Bank of England Mark Carney to Head a UN Climate Action Effort

0
84

by Eric Worrall, Watts Up With That:

Mark Carney, Governor Bank of England. By World Economic Forum from Cologny, Switzerland – The Global Economic Outlook: Mark J. CarneyUploaded by JanuaryCC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=24234760

Guest essay by Eric Worrall

Climate Activist and Bank of England Governor Mark Carney is taking on a new role as UN’s new Special Envoy for Climate Action.

Mark Carney to be new Special Envoy for Climate Action 

The Secretary-General announced on Sunday that the current head of the Bank of England, Mark Carney, is to become the UN’s new Special Envoy for Climate Action.

Describing the Canadian as “a remarkable pioneer in pushing the financial sector to act on climate”, Mr. Guterres said the new envoy would be focusing on ambitious implementation of action, especially shifting markets and mobilizing private finance, towards limiting global warming to the key 1.5 degrees mark. Mr. Carney replaces former New York mayor and billionaire philanthropist, Michael Bloomberg, who has embarked on a US presidential run.

A statement from the Spokespersons’ office said his tasks would include “building the frameworks for financial reporting, risk management and returns in order to bring the impacts of climate change to the mainstream of private financial decision making and to support the transition to a net zero carbon economy.”

The Bank of England Governor has held numerous positions in finance in both the private and public sectors and will become a member of UN staff at the point at which he ceases to work for the Bank.  He also served, from 2011 to 2018, as Chair of the Financial Stability Board and Governor of the Bank of Canada from 2008-2013.

“The Secretary-General will count on Mark Carney to galvanise climate action and transform climate finance”, as the UN looks to next year’s 26th Conference of the Parties (COP26), due to take place in Glasgow, Scotland.

Read more: https://news.un.org/en/story/2019/12/1052491

Canadian born Mark Carney was a key figure in forging a strong British cross party consensus on climate action.

Perhaps the UN Secretary General is hoping Carney will be able to replicate the magic he worked in Britain on a global scale.

Read More @ WattsUpWithThat.com

Loading...