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It is clear that state legislators have exceeded their target. Many states are currently considering bills to address small business and consumers. As government meddling is a serious threat to free markets, bank lobbyists have been aggressively resisting the bills. However, they should be alarmed because the Chamber of Commerce is now calling them. Because the Chamber of Commerce is the perfect example of the free marketplace.
The large banks, along with the powerful corporations they back, are opposing any attempts to safeguard the rights of small business owners and individuals as these bills are being reviewed. Lobbyists talk of “free market,” “independent businesses,” and “free enterprise” in such glowing terms it almost brings a tear to the eye. One thing is missing from these hearings: someone starting to clap slowly after one of the free-market independence speeches. They are hiding behind these words. Their economic system isn’t free-market capitalism. It is corporate cronyism.
U.S. Chamber of Commerce advocates a market-based approach towards climate change. It may sound appealing to anyone concerned about climate changes. But what does this “market-based” approach look like in practice?
Article in Bloomberg discusses one such “market-based” approach: the Net Zero Insurance Alliance, a group of the largest insurance companies in the world who have jointly pledged to eliminate greenhouse gas emissions by adopting Net-Zero 2050. This group considered a proposal to “include a commitment to exit coal insurance” in the terms of membership in theAlliance, however, this proposal was scrapped on advice from legal counsel saying this level of alliance This could lead to antitrust violations.
Antitrust is an important initiative of the U.S. Chamber of Commerce. But how do you reconcile this with attempts to align large-scale banking, investment and insurance companies with regulators?
It BloombergThis article explains how the Net Zero 2050 alliances are going to tackle antitrust concerns. According to the article the Net Zero Insurance Alliance is part a larger group called the Glasgow Financial Alliance For Net Zero. It is a collective of over 450 businesses with total assets of $130 trillion. Further, Butch Bacani, program leader of the UN’s “Environment Programme’s Principles for Sustainable Insurance Initiative” is labeled a “key architect of the alliance.” The response of the Alliance, the UN, the European Union, and the U.K. to anti-trust concerns is simply to rewrite antitrust laws to carve out “collective action towards net-zero emissions.” After all, the article concludes, “Taking a position on fossil fuels, especially coal, is critical to reaching net zero as the burning of thermal coal is the single largest contributor to the increase in global temperatures.” Too big to fail is now big enough to collude.
ESG advocates are starting to realize what state legislators face when they try to stop the movement. These states have ESG policies and it is unacceptable for them to pass legislation that would harm vital state interests. A type of bill that is currently being passed in many states seeks out businesses who are refusing or limiting business relationships with state-owned business sectors like oil and gas and agriculture.
Large companies are now admitting that they implement policies against the state’s vital interests by fighting these bills. They expect that each state will continue to funnel public money for these programs, even if they kill these bills. Businesses aligned in Net-Zero 2050 projects feel empowered because they think these efforts have been far enough advanced that they now can honestly disclose what they’re doing.
Lobbyists who oppose these legislative attempts argue that these businesses are independent and these bills do not constitute government intervention in the free market. The fact that the Net Zero 2050 Initiative requires alliances or collusion to be implemented is something they ignore.
Important to remember that lobbyists representing large banks and Chamber argue that the government shouldn’t dictate how businesses operate. In reality, they mean that local and state government should have no voice. Although they accept Washington DC and other international governments’ meddling, they insist that state legislators understand their position.
The Great Reset’s true extent is evident in the fights that are taking place at the state level. Everybody involved in these initiatives must be aware that governments and corporations behind ESG Movement and Net-Zero 2050 Initiative won’t just give up when there is resistance. These cronies have spent years and trillions of dollars to create these alliances; they will not surrender without fighting.
Bette Grande ([email protected]) The Heartland Institute has a Government Relations Manager.
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