5 things on NZFs war on ‘woke’ banks

NZ First MP Andy Foster’s ‘woke’ bank bill drawn from ballot, but not backed by National and Act – yet, at least

Neither National nor Act are throwing their support behind a New Zealand FirstMember of Parliament’s bill aimed at stopping banks from withdrawing services from customers for “woke” reasons – yet, at least.

Both parties will look into the specifics of Andy Foster’s Members’ Bill, drawn from the ballot on Thursday, before backing it.

The bill seeks to fine financial institutions that withdraw or refuse to provide customers with financial services for reasons that aren’t “commercial”.

It specifically tries to stop banks from ditching customers that don’t meet their environmental, social and governance (ESG) policies.

NZ First has taken issue with some banks curtailing lending to businesses legally involved in fossil fuels, if not seeking to close their accounts.

The party’s position potentially clashes with the view, supported by the courts, that banks can choose who they do business with.

Luxon said the banks should go back to offering banking services to petrol stations and coal mines. He said these were services New Zealanders relied on and the banks should continue to offer them services.

Firstly, what happened to allowing the free market to do what it does? These banks have decided the necessity of decarbonising to save the planet and capitalism, why is the Prime Minister stepping in to tell Banks what they can and can’t do?

Secondly, why is the small Government Party always acting like nanny State on meath when it’s a culture war issue?

Thirdly, NZF are political prostitutes who will pass any law for their donors, what this move against Banks is all about and all for are the polluter interests who have fuelled exploitative resource exploitation for 300 years.

Fourthly, Māori have cultural memory of the first wave of white settler capitalist exploitation resource taking, they have the flax roots knowledge of what sustainability and environmental protection looks like, it is no wonder that international right wing think tanks always aim to attack indigenous rights first to enable the next generation of exploitative resource stripping.

And fifthly, in the words of Professor Wayne Hope from his new incredible book, The Anthropocene, Global Capitalism and Global Futures…

The corporate ambit of emissions culpability also includes transnational finance capital. In October 2019, journalist Patrick Greenfield drew from the think tank Influence Map and business data specialists Proxy Insight to examine the investment holdings of BlackRock, Vanguard and State Street. Their combined portfolios presided over US$286.7 billion of oil, coal and gas company shares administered through 1 712 funds. These figures excluded direst and non-listed fund holdings. Such investments were, and are, used to manage major funds involving pensions, university endowments and insurance companies. These figures reiterate the general principle of corporate culpability for carbon emissions and point to the contribution of global finance. Further to this matter, Bank of England Governor Mark Carney surmised that multi trillion-dollar world capital markets were financing projects and activities likely to raise average global temperatures 4% more than pre-industrialised levels.

…by banning Banks from refusing to engage in this climate changing disaster NZF is putting the interests of the mega-rich before you the people.

The Political Right are your enemies working for the most wealthy to destroy the planet.

Wake up clowns.

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