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

PHOTOS: Police investigate at Surrey townhouse complex

Officers were in the 19000-block of 64 Avenue Thursday evening

Wind warning for White Rock, South Surrey

Gusts up to 90 km/h expected from Richmond to Langley Friday (Sept. 25) morning

Surrey-born Trybe social media app’s award system connects with Nickelback singer

‘It’s turned into so much more than we originally conceived,’ says co-founder of the new platform

Drifting sailboat runs aground on White Rock beach

Vessel dragged anchor in high wind, no environmental damage sustained

Peace Portal Seniors Village staff member tests positive for COVID-19

Staff member currently in isolation at home, enhanced control measures in place

B.C.’s top doctor thanks supporters after revealing threats over COVID-19 measures

Dr. Bonnie Henry says COVID-19 has caused some people to lash out in anger and frustration out of fear

NDP, Greens divided on pace of child care improvements in B.C. election campaign

NDP Leader John Horgan recommitted to $10-a-day child care and blamed the Greens for not supporting his efforts

BC Liberal Leader talks drug addiction in the Lower Mainland

Drug addiction and public safety a top priority says Andrew Wilkinson

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

Pandemic derails CP Holiday Train

Canadian Pacific will work to get donations to food banks while also producing an online music concert

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Vanderhoof’s Brian Frenkel takes on top job in tough times

We can get through this, new local government leader says

Abbotsford veteran survives cancer scare, celebrates 95th birthday

Second World War veteran Andy Anderson receives socially distanced birthday party after health scare

Mounties cleared by watchdog in fatal shooting of man with schizophrenia in Maple Ridge

Kyaw Din was killed by the RCMP during a mental health incident in August 2019

Most Read