from Zero Hedge
Back in June we explained why contrary to the virtue-signaling intentions of its ideological proponents, the fraud that is ESG would likely trigger energy hyperinflation, destroying any hopes for perpetuating the “green” lie once billions of consumers realize it will cost them an arm and a kidney. And one place where this reality is already manifesting itself, is Europe where nat gas and electricity prices have hit new record high virtually every day in recent weeks, sparking angry protests as furious citizens refuse to pay their electric bills.
So while one would think that Europe – the epicenter of the current energy hyperinflation phase – has learned its lesson and would ease back on central planning when it comes to energy policies to avoid even higher prices, one would be wrong because this morning instead of focusing on its sole mandate (and what it does worst) namely keeping inflation and unemployment stable, the ECB has decided to add yet one more mandate to its ever growing list of things its career economists needs to fix, and according to Bloomberg, the central bank “will look at the trading operations of major lenders as part of climate stress tests next year, after judging that an assessment of loan books alone won’t give enough insight into the fallout they face from global warming.”