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

Trail council reviewing handicap parking designations

Access improvements coming to park washrooms, Sk8Park

Donation to Trail music therapy program

Money will be used for Music Heals program at Columbia View Lodge

Gathering for Global Day of Action in Castlegar

80 people met at Castlegar United Church, urging all federal leaders to avoid a catastrophic war

Success rates up at Castlegar’s airport

2019 was a good year for the West Kootenay Regional Airport

Column: Slocan Valley environmentalist deserves thanks for tenacity

Marilyn Burgoon stepped in when no one else would to ensure justice in the Lemon Creek fuel spill

Feds preparing plane to fly Canadians out of Wuhan, once China gives OK

160 Canadians have asked for help to leave province at centre of coronavirus outbreak

60% of Canadian workers would take a pay cut for better mental health support: survey

Survey found 77% of workers would leave for better wellness initiatives

Runaway rail car reported on same B.C. train line as fatal 2019 derailment

CP Rail confirmed the incident happened on Jan. 14.

Southern resident orca L41 considered missing and feared dead

The orca was last spotted in August 2019 when photographed in western Strait of Juan de Fuca

‘I am so sorry’: Stolen Baby Bear statue reunited with Mama, Papa Bear in B.C. town

Culprit left it near the Henry Road roundabout in Chemainus with a note attached

‘Critically low’ caribou population prompts wolf cull in the Chilcotin

Itcha-Ilgachuz herd numbers down to 385, from 2,800 in 2003

Off-duty B.C. Mountie takes down would-be ice cream thief

Suspect attempted to steal Dilly Bars from Dairy Queen location on Sunday

RCMP to review fatal B.C. train derailment investigation after evidence points to ‘cover up’

The derailment, which occurred on Feb. 4, 2019, killed three men from Calgary

Most Read