Cryptocurrency: Energy and E-Waste Memes Are FUD Propaganda Spread by Dying GovBankCorp

[grarpamp]

Lefty Eco-Wokester Sen Warren Debunks S.Claas on
Bitcoin Crypto Electricity Power Energy Consumption Global Warming.

Add it ALL up, the ENTIRE Global GovCorp Fiat Banking Finance
Monetary and Markets Systems, and ALL that goes into it...
crypto uses nothing in comparison.


Elizabeth Warren Claims Finance Is An Enormous Greenhouse Gas Emitter

https://twitter.com/SenWarren/status/1475541998522224643
https://www.bloomberg.com/news/articles/2021-12-14/wall-street-may-trigger-climate-financial-crisis-green-insight
https://www.carbonbubble.net/
https://www.bloomberg.com/news/articles/2021-11-24/wall-street-faces-a-22-trillion-carbon-time-bomb-green-insight

"Greenhouse Gas Emitted by the Financial-Services Industry is
Outrageous," says Warren...

    The volume of greenhouse gas emitted by the financial-services
industry is outrageous. If it were a country it would rank as the
fifth-largest emitter in the world. Regulators need to crack down on
the financial sector's role in the #ClimateCrisis.
https://t.co/jOQIYgpGZb
    — Elizabeth Warren (@SenWarren) December 27, 2021

Wall Street Is Close to Triggering a Climate Financial Crisis

    A study authored by the Sierra Club and the Center for American
Progress shows that eight of the biggest U.S. banks and 10 of its
largest asset managers combined to finance an estimated 2 billion tons
of carbon dioxide emissions, based on year-end disclosures from 2020,
or about 1% less than what Russia produced.

    If the financial-services industry was a country, it would rank as
the world’s fifth-largest emitter of greenhouse gases.

    The report’s authors are urging the Biden administration to take
immediate steps to slash the financial sector’s role in global
warming, lest it trigger a financial crisis that dwarfs that of 2008.

The study is called Wall Street's Carbon Bubble.

The Sierra Club and the Center for American Progress (CAP) want the
SEC to take these actions.

    Require all financial institutions disclose all emissions embedded
in their portfolios and attributable to businesses for whom they
provide services.

    Ensure that investment fiduciaries keep their commitments to
clients and the public, including those related to how they invest and
vote their shares.

    Incorporate climate risk into the supervisory ratings they assign to banks.

    Administer climate-related stress tests to identify the banks’
potential losses from climate change (Moody’s Investors Service
estimates that banks globally have $22 trillion of exposure to
carbon-intensive industries).

    Require that banks fund riskier investments with more equity
capital and less debt.

    Implement climate-risk surcharges on “global systemically important banks.”

    Adjust deposit insurance premiums to reflect climate-related risks.

    Proactively address racial and economic justice issues that
intersect with such climate-risk related reforms.

In short, the Sierra Club and CAP claim that financing companies is
the exact same thing as creating emissions.

The report took aim at these banks.

1. Bank of America 2. Bank of New York Mellon Corp. (BNY Mellon) 3.
Citigroup 4. Goldman Sachs 5. JPMorgan Chase 6. Morgan Stanley 7.
State Street 8. Wells Fargo.

It also took aim at  asset managers:

1. Bank of New York Mellon Investment Management 2. BlackRock 3.
Capital Group 4. Fidelity Investments 5. Goldman Sachs Asset
Management 6. JP Morgan Asset Management 7. Morgan Stanley Investment
Management 8. PIMCO 9. State Street Global Advisors 10. The Vanguard
Group.

The mere buying and selling of securities causes huge emissions.

    It is worth noting that the approach taken by this analysis
differs from prior efforts to calculate financed emissions of banks or
asset managers. This is due to the scope of the assessment, which does
not focus only on carbon-intensive sectors but expands across several
asset classes, geographies, and industries beyond those related to
fossil fuels. As a result, the level of granularity of the
calculations and values differ from previous efforts and is more
holistic in nature.

Real Estate Too

The real estate calculation factored in the outstanding amount,
estimated building energy consumption per square meter (m2 ),
estimated area financed in m2 based on the average dwelling type, and
standard emission factors specific to the energy source.