This is woke

With ANZ trying to show its green credentials with a new policy that adopts climate change as a condition of lending, targeting “high emitting” customers across agriculture, food and beverage, energy, transport and building sectors. This is for a bank that has been found guilty of unconscionable conduct in a notice published today on order of the Federal Court of Australia. Ethical people should have nothing to do with ANZ, I look forward to observing the demise of ANZ and hope the shareholders and management understand finally that a bank has a pretty simple job to do: collect deposits and make loans – and not pretend to be woke.

 

About Lucius Quinctius Cincinnatus

I'm a retired general who occasionally gets called back to save the republic before returning to my plough.
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21 Responses to This is woke

  1. Entropy

    The requirements to pass muster advantages corporations over the little guy.
    Every business needs a bunch of paper shufflers to meet the ever escalating demands of new regulation and paperwork, plans fir this and plans for that. Small business, and that includes family farms, can’t do it.
    This endlessly expanding corporatism is all aimed at creating Elysium for our political class, and to enable the grinding of its boot on the face of the underclass, endlessly.

  2. Bruce of Newcastle

    Especially irksome when there’s been very little global warming this century so far. Certainly nothing like the models project.

    We’ve seen this increasingly where the political left uses the patina of science to supposedly justify what they want to do. Even when the science says no such thing. A compliant media refuses to take them to task and pillories anyone who objects. The lockdowns are another example. Masks are a third example, despite data suggesting they’re useless. Trying to filter out a 0.1 micrometre sized particle with a 2.5 micrometre pore size is like trying to stop mosquitos with chicken wire.

    The same goes for global warming. None of the harsh actions pushed by the progressive left would be justified even if it was occurring. But the progressives want it for ideological reasons, so they monster everyone until they get their way. ANZ is just the latest terrified company.

  3. RobK

    When all the regulatory imposts are not enough… we get the law of the bankers.
    Look out!

  4. Mak Siccar

    Couldn’t agree more LQC.

  5. wal1957

    Most people I know are sick of this woke BS.
    Until these woke policies start affecting peoples hip pockets the vast majority could care less. They don’t realise how pervasive and costly this is going to be in the long term.

  6. Rob

    Disgusting virtue seeking from bloated executives full of self-importance and exercising unmandated powers over Australians who toil mightily within the laws imposed by our governments.
    If enough Australians turn their back on companies like ANZ, other organisations may step up to encourage and support those who work for rather than against the Australian community.

  7. Clinton Dowling

    $10 million is nothing to a bank that size.

    Having their banking license revoked however…

  8. Up The Workers!

    The A.L.P.B.C. is in flagrant breach of its Charter every single day.

    When is Happy Clapper Sco Mo and his Cabinet of Jelly-Backed Performing Eunuchs going to grow a set of rudimentary testicles large enough to equip them with the fortitude to do battle with Old Aunty Ita’s “House of Ill-Repute and Presstitution” and treat them like they do the A.N.Z.?

    How can they be afraid of Old Aunty Ita, but not of the whole A.N.Z. bank, when the law is on their side in both instances?

    Stop mucking about and drain the bloody swamp!

  9. jupes

    Wokeness is just the modern version of socialism. It is evil.

    Yet LQC rejects the only person on earth with the will and enough political power to fight this scourge. People like LQC are the reason this evil flourishes.

  10. Bronson

    Post GFC the ANZ and all Straya banks are guaranteed by the the Straya government funded by the Straya taxpayer. Given that they owe the backing of their business to the Straya taxpayer how do they justify putting constraints on their operations without the approval of their backers? I certainly don’t approve of my taxes going to prop up losing companies like ANZ. If companies like ANZ want to make these ‘go broke’ decisions let them do so on their own cognisance not on public purse.

  11. BrettW

    ANZ boss was on 2GB last night.

    Said it only applied to top 100 companies but also said renewables was the future for investment and what his customers wanted. Woke as. Specifically said would not apply to farmers.

  12. Farmers and small businesses have to deal with enough rubbish without banks wanting to impose woke, climate change red tape on them. The ANZ is announcing today that it will require its customers – including farming customers – to develop climate change “transition plans”. The ANZ says that it would “move away from working with customers that don’t have clear and public transition plans”.
    That’s assuming its customers don’t move away first.
    After all of the unethical behavior of the banks, exposed during the Royal Commission, it takes some front to turn around and then impose ethical requirements on others

  13. pbw

    From the Oz (paywalled, of course):

    Nationals MPs in race to become mainstream deniers RICHARD GLUYAS

    There was a battle royale between Nationals MPs in Canberra on Thursday for the gold medal in stupidity — the most inane contribution to ANZ Bank’s new ­climate policy.

    Clearly, it has escaped these gentlemen that climate change is a critical, mainstream business issue, no longer the province of wild-eyed student radicals and ­activist groups.

    In fact, in many cases, it’s the issue that dominates the conversation between Australian corporations and powerful institutional investors when our chief executives drop into Asia’s fin­ancial centres or London and New York.

    CEOs ignore these investors at their peril. If they can’t present a convincing plan to navigate their companies to carbon neutrality by 2050, in line with the Paris Agreement, they’re kidding themselves — they’re seen as living under a rock that’s slowly warming.

    Etc., etc., etc.

    So how is it that the heights have been seized by this gang? Where’s that breakthrough of the reality-testing market? Where’s the payoff from the long-term impoverishment of most of the world’s population?

  14. old bloke

    Many years ago, Australian governments, Federal and States, used to offer banking and insurance services to the public. These were all privatised over time and are now controlled by woke directors who are more terrified of receiving emails from screaming midgets and other such organisations than returning a profit to their shareholders.

    I can’t see a way to rectify this situation other than for the various governments to get back into the banking and insurance business. For example, the Adani mine can’t go ahead without insurance, and no insurance company will sell them policies. The governments look on and even though they need the employment, taxation income, royalties, etc., there is nothing they can do.

    I’m not in favour with government business entities, but I can’t see any other way forward.

  15. Jock

    I notice Richard Gluyas has an opinion in the OZ absolving the ANZ as everyone is doing it. Despairingly and disappointedly he is abosolutely correct. Business and the Regulators and big Investors have been captured by the Green drive to socialism. It appears we have lost. Even when the lights go out and the Chinese buy the whole place, the MSM will tell us that we are better off because it is cooler. The laugh is on us.

  16. Rob

    If every corporation and business entity put forward its PC, woke, and moral dictates, we could all vote with our patronage, money, and purchases.
    Government and everything that goes with it, including taxes, would be unnecessary ?

  17. Professor Fred Lenin

    Models are like polls ,you feed in crap and get out gold .

  18. Cynic of A

    I note that…
    “The Bank” was found guilty of misconduct.
    “The Bank” was fined 10 really big ones.
    No! This is incorrect.
    The “Employees of the Bank” were found guilty of misconduct.
    The “Depositors and Shareholders of the Bank” were fined.
    None of the people who did the crime paid!
    No one went to jail. No one lost any of their own money. And, AFAIK, no one lost their job.
    The ANZ is a public company. It is run by Directors and Managers. Directors and Managers, by law, are responsible, in pain of fine or jail, to obey the laws of the land.
    Someone tell me, why these people have not been prosecuted.

  19. Russell

    … renewables was the future for investment and what his customers wanted.

    I didn’t hear CEO say this but can believe it. Methinks either this is a blatant untruth or (and more likely) the only customers who respond to their biased surveys are the wokeys who think it is really important to tell companies what they are “feeling”. Let’s ask the right question:
    Is it more important to you that the bank has higher credit limits on your cards, lower interest rates on your loans or only lends commercial money to wokey companies.
    We know how this shonky survey game is played …

  20. John A

    Cynic of A #3637764, posted on October 30, 2020, at 2:45 pm

    The ANZ is a public company. It is run by Directors and Managers. Directors and Managers, by law, are responsible, in pain of fine or jail, to obey the laws of the land.
    Someone tell me, why these people have not been prosecuted.

    ANZ is a separate entity. It’s a legal fiction (and legal fictions are solemn things [The Gondoliers by Gilbert & Sullivan]).

    ANZ will need to decide if it will act to extract those penalties from the perpetrators among its staff and managers. We don’t actually know if the computer programs were badly written or the project team was late with the changes which ceased charging the fees.

    Don’t forget that bank bashing has resulted in a lot of penalties, fees and charges being “declared” illegal and unconscionable – things like dishonour fees with a punitive element, intended to discourage repeat behaviour. We don’t know from this release whether the subject charges were declared “illegal” retrospectively by someone’s legal action, making for an impossible lose-lose situation for the bank.

    But there is no need to link this with the stupidity of wokeness. Let’s tackle wokeness on its own demerits.

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