Mark Carney the Governor of the Bank of England listens to a journalist’s question during a Financial Stability Report press conference at the Bank of England in the City of London, Thursday, July 11, 2019. THE CANADIAN PRESS/AP-POOL, Matt Dunham

Mark Carney the Governor of the Bank of England listens to a journalist’s question during a Financial Stability Report press conference at the Bank of England in the City of London, Thursday, July 11, 2019. THE CANADIAN PRESS/AP-POOL, Matt Dunham

Former Bank of Canada governor to serve as UN special envoy on ‘climate action’

Carney drew international recognition during the five years at the helm of the Bank of Canada

Bank of England governor Mark Carney, who previously served as Canada’s top central banker, will be taking on a new role as the United Nations’ special envoy on climate action and climate finance.

U.N. Secretary-General Antonio Guterres made the announcement while speaking to reporters in Madrid on Sunday, adding the move will take effect next year.

Carney was due to step down as bank governor early next year, having already extended what was meant to be a five-year term.

During his tenure, the former investment banker played a key role in trying to manage the British economy as the country prepares to leave the European Union.

Carney drew international recognition during the five years at the helm of the Bank of Canada, and at one point was named on Time magazine’s “most influential” list.

He took over the job at the beginning of 2008 amid the first signs of the financial crisis, and has been widely credited for helping Canada weather the recession by keeping interest rates low.

In 2011, he was also appointed to oversee global financial reforms as head of the Financial Stability Board.

He has been speaking for years on the implications of climate change initiatives for the financial sector in the world, and emphasized the importance of ensuring that the financial system is resilient so that it can adjust and finance the transition to a low-carbon economy efficiently.

Carney, who hails from the Northwest Territories, has an undergraduate degree in economics from Harvard University and both a master’s and doctorate in economics from Oxford University.

He spent more than a decade with Goldman Sachs in London, Tokyo, New York and Toronto before joining the Bank of Canada in 2003 as deputy governor.

ALSO READ: Today’s babies won’t know life without climate change, new report warns

– with files from The Associated Press

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

COVID-19. (Image courtesy CDC)
Interior Health reports 70 new cases overnight

The total number of cases in the region is now at 1,426

The plans for the the FFHS's latest project. (Image contributed)
Construction well underway on FFHS’s latest project

Contributed by Gayle Vallance President, FFHS Since 2000 the Fernie Family Housing… Continue reading

The Elk Valley Hospital is adapting to meet the needs of patients in the Elk Valley.
MSA Update: Elk Valley fortunate in recruiting

President of the MSA Dr Chalmers-Nixon said new hires were closing gaps in the valley’s medical services

The Holy Family Catholic Church. (Photo Contributed)
Italian bake sale fundraises for the Holy Family Church

The Fernie Catholic Women’s League is running the tasty sale from Dec. 2 until Dec. 19

Masks are now officially mandatory in all City of Campbell River facilities. (Black Press File Photo)
Interior Health reports 49 new COVID-19 cases overnight

302 cases remain active; two in hospital

A man wearing a face mask to help curb the spread of COVID-19 walks in downtown Vancouver, B.C., Sunday, Nov. 22, 2020. The use of masks is mandatory in indoor public and retail spaces in the province. THE CANADIAN PRESS/Darryl Dyck
B.C. records deadliest day of pandemic with 13 deaths, 738 new COVID-19 cases

Number of people in hospital is nearing 300, while total cases near 30,000

(File photo)
Alberta woman charged after allegedly hitting boy with watermelon at Okanagan campsite

Police say a disagreement among friends at an Adams Lake campsite turned ugly

Court of Appeal for British Columbia in Vancouver. (File photo: Tom Zytaruk)
B.C. woman loses appeal to have second child by using late husband’s sperm

Assisted Human Reproduction Act prohibits the removal of human reproductive material from a donor without consent

Krista Macinnis displays the homework assignment that her Grade 6 daughter received on Tuesday. (Submitted photo)
B.C. mom angry that students asked to list positive stories about residential schools

Daughter’s Grade 6 class asked to write down 5 positive stories or facts

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

B.C. projects targeting the restoration of sockeye salmon stocks in the Fraser and Columbia Watersheds will share in $10.9 million of federal funding to protect species at risk. (Kenny Regan photo)
13 projects protecting B.C. aquatic species at risk receive $11 million in federal funding

Salmon and marine mammals expected to benefit from ecosystem-based approach

Barrels pictured outside Oliver winery, Quinta Ferreira, in May. (Phil McLachlan - Black Press Media)
B.C. Master of Wine reflects on industry’s teetering economic state

Pandemic, for some wine makers, has been a blessing in disguise. For others, not so much.

An employee of the Adventure Hotel was taken to hospital on Nov. 20 after she confronted a customer of Empire Coffee about not wearing a mask. File photo.
Nelson hotel employee suffers heart attack after being assaulted in anti-mask incident

An accountant at the Adventure Hotel is in hospital in Kelowna

Most Read