Mark Carney appointed as climate finance adviser
Will advise for COP26
Outgoing Governor of the Bank of England, Mark Carney, has been appointed by Prime Minister Boris Johnson to serve as finance adviser for the upcoming UN Climate Change conference (COP26) in Glasgow.
Carney has been brought in to "help build a sustainable financial system to support the transition to a net zero economy".
His key focus will be to help achieve the 1.5°C goal of the Paris Agreement through mobilisation of "ambitious" action across the financial system.
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This will include building frameworks for financial reporting, risk management and returns in order to "embed climate considerations into every financial decision".
Carney leaves the Bank of England in March and this role adds to those he has already accepted, including U.N. envoy on finance and climate change, a role he inherits from former New York mayor and 2020 presidential hopeful Michael Bloomberg.
Of his appointment, Carney said: "I am honoured to have been appointed by the Prime Minister as the finance adviser for COP26 in Glasgow.
"The combination of these critical meetings and the UK's global leadership in financial services provides a unique opportunity to address climate change by transforming the financial system.
"To seize it, all financial decisions need to take into account the risks from climate change and the opportunities from the transition to a net zero economy.
"The UK has a plan to do just that, and I look forward to working with the private sector, HM Government, the Bank of England and all stakeholders to help make this promise of sustainable finance a reality."
Johnson added: "His expertise will help the UK to lead in mobilising businesses and investors to support our net-zero revolution."
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