Former Senator’s Call to the Australian Prime Minister

[ad_1]

The Australian Prime Minister needs to resist pressure from foreign investment giants like BlackRock on climate change. Similarly, the federal government has resisted the economic coercion of the Chinese Communist Party (CCP).

Former Nationalist Senator Ron Boswell said business and political leaders in the United Kingdom (UK), the United States and the European Union (EU) have sought to reduce emissions in Australian industry, which is false and overturns parliament. He said he did.

“I think this is a blatant disregard for Congress and its elected representatives, who are trusted by the Australian people to determine what is legal and what is illegal,” he said of trade and investment growth. He told the Joint Standing Committee.

“For Larry Fink [CEO of BlackRock] He came as if he were omnipotent, and in my opinion, declaring that no one in the coal mining industry would succeed in Australia is just completely out of control of power. “

“That’s why I’m making this submission because I’m wondering,” Who’s next to the block? ” Who controls this country? Elected representative or Larry Fink and his BlackRock funding? It’s time for us to stand up in Australia, “he added.

Epoch Times Photo
BlackRock Chairman and CEO Lawrence D. Fink will attend a session at the World Economic Forum’s (WEF) Annual Meeting on January 23, 2020 in Davos. (FabriceCoffrini / AFP via Getty Images)

“I’ve seen the Prime Minister stand up to defend Australia’s rights and insist on Chinese proceedings. Indeed, if you can draw a line to the Chinese, you can draw a line to BlackRock and Australian finance. You can protect your sovereignty. “

The Joint Standing Committee is investigating the financial sector’s support for Australia’s export industry. One of the key themes that emerged in the course of the study is the reluctance of Australian banks, insurance companies, and sovereign wealth funds to support or fund domestic coal mining projects.

This, in turn, is becoming increasingly difficult for small and medium-sized resource companies, who are struggling to fund their projects and warn that rural towns will eventually be defeated.

Australian financial institutions are moving to climate change, including withdrawing financial services from international investors, whose Australian banks rely on offshore financing, to companies participating in industries that are considered a major source of emissions. He said there was increasing pressure for further action.

According to representatives from the National Australia Bank, Westpack, and ANZ, part of this pressure was that BlackRock’s Larry Fink addressed all major CEOs to outline the expectations of investment giants on climate change and activist. It was brought about by the strike shareholder group. For climate change initiatives during the Annual Meeting.

Epoch Times Photo
Protesters will participate in the School Strike 4 Climate Rally on May 21, 2021 in Melbourne, Australia. (GrahamDenholm / Getty Images)

However, Boswell said foreign agencies and governments are “playing double games” and simply “outsourcing” high-emission industries to developing countries.

“China’s share of global manufacturing output has risen from 8.7% in 2004 to 28.4% in 2018, according to UN data,” he submitted in writing (pdf). “In the same period, manufacturing’s contribution to UK GDP has halved from 25% to about 11%.”

“The US manufacturing industry has also hollowed out in the last decade, making the EU a net importer of high-emission steel,” he added. “Does this mean that the UK, US and EU economies have stopped using high-emission commodities?”

July figures released by the International Energy Agency (IEA) show that global electricity demand will increase by 5% in 2021 and 4% in 2022.

Most of the demand comes from Asia, and the IEA estimates that China may account for more than half of the world’s growth and India may account for about 9 percent. However, the IEA also acknowledged that despite the growth of the renewable energy sector, fossil fuels will be needed to meet its demand.

Meanwhile, Australia continues to face pressure to set more ambitious goals to reduce domestic carbon emissions, a move that has so far resisted.

Daniel Y. Ten

[ad_2]