New Zealand officials on Thursday heralded passage of a groundbreaking law requiring financial institutions to disclose climate-related risks.
“This is a landmark day,” Commerce and Consumer Affairs Minister David Clark said in a speech to Parliament.
At issue is the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill, which had its third reading Thursday.
A summary of the measure from the Business Ministry touts the bill as a step toward making the country’s “financial system more resilient” and reaching New Zealand’s goal of net zero CO2 emissions by 2050. According to the ministry, the goals of the bill are to:
ensure that the effects of climate change are routinely considered in business, investment, lending, and insurance underwriting decisions;
help climate reporting entities better demonstrate responsibility and foresight in their consideration of climate issues; and
lead to more efficient allocation of capital, and help smooth the transition to a more sustainable, low emissions economy.
A joint statement Thursday from Clark and Climate Change Minister James Shaw frames the bill, which will require the annual disclosures starting in 2023, as the first of its kind across the globe.
“This bill will require around 200 of the largest financial market participants in New Zealand to disclose clear, comparable, and consistent information about the risks, and opportunities, climate change presents to their business,” Clark said in the statement. “In doing so, it will promote business certainty, raise expectations, accelerate progress and create a level playing field.”
Shaw, for his part, said the measure would “encourage entities to become more sustainable by factoring the short, medium, and long-term effects of climate change into their business decisions.”
“New Zealand is a world-leader in this area and the first country in the world to introduce mandatory climate-related reporting for the financial sector,” added Shaw. “We have an opportunity to pave the way for other countries to make climate-related disclosures mandatory.”
Originally published on Common Dreams by ANDREA GERMANOS and republished under a Creative Commons License (CC BY-NC-ND 3.0).
Possible WW3 over Digital Ads with Zuck & Google Vs MSFT & Apple
Sometimes, in order to tackle a complicated subject it is necessary, first, to take a step back. For example, before tech and the internet became the dominant economic force it is today there were hundreds, even thousands of companies that had important roles to play in the economy.
Not they other companies are unimportant today, but the sheer scale of trillion dollar (and growing) tech companies such as Google, Facebook who combined represent a near monopoly in digital advertising, and Apple and Microsoft, each also with strangleholds in some markets, but on the outside in the war over digital ad income.
This disparity and imbalance is so massive as to be nearly unprecedented in history. And, now, as the first blind hero worship phase has ended, we are entering a phase where the nearly ubiquitous influence and dominance over lives and fortunes are finally being questioned.
Next up: The war erupting as a result of the extreme correlation between the entrenched and overwhelming dominance of Facebook and Google in digital ads, the income source of media producers, and the near demise of that industry.
The situation has finally become so critical and lopsided that governments are finally stepping in to enforce changes that could never happen while one side, the “dominant digital platforms” holds all the cards and power.
One new axiom that has emerged with the rise of big tech monsters is that only a monster can hope to prevail in a war with another monster. Enter Kong vs Godzilla.
In this emerging world war it is more complicated still; on one side are the parallel duo of Facebook and Google, with similarities in the way they dominate digital advertising, but also in that they share a “surveillance” based business model using private user data to control markets and traffic.
On the other side are Apple, which has staked a claim to user privacy as a means to clearly differentiate a positive product and service based model, Microsoft, that appears to simply want to play the underdog as a search engine alternative to google and a “smaller” player in the digital ad space.
And then, in a corner of distinction above all others, lies the power of world governments.
World governments are playing a pivotal role as a kind of referee – finally stepping in, as the dangers and damage caused already by the duo of Facebook and Google, have awakened the possible regulatory, anti-trust actions that only they can enforce.
First was the rumble down under, now, on to Europe and North America
Even as a kind of truce has erupted in Australia, with the government making specific alterations to the News Media Bargaining Code that, apparently, appeased Facebook enough to withdraw its universal ban on hosting Australian news product.
According to AP News: Google and Facebook, take a combined 81% of online advertising in Australia and initially condemned the code as unworkable.
That has rapidly changed, and the stand-off has come to at least a temporary end.
Also likely, is that the massive demand for an app offering direct access to some of the exact stories that Facebook banned sent a strong enough message that competition for viewers is only one click away.
Motivating the two sides to come to terms and for Facebook to back down from its draconian stance vis-à-vis the new law.
Even as the Aussie skirmish fades a new front in Europe is emerging
Microsoft announced on February 22nd that is was joining a coalition of European Publishers to promote an “Aussie style” code for digital platforms to remunerate news content producers.
In addition to Microsoft, groups involved include the European Publishers Council (EPC), News Media Europe (NME), European Newspaper Publishers’ Association (ENPA), and European Magazine Media Association (EMMA).
Previously, Microsoft had already Earlier this month, Microsoft was lobbying in support of other countries following Australia’s lead in creating legislation mandating that news outlets to be paid for articles published on the platforms in the United States, Canada, the European Union, and other countries.
“We welcome Microsoft’s recognition of the value that our content brings to the core businesses of search engines and social networks because this is where Google and Facebook generate the vast majority of their revenues.
It is crucial that our regulators recognise this key point, and don’t get misled into thinking that side deals on the basis of a stand-alone product are the same thing, because they are not at all and undermine the neighbouring rights that we have been granted. All publishers should get an agreement – no one should be left out”.
-CHRISTIAN VAN THILLO, CHAIRMAN OF THE EUROPEAN PUBLISHERS COUNCIL
EPC, NME, ENPA, EMMA, and Microsoft call for arbitration to be implemented in European or national law that requires search engines and media platforms that aggregate news pay for content based on the Publisher‘s Right set out in Directive 2019/790.
Pandora’s Box is open and spilling all over the highway
Interestingly, Microsoft is, in a roundabout and equally self-severing way (according to critics) is now the second trillion dollar tech monster to take a direct stance against Facebook and Google and the monopoly strangle hold the enjoy over the financial life-blood of advertising that is essential for journalism and news production to survive, let alone flourish.
Critics will point out that Microsoft’s Bing search engine with a tiny market share compared to Google (in chart above the ridiculous 90% plus monopoly can be seen) has nothing to lose and everything to gain by supporting government efforts to even the playing field. And Apple? Facebook has already declared war and alleged all sorts of evil motivations for the privacy controls being built into its operating systems.
But that kind of talk is a bit late and weak now that the ultimate tech monster showdown has already begun. The first crack in a flawed and destructive business model, one shared to a great degree by both Facebook and Google has seen its first failure. Many more are yet to come.
And, last but not least, Microsoft and Apple are positioning themselves as the “good guys” and siding with governments and the News production organizations, partly, in order to be seen in a more positive light in case various anti-trust and regularity battles loom between either of them and the governments that are, currently, also investigating all of the giants.
By the way, seen any of Amazon’s recent “we are good guys, despite what you might have heard, seen or experienced” commercials? Small tip: if you have to spend millions on commercials trying to convince people you are not an evil greed-obsessed avaricious crap-ass company then you probably are exactly that.
The horses are out of the barn so grab your popcorn and get ready for this to get strange soon. After Europe Canada and then the US is coming into the ring.
Clearly there is something going on here and it seems blazingly obvious to everyone except those gathered to partake. The Conservative Political Action Conference (CPAC) of 2021 began in Orlando, Florida on Friday. And nearly straight away this thing grabbed the show by the horns (above).
Or at least the Twitter reaction and meme factory was impressed. For all the wrong reasons. The four years of the “former guy” were hard to live through for sane people. But it is becoming more and more apparent that those that reveled in those times were not just angry political weirdos but, possibly, certifiable.
First was the warning from the Chief of the Capitol Police that pro-former-guy and right wing militia members were plotting to set bombs, literally, off at the Capitol to coincide with Biden’s upcoming State of the Union Address.
“We know that members of the militia groups that were present on January 6th have stated their desires that they want to blow up the Capitol and kill as many members as possible with a direct nexus to the State of the Union.”
Capitol Police Chief Yogananda Pittman
Now, as the always bizarre anyway CPAC conference convenes they decide to set up a Gold-calf worship statue and parade it around for the faithful.
That "golden calf" statue of Trump at the Conservative Political Action Conference in Orlando, Florida? pic.twitter.com/unwbEPUxwv
— Mr. Naturalism (The Antichrist Unicorn) (@MNaturalism) February 26, 2021
Another seems to think BigBoy Burgers had something to do with the statue’s origin:
OMFG whoever built this golden calf of Trump *must* have known about Bob's Big Boy. COME ON.
The only thing missing is the burger, probably because Trump already ate it with a large fry and washed it down with a Diet Coke. pic.twitter.com/UP6vR8ylVL
At least they had some modicum of civility, truth, and intelligence back then. Wish we had someone like Ike back at the helm instead of Trump aka "the golden calf"… pic.twitter.com/nUhrlLt80r
Laying out the evidence, built up over months and leading to Jan. 6th, makes a compelling case, for anyone not considered a clown
Click here to see “Tower of Lies“ to help Independent Bookstores. Also available on Amazon.
All throughout the so-called “presidency” of DJT bizarre double standards were used, exploited and reinforced by him and his minions. If he made an outrageous, even criminal statement, either on Twitter, or in a publicly available video recording, and outrage or any kind of pushback arose, the go-to explanation was “he was obviously joking”.
No matter if the gaffe was suggesting people inject bleach to combat the corona virus, or when he suggested that the U.S. buy Greenland, there was always a built in escape hatch: he didn’t really mean it, and you are a political hack, or worse, for suggesting that he did.
And, even more ridiculous, if you were a member of the press or a democrat, there were many who would seriously posit that he should not, or could not, be held accountable because he is obviously an idiot or a clown or a criminal mastermind and stable genius that would, therefore, get away with it anyway.
From an interview by NPR titled “What Might Accountability For President Trump Look Like?” with IAN BASSIN, executive director of Protect Democracy:
“But when you look internationally and you look at history, what you find is that the risks of not acting are actually worse. What happens is that abusers return to power often and engage in even more abusive behavior. To put this in terms I think we all could understand, as every parent knows, if a child takes a cookie from the cookie jar when he’s not supposed to, and you just move on, not only will he do it again, but next time, so will his brother and sister.”
Added together with propaganda techniques cribbed from Russia (and others) such as “Whataboutism” and an even more primitive derivative of the idea which comes straight from the playground-bully school: “I know you are, but what am I?”.
”Whataboutism has been common in Putin’s Russia. The Atlantic cited one such example in 2014, noting that when the Kremlin faced criticisms of its treatment of protesters, government officials responded, “What about the United Kingdom? Breaking the law during public gatherings there could lead to a fine of 5,800 pounds sterling there or even prison.”
And then there are the famous Nazi Propaganda Minister Joseph Goebbels’ well known axioms: “Accuse your enemy of that which you are guilty” and the “Big Lie” theory:
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
One valid reason for this unique out-of-office Impeachment proceeding is exposing the limits for the “Buffoon Defense”
This stroll down memory lane brings us to the current Senate Trial that will lead to a vote to convict Trump and, since he can no longer be removed, to bar him from ever again running for, or holding, public office.
When the evidence is laid out, as if Trump were an actual president and serious person, which is happening, beginning today on live TV, the effect is shock, not that these things happened, but that the gulf between his actions, and the consequences any other person would receive as a result, ever became so incredibly huge.
This was the drift of the impeachment managers presentation; lay out facts, using words, charts, graphs and even video evidence. Facts that, under any other circumstance, and with regard to any other politician, or any other defendant, would yield a 99.9999% likelihood of grave and serious consequences.
Yet in this bizarre case it is being seen and understood as serious and real by, perhaps, the majority, and at the same time is seen as meaningless or worse, some kind of left-wing conspiracy, by the rest.
What does the success of such obvious propaganda and mind control say about our society and situation going forward?
Even among the most discerning witnesses of the last four plus years it remains hard to determine just how much of the propaganda was planned, orchestrated and understood by the perpetrators with Trump as a figurehead.
Or if it was all a big, insane coincidence, that an actual buffoon could be just smart enough to use the “idiot-card” with such success.
If there is a book being written on Trump’s true legacy or on the mysteries that he left behind, this core mystery, how much his actual stupidity was a key benefit to getting away with so much crime, so much destruction, and, in the end, depending on the outcome, even murder, should be the central premise.
And this trial, with the articulated goal of accountability for real and very serious crimes, must have as a secondary aim, to expose and deconstruct the lies and the methods of avoiding accountability for all the damage and destruction over the entire tenure of the administration.
It remains to be seen if the ability to use the Buffoon Defense will extend to Sedition and Murder, if so, the larger story will ultimately be the insanity of acquitting a man so obviously deserving of finally being made to face consequences, and that will be rightly seen as the larger crime.
On a crazy night Zuckerberg, KimDotCom and Guy Kawasaki all join rooms at the same time
Clubhouse, the red hot “social audio” app which is growing, even by invitation only by the millions per week. Part of the appeal is the up-close and personal audio interactions that happen among people from all walks of life; including big names. Last week it was Elon Musk “interviewing” the CEO of Robinhood (see video below).
KimDotCom is a bit of a crazy one, could be perhaps called infamous rather than famous, as the founder of “MegaUpload” and the New Zealand Extradition saga. There’s a strange kind of irony to having Mark Zuckerberg show up. Obviously it shows how Clubhouse is just too hot to ignore – it will probably spur rumors that he is circling the rooms with designs on acquiring or copying the app.
We have been testing Clubhouse for a future feature article and it is truly remarkable what the atmosphere is while using the app. The intimacy of group audio, combined with a kind of democratic algorithm / interface (for the most part), makes for a social media experience that is nothing like any other platform that has caught on.
In some ways it’s like being at a huge trade show like CES and going to a keynote or a panel discussion. However, the fact that it is live 24/7 365 days a year makes for more impromptu access, more spontaneity and more… chaos (sometimes for good or…).
I’m tryna see Mark Zuckerberg and Tim Cook in the same Clubhouse room
Clubhouse was launched, in what may be the most fantastically serendipitous timing ever, in March 2020. Tearing a page, ironically, from the Zuckerberg and Facebook playbook, it has been and continues to be an invitation only club.
After the session with Zuckerberg was over one of the “Stage” speakers coined the term “Digital Teepee” to describe the feeling of being in such an intimate setting with such a controversial figure like Mark Zuckerberg. Others speculated what his motivations might have been to join the club.
Here’s what Mark Zuckerberg said on Clubhouse about AR, VR, and Remote Work
In a nod to the “Trade-show” aspect the first affinity group was… Venture Capitalists
In an interesting twist, however, the initial focus for invites was not on college students, as was the case with the early days of facebook, but mainly consisted of venture capitalists.
Perhaps this was indirectly related to the fact that , Alpha Exploration Co., the company behind Clubhouse was launched after a $12 million investment came from Andreessen Horowitz after they had only been in existence for approximately two months.
The invitations are being handed out more liberally now and the “club” is growing at over a million users per week at the moment. The demand is so extreme, however, that invites are even being sold on eBay in the US and even on equivalent platforms in China and elsewhere.
In a first, in what will almost surely crash the app again, Netflix will be doing a promotional room (which has never happened before) to promote Zendaya’s new film‘Malcolm & Marie’ which will be live on Netflix tomorrow.
