The Bank of England is enslaved by groupthink

I do find it odd that I’m so often having to write about the science of global warming, species extinction and ocean acidification because, though I’ve certainly acquired a pretty useful base knowledge over the years — superior, I’m guessing, to 97 per cent of scientists — it’s really not my main interest. What fascinates me far more is the way the faddish preoccupations of a few green cultists have somehow come to dominate our entire culture, corrupting the intellectual current, suborning institutions, crushing dissent — much as Marxist, fascist and Nazi ideologies did in the 20th century, only with rather more widespread success.

Let me give you a recent example of this: an article from the June Quarterly Bulletin of the Bank of England, titled ‘The Bank’s response to climate change’. Nothing wrong with the premise: it is indeed part of the Bank’s statutory duty to ‘identify, monitor and take action to remove or reduce risks that threaten the resilience of the UK financial system’.