Australian LNP Senator, Matt Canavan has condemned the closure of regional banks kowtowing to Environmental Social Governance (ESG).
Responding to a senate hearing held in May, Canavan slammed the Banking pledge of allegiance, to what is the equivalent of a social credit scoring system, stating: “Why should people in the bush suffer so that banks can signal their virtue?
“We have to put a stop to the woke mind virus that is destroying our sense of community.”
Chairing the hybrid hearing, featuring Malcolm Roberts (One Nation), and Gerard Rennick, Canavan asked if the removal of banks from regional areas was divorcing banks from their customers. (See page 17 of the Hansard).
To which, Councillor Ramon Jayo, Mayor of Hinchinbrook, an Island in North Queensland, answered, “That’s the reality.
“In the old days – on Friday afternoons – you’d be having a beer at the pub with your bank manager. That created relationships and that’s how things got going. That’s how investment started to happen. We don’t have any of that anymore,” he added.
Today, this is all done by a machine in the city, Jayo explained.
Jayo’s comments are supported by banks like the ANZ which place their home loan division outside Australia.
The closure of local banks further frustrates customers who have to deal with long delays and language barriers.
Risking identity theft, customers are forced into sending their intimate personal information to a foreign country, in order to be served by an Australian bank.
Expanding these concerns is the banking sector’s adoption of the cancel culture practice of de-banking.
De-banking is a punitive practice where banks limit, or declines services to individuals or businesses, for perceived social indiscretions.
These “indiscretions” can include, “hate speech,” “dissent,” “criticism,” or words, actions of deeds, viewed – often arbitrarily – as “extremism,” and/or “domestic terrorism.”
Other than Go Fund Me, and PayPal, who have cancelled legitimate causes, banks like JPMorgan Chase are gaining a sordid reputation for cancelling customers in order to ‘service a narrow ideological agenda.’
In March, Nebraska State Treasurer, John Murante, recounted just how far Chase was overreaching,
‘[They have] a disturbing track record of de-banking clients for biased or arbitrary reasons,’ Murante said.
This includes, ‘vendettas against fossil fuel companies, and firearm manufacturers.’
Additionally, ‘Chase is also conditioning its services on whether company employees agree with customers’ political or religious activities.’
Closely related, is the push for those banks to limit, or restrict lending based on subjective ESG quotas.
Farmers and small businesses in regional areas may have loans arbitrarily rejected solely on the basis of so-called “climate justice” considerations, and not on an objective analysis of borrowing power, or an ability to service the loan.
Hence, Senator Matt Canavan’s search for answers.
Posting a screenshot of the Bank’s “climate action” report on Twitter, Canavan showed the bank boasted of a ‘39% reduction in emissions due to property consolidation.’
Calling on ANZ to explain whether they were closing branches to meet ESG “emissions” goals, the bank’s representative, Michael Wake, said, “I’m not sure I’m qualified to comment on our ESG statements.” (p.19)
ANZ, an increasingly Woke corporation, that runs, and funds left-leaning trends, defended their closures, saying, “It is a very difficult decision when we do make the decision to close a branch.”
Those closures are due to “actual customer traffic,” the hearing was told.
The ANZ spokesman said, “part of their action” in making sure regional Australians have access to financial services was the development of a strong fee-free ATM network.
None of this is reassuring.
Banks dehumanising their services, then functioning as judge, jury, and executioner, should have the Australian public deeply concerned about the kind of power these banks could wield, should Australia become a cashless society.
De-banking, offshore loan servicing, zero face-to-face accountability, and borrowing restrictions – based on dubious “climate science” computer modelling “crisis” predictions – make COVID’s livelihood-killing lockdowns look like child’s play.
No wonder, Elon Musk, Tesla’s Iron Man environmentalist, is on record stating that he is “increasingly convinced corporate ESG is the Devil Incarnate.”