Financing the global agendas, Mark Carney’s role, and the costs to Canadians

Consider that the UN’s general assembly of member countries approved a $3.59 billion budget for UN operations in 2024. This figure does not include the additional resources the UN will receive for its peacekeeping forces and their special missions. It does not include the multiple specialized agencies of the UN (last count was 43 in total) with their combined budgets totaling $67.4 billion.

Not to be forgotten when factoring the costs of the global agendas are the annual budgets for the World Health Organization at $6.7 billion US (of which the US contributes $400 million and the Bill and Melinda Gates Foundation contributes $670 million) and the administrative budget for the World Economic Forum, which is approximately $640 million.

The UN is financed by its member states -- both an assessed amount and voluntary contributions. Increasingly, the UN is looking at partnering with private funding sources, largely to underwrite the global climate action initiatives that comprise the UN’s Green Agenda (the subject matter of my last column). Again, the Green Agenda has become the raison d’etre of the global movement, eclipsing all global agendas, and its finances underwriting all the global agendas.  

Consider that the billions of dollars required for the administration and program costs of the three international organizations – the UN, WEF and WHO – pale in comparison to the exorbitant money spent by member countries implementing the Green Agendas. As in Canada’s case, the cost is not only the tax dollars spent on the international organizations, but the impact of the federal government’s green policies and regulations placed on Canadian business, trade, and commerce.

And consider that as costly as it has been for countries, the UN plans to expand and enhance its Green Agenda. For years now, the UN has set a budget of $100 billion annually for member countries to spend globally on the Green Agenda. Most recently, however, the $100 billion annual cost commitment for member countries has become “a floor and not a ceiling” for climate financing. Furthermore, the UN Environment Programme (UNEP) has now estimated that the adaptation costs for the green initiatives in the world’s developing countries alone will be in a range of $140 billion to $300 billion per year by 2030, and $280 billion to $500 billion per year by 2050. Large numbers. Unbelievable.

It should be noted that the UN does not refer to these dollar figures as a cost but rather “an opportunity.” Money spent on a green economy will be a beneficial investment that the UN states could yield economic gain of $26 trillion through 2030 compared to business-as-usual. How exactly the UN financiers calculated these figures is unknown.

The UN suggests there are a variety of financial instruments that can be applied to raise the money. Climate financing can include the use of green bonds, direct project-based loans, and direct investments in energy or technology providers.  The UN presents a full array of international climate funds for countries to invest in a backgrounder found on its website.  

• Countries recognized the need for specific climate financing in the Paris Agreement, the legally binding treaty adopted by the international community in December 2015.

• It calls for “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. ”

• Climate Investment Funds (CIFs): The $8 billion fund “accelerates climate action by empowering transformations in clean technology, energy access, climate resilience, and sustainable forests in developing and middle-income countries.” 

• Green Climate Fund (GCF): Set up by the UNFCCC in 2010, GCF is the world’s largest dedicated climate fund, mandated to support mitigation and adaptation action equally in developing countries.

• Adaptation Fund (AF): The fund has committed some $830 million since 2010 to help vulnerable communities in developing countries adapt to climate change.

• Global Environment Facility  (GEF): GEF aims to “catalyze transformational change in key systems that are driving major environmental loss”, in particular energy, cities and food.

• UN-REDD: Three UN agencies (UNEP, UNDP and FAO) teamed up a decade ago to protect forests, a “per-eminent nature-based solution to the climate emergency.”

• Clean Technology Fund (CTF):  The $5.4 billion is “empowering transformation in developing countries by providing resources to scale up low carbon technologies.”

In another backgrounder found online, the UN outlines conditions for member countries to commit to “climate change.” It states that those countries who have contributed more to the problem (Canada is labelled one of “those countries”) must assume a greater responsibility (read: must pay more) for solving it. The UN has put forward a finance action plan with six points to adequately underwrite its Green Agenda.

1. Make good on the $100 billion annual promise to developing countries for climate action.

2. Double finance to help countries adapt to climate impacts.

3. Reform the World Bank and other development banks to make them fit-for-purpose.

4. Replenish the Green Climate Fund.

5. Operationalize the new loss and damage fund.

6. Protect all people from climate disasters with early warning systems by 2027.

Further to these points, the UN’s Secretary-General Antonio Guterres has repeatedly called for an extensive reform of the international financial system to place climate and the UN development finance a priority. He has emphasized that the reform of global financing is necessary to combat the climate crisis. This year, the Head of the European Central Bank, Christine Lagarde echoed this imperative: “Climate change” requires a complete overhaul of the entire economy and financial system, in line with the “green transition”—including the need to “reduce our carbon footprint in everything we do, from banknotes to how we supervise banks.”

Enter Banker Mark Carney

So, it costs considerable money – and will cost considerable more – to maintain the globalists’ agendas. One of the individuals that the heads of the international agencies have turned to to help with the finances of the Green Agenda is Canadian Mark Carney, who is expected to keep the wheels greased. Carney is the central player, acting as part-broker, part-croupier.

Carney is an agent for the UN with an official title of the United Nations Special Envoy for Climate Action and Finance.

During his “work hours,” Carney is in Toronto sitting as the Chair of Brookfield Asset Management, which is a Canadian multinational company and one of the world's largest investment management companies. Brookfield manages more than $750 billion (US) of assets worldwide.

Carney holds many other positions of responsibility: member of the Global Advisory Board of PIMCO (an American global investment management firm), Harvard University, Rideau Hall Foundation, Bilderberg, and sitting on the boards of Bloomberg Philanthropies, the Peterson Institute for International Economics, the Hoffman Institute for Global Business and Society at INSEAD, Cultivo, as well as Senior Counsellor of the MacroAdvisory Partners, Advisor of the Watershed, and also serves as the Chair of Chatham House, the Group of Thirty, and the Advisory Board Chair for Canada 2020.

Earlier in his career, Carney spent 13 years with Goldman Sachs offices in London, Tokyo, New York, and Toronto, then Deputy Governor at the Bank of Canada and senior associate deputy minister of Finance, before serving as the Governor of the Bank of Canada (2008 to 2013), and then went on to serve as Governor of the Bank of England (2013 to 2020). It’s a rather illustrious career resume for this Canadian-born banker.

In late 2019, just before the pandemic outbreak, Carney agreed to become a special envoy for the UN with the prime responsibility of directing the international financial sector to prioritize climate risk as well as coopting multinationals to support the global initiatives being championed by the UN and WEF.

With the aggressive plans and these exorbitant costs – the UN needed a strongman. Carney was that financier.  

Let’s take a look at Mark Carney’s playbook and what it entails for the UN’s member countries that have committed to the Green Agenda. Let’s also look at the dollars Canadians pay to the UN and its agencies, and attempt to factor the costs of implementing the globalists’ net-zero initiatives within Canada.