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

Businesses and organizations team up for Miracle on 50th

Shop local, celebrate local on Dec. 14th

The Association of Communities Against Abuse continues to build awareness and offer support

A new support and empowerment group has also been started in Stettler

Lighting up the neighbourhood for a terrific cause

Every year, the Maruk family puts up an amazing Christmas lights show

Histories of our treasured Christmas traditions

Why we do what we do during the festive season

The best caesar in Canada can be found in Sylvan Lake

Kjeryn Dakin’s Tragically Hips caesar won the national Best Caesar in Town competition

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

Alberta premier opens war room to promote ‘truth’ about energy industry

Effort includes a $2.5-million public inquiry into foreign funding of anti-oil advocacy groups

Feds urge Air Canada to fix booking problems as travel season approaches

The airline introduced the new reservation system more than three weeks ago

Almost 14,000 Canadians killed by opioids since 2016: new national study

17,000 people have been hospitalized for opioid-related poisoning

Thunberg ‘a bit surprised’ to be Time ‘Person of the Year’

‘I could never have imagined anything like that happening,’ she said in a phone interview

Toronto Raptors, Don Cherry top the list of Canadians’ Google searches in 2019

‘Champions’ was the theme of the last year, Google said

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

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

Most Read