Mark Carney appointed UN envoy for climate change
Governor of Bank of England to take up new role at the end of January

The Governor of the Bank of England, Mark Carney, has been appointed United Nations Special Envoy for Climate Action and Finance.
The BBC says the special envoy post “is a pro bono position that is undertaken essentially for free” and that the UN will pay Carney just $1 a year for the work when he steps down as governor of the Bank of England at the end of January.
Carney will be tasked with mobilising private finance to take climate action and help transition to a net-zero carbon economy for the 26th Conference of the Parties (COP) meeting in Glasgow in November 2020.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
This will include building new frameworks for financial reporting and risk management, as well as making climate change a key priority in private sector financial decision making.
Billionaire former New York Mayor Michael Bloomberg, who recently entered the race to become the Democratic US presidential candidate, was the last person to hold the post. Bloomberg worked with the UN on climate change-related issues from 2014 to 2019.
Speaking at a news conference ahead of a climate summit in Madrid this week, UN Secretary General Antonio Guterress described Carney as “a remarkable pioneer in pushing the financial sector to work on climate”.
Reuters reports that Carney “has urged the financial sector to transform its management of climate risk, and led various international initiatives to improve supervision and disclosure”. In October, he told The Guardian that companies and industries that are not moving toward zero-carbon emissions will be punished by investors and face bankruptcy.
–––––––––––––––––––––––––––––––For a round-up of the most important business stories and tips for the week’s best shares - try The Week magazine. Start your trial subscription today –––––––––––––––––––––––––––––––
His successor at the Bank of England has not yet been named after the selection process was disrupted by Brexit and the upcoming general election.
Bloomberg says that there is “boosted speculation [Carney] may be asked to extend his term at the Bank of England for a third time”, although Chancellor Sajid Javid said last month that his party would appoint a new chief “very, very, quickly” if it wins the election.
“The Canadian has given little indication of what he wants to do after leaving Threadneedle Street” says City A.M., adding that “the UN climate job suggests he will seek an active role in global affairs”.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Book reviews: 'America, América: A New History of the New World' and 'Sister, Sinner: The Miraculous Life and Mysterious Disappearance of Aimee Semple McPherson'
Feature A historian tells a new story of the Americas and the forgotten story of a pioneering preacher
-
Another messaging app used by the White House is in hot water
The Explainer TeleMessage was seen being used by former National Security Adviser Mike Waltz
-
AI hallucinations are getting worse
In the Spotlight And no one knows why it is happening
-
The worst coral bleaching event breaks records
The Explainer Bleaching has now affected 84% of the world's coral reefs
-
Why UK scientists are trying to dim the Sun
In The Spotlight The UK has funded controversial geoengineering techniques that could prove helpful in slowing climate change
-
Electric ferries are becoming the next big environmental trend
Under the Radar From Hong Kong to Lake Tahoe, electric ferries are the new wave
-
Ukraine is experiencing an 'ecocide' and wants Russia to pay
Under the radar The environment is a silent victim of war
-
How wild horses are preventing wildfires in Spain
Under The Radar The animals roam more than 5,700 hectares of public forest, reducing the volume of combustible vegetation in the landscape
-
Scientists invent a solid carbon-negative building material
Under the radar Building CO2 into the buildings
-
Dozens of deep-sea creatures discovered after iceberg broke off Antarctica
Under the radar The cold never bothered them anyway
-
Earth's climate is in the era of 'global weirding'
The Explainer Weather is harder to predict and more extreme