STIRLING: So if your pension fund is forced to operate on false premises...

Is your pension at risk from politically skewed guidance issued to your fund manager by climate change activists, with the knowledge and connivance of the Trudeau Liberals? Perhaps. You be the judge.Canada’s Office of the Superintendent of Financial Institutions (OSFI) has the job of “fostering sound risk management and governance practices,” among Canada's financial institutions. It reports to Parliament through the Minister of Finance.In line with its mandate, the “OSFI advances a regulatory framework designed to control and manage risk.”Well, somebody needs to.But, who is advising the OSFI? And what then should we think of the OSFI imposing a mandatory speculative practise of estimating climate-risk based on an implausible climate scenario, on the more than 400 federally regulated financial institutions? (FRFIs) Take note, OSFI also supervises pension funds. It is therefore of concern that environmental non-governmental groups (ENGOs) such as Shift Pensions (a TIDES/MakeWay offshoot,) Environmental Defence and Ecojustice have been whittling away at the OSFI to push them into climate activism and thus to shift pension funds into the limp clean-tech investment sector.Despite billions in subsidies, that sector has sat at 3% of GDP since 2007.Yet, the OSFI has mandated that the federally regulated financial institutions it supervises must participate in a Standardized Climate Scenario Exercise (SCSE) methodology. The exercise was open for consultation up to December 22, 2023.Simply put, OSFI wants a standard method for financial institutions to evaluate the climate risk of companies, decades out into the future. And they are to do this, not by relying on historical evidence, but by reliance upon complex mathematical models that they have created for this purpose.The OSFI has thus launched a 'Titanic' of climate misinformation with this demand for mandatory speculation on predicting global climate risk.Imagine the iceberg of climate reality this exercise will encounter, fraught with future legal implications.Imagine also what this could cost you, the pensioner.These people need to read Prof. Mike Hulme’s book Climate Change Isn’t Everything wherein he warns against the totalitarian outcome of such a ‘climatism’ mentality.The scenarios upon which OSFI relies are known as 'Representative Concentration Pathways.' The term refers to a scientific concept used to quantify and compare the different warming impacts of more or less fossil fuel use, land use, and population which would change Earth’s energy balance.But, according to those who designed the scenarios, these RCPs are not predictive, and are not to be used to guide policy.But that's the implausible scenario the OSFI has chosen as a ‘business-as-usual’ model. It is known as RCP 8.5.Energy economist Robert Lyman has written a report in plain language trying to explain the travesty of the misuse of the implausible RCP 8.5. He concludes without RCP 8.5, there is no case for high carbon taxes or net-zero targets. How so, you ask?RCP 8.5 includes three to six billion more people on the planet by 2100 than even the United Nations forecast of nine billion! RCP 8.5 also entails the burning of more coal than probably exists.Plus, it would require that oil companies find and produce roughly four trillion barrels of crude oil between now and 2100, about twice the level of proven crude oil reserves now plus the current estimate of technically recoverable resource potential.Doesn’t sound like ‘business-as-usual’ does it? But the OSFI says that’s what it is.Likewise, the OSFI’s preferred ‘target’ scenario for reaching NetZero and keeping global temperatures below the political (not scientific) goal of 1.5 degrees Celsius (over pre-industrial global mean temperatures) is the low-end, also implausible, RCP 2.6, a scenario that requires draconian and immediate action to stop using most fossil fuels.In fact, climate policy analyst Roger Pielke, Jr., says the UNFCCC reported that, in terms of emissions, the world is below SSP-RCP 4.5 at present. No climate emergency folks. We do have time.In a stunning lack of due diligence, OSFI did no assessment as to whether or not net-zero goals are attainable. And, they are not. There is no materials supply chain, as shown by Simon Michaux who simply ‘did the math.’This muddled thinking on RCP scenarios may explain the totalitarian approach that most Western governments, particularly the Canadian government, are taking on climate action.Ostensibly, the OSFI was established to prevent this kind of fraud and market manipulation based on mythical models; instead they are actively promoting mandatory speculation.For the Greta’s of the world, using RCP 8.5 justifies their existential fears. For climate radicals such as Minister Steven Guilbeault, it justifies the crushing carbon taxes, the restriction of agricultural fertilizer and mandating EVs.For those concerned with the depopulationist angle of the climate cult, RCP8.5 provides justification (though false) for getting rid of people to save the planet.The kicker in all this? OSFI testified to the Canadian Senate on December 6, 2023, that “…OSFI does not have an explicit mandate to advance climate change objectives.” So, is it the foreign-funded ENGOs that are influencing banking policy in Canada?Michelle Stirling is the Communications Manager for Friends of Science Society. Read Friends of Science Society’s new report “Collapse and Catastrophe.”.Due to a high level of spam content being posted in our comment section below, all comments undergo manual approval by a staff member during regular business hours (Monday - Friday). Your patience is appreciated.