WWF welcomes appointment of Bank of England Governor Mark Carney as new UN Envoy for Climate Action and Finance
Posted on 01 December 2019
Today, UN Secretary General Antonio Gueterres announced that Bank of England Governor Mark Carney will be the new UN Special Envoy for Climate Action and Finance .
Governor Carney's main efforts will be to galvanise climate action and transform climate finance for COP26 to be held in Glasgow in November 2020. A key focus will be on shifting the financial system towards mobilising private finance to the levels needed to achieve the 1.5°C goal of the Paris Agreement. This will include building the frameworks for financial reporting, risk management and returns to bring the impacts of climate change to the mainstream of private financial decision making and to support the transition to a net zero carbon economy.
Margaret Kuhlow, leader of WWF’s global finance practice said: “The announcement of Bank of England Governor Mark Carney as the new UN envoy for climate action and finance comes not only at a critical moment in the climate crisis, but in the person of a highly respected global financier. Governor Carney’s 2015 characterization of climate change as a ‘tragedy of the horizon’, made the financial sector take notice. The deadline of COP26 in November next year must not only mobilise climate finance at the scale needed, but also align private finance with the Paris Agreement goal of limiting global average temperature rise to 1.5℃.”
Mark Lutes, Senior Advisor: Global Climate Policy for WWF climate and energy practice: “Mark Carney has deep knowledge of the global financial system and has been a leading and credible voice in understanding and addressing the risks that climate change pose to that system, and the need to align investments and financial flows with the climate challenge. UN Secretary General Guterres could not have chosen a better advisor for this area.”
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Bank of England Governor Mark Carney appointed as new UN Envoy for Climate Action and Finance.