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

Early-morning phone scam annoying Nakusp residents

Hang up if you get a call, say police

Organic waste pick-up expected by 2022 in RDCK

But there are many unanswered questions in Nelson about cost and details

Nelson and RDCK both eyeing waste wood to produce energy

Nelson’s five-year-old business plan will resurface at council table this summer

Two overdose deaths in Nelson over the weekend

Police warn that much of the current drug supply in the city may be dangerous

Midway mill shutdown expected to last 8 to 10 weeks

Vaagen Fibre Canada cites low inventory, road restrictions as reason for shut down

Blair says RCMP have met Wet’suwet’en conditions, calls for end to blockades

The Wet’suwet’en’s hereditary chiefs oppose the Coastal GasLink project

Exclusive: Pamela Anderson talks plans for waterfront Ladysmith property after 12-day marriage

Anderson says she can pay her own bills. Peters denies making comments suggesting she can’t

Burger King breaks the mould with new advertising campaign

The company is known for irreverent ad campaigns

Maggie and Tim: B.C. residential school survivor turns to faith, forgiveness in mourning son

A young man’s tragic death and his mother’s survival through hardship

PHOTOS: RCMP call on kids to name latest police puppy recruits

This year’s theme is the letter ‘N,’ and 13 German shephards must be named

B.C., federal ministers plead for meeting Wet’suwet’en dissidents

Scott Fraser, Carolyn Bennett standing by to return to Smithers

B.C. mom’s complaint about ‘R word’ in children’s ministry email sparks review

In 2020, the ‘R’ word shouldn’t be used, Sue Robins says

Federal minister pledges to meet Wet’suwet’en chiefs in B.C. over natural gas pipeline

The Wet’suwet’en hereditary chiefs say they are visiting Mohawk territory

Most Read