Mitigation Outcome Interests
They always play their silly games. Because you’re not allowed to know what they’re up to. Consequently, should they seek to enable carbon credit trading through technology, intimately coupled with CBDCs, you can count on their terminology differing.
Yes, of course the Bank for International Settlements is to be found, once you recognise the terminology. Instead of ‘carbon credits’, they simply renamed them ‘migration outcome interests’, and et voila. But there are a few other things in this report which stand out, so let’s dive in -
‘Two new projects were introduced in 2023. Project Pyxtrial aims to enable the systemic monitoring of the asset backing of stablecoins. It will investigate various technological tools that may help supervisors and regulators to build policy frameworks based on integrated data‘
This so obviously points to some GEOSS derivative. Global surveillance. One of their most recent initiatives is GBIOS, which couples the Convention on Biological Diversity with ‘indicators’ courtesy of the Global Biodiversity Framework Aichi targets, supplied through data courtesy of the GEO BON derivative, GBIOS.
And that includes live satellite feeds as well, for the record, and no - I’m not kidding.
Back to the BIS -
‘Following the completion of a proof of concept on the tokenisation of retail green bonds (Genesis 1.0), in October 2022 Project Genesis 2.0 successfully developed two different prototype distributed ledgers upon which tokenised green bonds and certain types of carbon credits can be traded by retail investors.’
And why I so confidently state that it’s global surveillance is because -
’The prototype includes functions to track, deliver and transfer digitised carbon forwards (also known as mitigation outcome interests (MOIs))‘
Incidentally, it’s not the only release out of the BIS indicating where we’re heading. Here’s another, from October, 2022.
‘…the BIS Innovation Hub has collaborated with the Hong Kong Monetary Authority and the UN Climate Change Global Innovation Hub. Project Genesis 2.0 explored the use of blockchain, smart contracts, and internet-of-things (IoT), and achieved two prototypes that aim to tackle the greenwashing concern of the green bond market, and transform the carbon market from an ex post reward to an ex ante enabler for green projects.‘
IoT sensors are commonly used for surveillance. Say, you could use them to measure carbon dioxide emissions from a coal plant chimney, and then attach this measure to bonds sold to raise capital. Now, with those emissions monitored, should these breech some arbitrary number, calculated by a dart-throwing nerdy 30-something who wasted his youth playing Civilization, then that coal plant will have to offset, which in short means buying the right to pollute from some other party, with an usurious middle-man taking a cut on all transactions.
All of this is a scam. In fact, the central banks themselves have indirectly stated as much -
‘…Project Genesis 2.0 combines the green bond market and the carbon market by proposing a new green bond structure appended with mitigation outcome interests (MOIs), which are future contracts with a commitment to deliver, at maturity, verified carbon credits compliant with the Paris Agreement. The technology solutions digitally track, in real time, mitigation outcome data linked to the green bond’s lifecycle, providing investors transparency on the climate impact of the investment. The prototypes also achieved digital delivery and transfer of MOIs enabled by smart contracts‘
It’s just so obvious what’s coming, but of course they will lie about it… though I do look forward to the mental gymnastics considering what follows -
‘Project Genesis 2.0 demonstrated the benefits of integrating the green bond and carbon markets, as well as the possibility brought about by technology to enhance the transparency and environmental integrity of the green bond market. We hope that the possibility and learnings demonstrated in Project Genesis 2.0 will catalyse innovations in the green finance market, leading to developments that shift mainstream finance towards meaningful and impactful climate solutions.‘
Mainstream finance. That’d be you. Give it time.
No, really - it’s you. This is via the iOS app of NatWest’s; which is a major UK bank -
The executive summary continues -
‘As an extension to Project Genesis 1.0’s successful proof-of-concept on the tokenisation of retail green bonds using both a public blockchain and a permissioned blockchain, Project Genesis 2.0 sought to address issues of greenwashing and additionality of green bonds, thereby enhancing the transparency, objectivity, and environmental integrity of the green bond market. In this project, a new structure of green bond is explored to ensure that green bonds serve the 1.5°C climate goal. In this new structure, a green bond is appended with MOIs, which are de facto verified carbon credits recognised by either international, national, or other recognised verification mechanisms in line with the Paris Agreement. In addition, the integration of the green bond market and carbon market transforms the carbon market from an ex post reward to an ex ante enabler for green projects‘
All of this is about hitting that arbitrary, exaggerated, and utterly pseudoscientific number of 1.5 degrees. The alleged temperatures didn’t even start to increase until after the ‘consensus’ was reached at an invite-only event, arranged by your favourite technocrats - ICSU. How much more obvious can it get.
Now, I partially covered the next document in a the recent article on central banks, but let me cover it again here. There’s a very good reason why I choose to do so..
The document in short outlines all the fantasy biodiversity accounting, where they attempt to approximate infinities, through terms like ‘ecosystem services’, and ‘natural capital’. I won’t define these again, as I have repeatedly outready; all you need to know is that it’s fraud, it really is that simple. It’s guesswork, compound guesswork, with compound guesswork stacked on top.
Only yesterday, we saw a document from 1990 essentially stating much the same, penned at a time where all of this fraudulent accounting was at the concept stage.
… and yes, it’s about biodiversity, carbon taxation, ESG criteria, carbon footprints, and climate-related risks. All of that is covered in the link above. However, what I didn’t do, was to go through the abstract -
‘Climate change poses new challenges to central banks, regulators and supervisors. This book reviews ways of addressing these new risks within central banks’ financial stability mandate.’
So far, so good. Of course, you may ask why climate change has anything to do with monetary policy, but Thierry Breton will probably shut you down for posting misinformation, should you even bother to ask.
’ However, integrating climate-related risk analysis into financial stability monitoring is particularly challenging because of the radical uncertainty associated with a physical, social and economic phenomenon that is constantly changing and involves complex dynamics and chain reactions.’
It’s fairly revealing, really. What they say is that the entire new financial ecosystem they’ve conjured up from thin air is absolutely worthless in its primary objective. It’s absolutely impossible to calculate even the simplest ‘ecosystem service’ valuation, because it’s infinitely complex. It’s complete hogwash.
’Traditional backward-looking risk assessments and existing climate-economic models cannot anticipate accurately enough the form that climate-related risks will take. These include what we call “green swan” risks: potentially extremely financially disruptive events that could be behind the next systemic financial crisis.’
It’s pretty simple. A business can’t pay, and goes bankrupt. The owner of the bond will not receive payment, and may have to write off the value of the entire bond. It really isn’t rocket science, but this is the precise scenation they seek to prevent, though of course, with significantly more… significant actors involved.
’Central banks have a role to play in avoiding such an outcome, including by seeking to improve their understanding of climate related risks through the development of forward-looking scenario-based analysis.’
What this means is that should said catastrophic event take place, then they’ll suspend the system, and keep on trading with fantasy figures. It’s fraud, and designed to protect only the likes of Goldman Sachs and JP Morgan, because you will be offered no similar protection. You will be allowed to default - and probably as it’s more profitable for them to take your house.
It will enable risk taking that the world has never experienced before, because it’s hardly as though they will ever allow JPM or GS to face the music, should their investments fail. Too big to fail, no?
’But central banks alone cannot mitigate climate change. This complex collective action problem requires coordinating actions among many players including governments, the private sector, civil society and the international community.‘
Again - NOT THEIR JOB. Their actual mandate is setting monetary policy, and that’s it. Who the hell gave them these additional responsibilies?
‘Central banks can therefore have an additional role to play in helping coordinate the measures to fight climate change. Those include climate mitigation policies such as carbon pricing, the integration of sustainability into financial practices and accounting frameworks, the search for appropriate policy mixes, and the development of new financial mechanisms at the international level.’
Which, loosely, means they’ll seek to write policy as well on all things related to this random number generator of a financial system they’ve created.
’All these actions will be complex to coordinate and could have significant redistributive consequences that should be adequately handled, yet they are essential to preserve long-term financial (and price) stability in the age of climate change‘
Yeah, and it might in fact increase inequality. It almost certainly will.
The signs are everywhere. And Carbon Coded states it outright -
‘As we stand at the crossroads of financial evolution and environmental urgency, Carbon Coded represents a promising opportunity — the creation of Central / Commercial Bank Digital Currencies (CBDCs) backed by Carbon Credits and Environmental, Social, and Governance (ESG) assets. This blend aims to achieve a dual-purpose: to scale climate action by directly linking financial systems to positive environmental impacts while also offering a next-gen stable digital fiscal instrument to a diverse set of stakeholders.‘
It could not possibly be more clear.