Staff Reports
In the Biden administration’s latest attempt to force their radical agenda down the throats of the American people, the U.S. Department of the Treasury has released its “Principles for Net-Zero Financing & Investment.” This move is part of their whole-of-government approach to push for a transition to so-called “green” energy, even though the reality is far from green. Just ask the whales off the coast of New England who are suffering due to the administration’s misguided policies, or the forced laborers in Africa’s EV battery supply chains.
Treasury Secretary Janet Yellen and her cronies claim that these principles will “support the mobilization of more private sector capital” to tackle climate change and capitalize on the supposed economic opportunity of the green transition. But who exactly is benefiting from this? Certainly not the hardworking American taxpayers who will foot the bill for this costly endeavor.
The Treasury Department proudly boasts about the $340 million commitment from various organizations over the next three years to support research, data availability, and technical resources for financial institutions. But let’s not forget that this money is coming from billionaire activists like Michael Bloomberg and the Bezos Earth Fund. It’s no surprise that these left-wing elites are on board with Biden’s agenda, as they have no problem spending other people’s money to further their own virtue signaling.
The Treasury Department claims that the “climate crisis is propelling a massive economic shift,” but conveniently forgets to mention that this shift is being driven by government support, not genuine demand from the market. Instead of allowing businesses and consumers to make their own choices, the Biden administration is using heavy-handed tactics to force financial institutions to adopt net-zero principles.
Consumers’ Research Executive Director Will Hild rightfully criticizes this move, calling it an “open declaration of war on consumers.” The Biden administration is more concerned with appeasing liberal activists like Michael Bloomberg than reducing the skyrocketing costs at the grocery store and gas pump that everyday Americans are facing. While Biden and his allies in the financial industry pat themselves on the back, the American people are left with nothing but higher prices and inflation.
These principles established by the Treasury Department are nothing more than woke priorities of the left, masquerading as solutions to climate change. They preach about reducing greenhouse gas emissions and establishing credible metrics and targets, but at what cost? American businesses, especially those in the insurance and financial service sectors, may find themselves in legal jeopardy if they join these net-zero commitments. State attorneys general have warned that these commitments may violate antitrust and consumer protection laws. It’s clear that this push for net-zero is more about collusion and market manipulation than it is about saving the environment.
But despite these warning signs, the Biden administration is barreling full steam ahead with their radical agenda. They have shown time and time again that they are willing to overstep their constitutional limits and ignore the consequences of their actions. We cannot allow our elected representatives to be bypassed by transnational corporate alliances who think they know what’s best for the American people.
It’s high time we put an end to these misguided net-zero commitments and focus on real solutions that benefit all Americans. We should be prioritizing affordability, job creation, and innovation, not bowing down to the whims of billionaire activists and the woke left.
