. It’ll be very easy for them to implement after we’ve gone totally cashless.
The UK government has stated that it plans to roll out a centralised digital currency, run by the Bank of England.
Bitcoin Magazine gives a word perfect definition of a centralised digital currency: Imagine a digital dollar that is equal to one U.S. dollar. This digital dollar could: Be tracked across every movement, where the account that is credited appends that information to the digital dollar, in perpetuity.
Be stopped, returned to the source, returned to the previous account or even destroyed at any moment.
Have a set of inherent rules at the source, such as a lifespan of one year, and a specified amount of depreciation per unit of time.
Can be credited to only certain accounts, such as users who have a social credit score of > X. The rules are endless, because they are determined at will by the creator in an arbitrary manner or via fiscal or monetary policies set by the government or central banks.
Chilling isn’t it, that line about crediting it to accounts with a certain credit score? The Telegraph has seen an advance copy of the speech that Rishi Sunak will deliver at COP26 later. It contains the line:
“rewire the entire global financial system for net zero.”
I keep coming back to a two word phrase. Open tyranny.