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

Surrey bylaw’s tactics with Uber drivers deemed ‘entrapment’ and ‘completely wrong’

That’s what Councillors Brenda Locke and Linda Annis had to say Monday about city staff hailing Uber drivers then issuing them warnings

Whistleblower says Iranian-Americans questioned at Peace Arch crossing were targeted

Immigration lawyer says response from Customs Border Protection is a ‘total cover up’

COLUMN: Ontario ride-hailing experience has implications for Surrey

Ride-hailing is now operating in B.C., in a lightning-quick response to the… Continue reading

‘Our Surrey Vision’ report to be made public Thursday

Community-engagement project launched by Downtown Surrey Business Improvement Association last year

Indecent act reported in North Delta

Police received a report of a man touching himself in the park next to the Mackie library on Jan. 23

VIDEO: Canada’s first presumptive case of coronavirus officially confirmed

Both patient and wife arrived on a China Southern Airlines flight after having been to Wuhan

First-place Canucks beat Blues 3-1 for ninth straight home win

Miller nets pair as Vancouver defeats Cup champs

Swapping grape varieties can help winemakers adapt to climate change: UBC study

Report says 56% of wine-grape-growing regions would be lost if global climate warms by 2 C

Alberta premier wants feds to approve Teck mine for benefit of First Nations

Kenney: ‘Surely [reconciliation] means saying yes to economic development for First Nations people’

Police search for man who went missing from Vernon hotel

Jay Rosenberger, 38, was last seen Friday

NDP suggests easing secondary housing rules for B.C. farmland

Lana Popham proposes guest homes not just for relatives

After four sex assaults linked, RCMP ask women not to walk alone in Coquitlam park

Four sexual assaults took place in Glen Park over two months

BC Place lights up in purple and yellow to honour Kobe Bryant

Kobe Bryant, his 13-year-old daughter and seven others were killed in a helicopter crash

Most Read