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.

Just Posted

Sylvan Lake FCSS recipient of Award of Excellence

Sylvan Lake FCSS was given the Award of Excellence by the FCSS Association of Alberta

Sylvan Lake woman charged with fraud over $500,000

Rimbey RCMP launched an investigation in July 2019 with the suspect turning herself in on Aug. 30

PHOTOS: Sylvan Lake gives during annual Charity Check Stop

Sylvan Lake Emergency Services participated in the Charity Check Stop over the weekend

Sylvan Lake Wranglers fall in close game to Coaldale Copperheads

The Wranglers face the Southern Division second place team Sunday night at the NexSource Centre

Sylvan Lake company producing anti-ice beet brine

TD Bobcat Services first began manufacturing the organic brine in Sylvan Lake in 2014

VIDEO: Merriam-Webster declares ‘they’ its 2019 word of the year

Declared word of year based on a 313-per-cent increase in look-ups on the company’s search site

Day parole revoked for man who strangled wife, buried body in their Calgary home

Parole Board revoked Allan Shyback’s day parole after he had sex with a massage parlour worker

Alberta plans to reduce surgery wait-times by building operating rooms, using private clinics

Health minister says goal is to have 80,000 more surgeries done over the next 3 1/2 years

VIDEO: Calgary man narrowly escapes from avalanche while running at Lake Louise

Bryon Howard caught the entire wild experience on camera

No jail but big fine for Alberta store owner convicted of illegal gun sales

At the conclusion of Monday’s hearing, the Crown stayed the remainder of the charges against the father

Anti-money laundering agency warns casinos to watch gamers playing with bank drafts

Financial Transactions and Reports Analysis Centre of Canada, known as Fintrac, issues operational alert

China hints at national security trials for 2 Canadians detained for one year

The two Canadians’ detention is largely seen as retaliation for the arrest of a Huawei exec

Teen seriously injured: Police in Lethbridge, Alta., charge 5 people in swarming

Police say a 16-year-old boy made arrangements to meet with a young woman before he was attacked

PODCAST: The Expert welcomes AA Lacombe General Jared Williams

Lacombe resident joined Red Deer Advocate Sports Reporter Byron Hackett and Host Todd Vaughan

Most Read