MEDIAWATCH: AMI new TV insurance advert a marvel of climate change propaganda

Home owners face up to $400 a year insurance hike as Treasury consults on Natural Hazards Insurance Levy for disasters amid funding shortfall

Home owners could be asked to fork out up to about $400 more a year to prop up the country’s state disaster insurer.

The latest AMI insurance TV advert is an hilarious abomination…

…as they increase their insurance rates because of catastrophic climate change, the insurance companies (part of the very capitalism that causing the climate change that AMI use in their insurance advert) are now just shrugging to you without mentioning their role in the Capitalism that is causing the climate change.

In the words of Professor Wayne Hope from his new incredible book, The Anthropocene, Global Capitalism and Global Futures…

The corporate ambit of emissions culpability also includes transnational finance capital. In October 2019, journalist Patrick Greenfield drew from the think tank Influence Map and business data specialists Proxy Insight to examine the investment holdings of BlackRock, Vanguard and State Street. Their combined portfolios presided over US$286.7 billion of oil, coal and gas company shares administered through 1 712 funds. These figures excluded direst and non-listed fund holdings. Such investments were, and are, used to manage major funds involving pensions, university endowments and insurance companies. These figures reiterate the general principle of corporate culpability for carbon emissions and point to the contribution of global finance. Further to this matter, Bank of England Governor Mark Carney surmised that multi trillion-dollar world capital markets were financing projects and activities likely to raise average global temperatures 4% more than pre-industrialised levels.

As global networks of fossil fuel extraction, refining, industrial use and related financial investment produce carbon emissions, wealthy elites dominate carbon consumption. Explaining the process first requires a short excuses on wealth distribution, luxury consumer culture and class. Clearly, global wealth growth benefits super-rich individuals from the TCC. The richest 1% of the world’s population took 38% of all additional wealth between 1995 and 2021. Just 2% went to the bottom 50% of humankind. For the same period, billionaires’ share of total global wealth grew from 1 to 3%. Tim Di Muzio, writing in 2015, depicted such differentials as a global plutonomy whereby economic growth powered and consumed mostly by the wealthy few, excluded the vast majority. With huge money surplus to spend on precious metals, property portfolios, home residences, retreats, first-class travel, cars, yachts, jets, exclusive cultural pursuits and leisure activities, the rich and super rich demarcate social prestige among themselves. Individuals, families and groups strive to symbolically out-consume their class peers, while the upper-middle classes aspire to emulate their superiors. The entire set-up, led by the dominant owners of capital, is ecologically unsustainable.    

Increasingly having independent opinion in a mainstream media environment which mostly echo one another has become more important than ever, so if you value having an independent voice – please donate here.