Environment lobby calls out Carney's climate finance credibility

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Former Bank of Canada governor Mark Carney's credibility as a global climate finance leader is under fire as environment lobby groups say he is allowing some of the world's biggest banks to use him as cover to keep funding fossil fuels.

Carney is widely expected to run for the federal Liberals in a future election and campaigned for some Liberal candidates in the election that ended last month. But he turned down openings to run in that campaign himself because of his previous commitment as the United Nations special envoy on climate action and finance.

A coalition of more than 90 Canadian and international environment groups published full-page ads Thursday in the Toronto Star and Financial Times asking Carney to beef up the membership requirements in that alliance. "The threshold that's been set is very much, 'Hey, join the club and then sometime in the future we'll ask you to make some more commitments about how you're going to change your practices on this road to get into net zero emissions by 2050,"' Brooks said.

"We've had way too many years, decades, of talking and talking and not enough acting, and it's really time to call people on their talk, and force them to walk," said Brooks.

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