MADRID - Bank of England Governor Mark Carney will lead a push by the United Nations to make the finance sector take proper account of the risks posed by climate change, U.N. Secretary General Antonio Guterres said on Sunday.
He told a news conference before a U.N. climate summit in Madrid beginning on Monday that Carney would be the U.N. special envoy on climate action and climate finance from next year. He has spoken of “stranded assets” - deposits of coal, oil and gas that might lose their value if the world shifts away from carbon - and decried a lack of transparency about the effect on global warming of trillions of dollars of potential investments.
“The disclosures of climate risk must become comprehensive, climate risk management must be transformed, and investing for a net-zero world must go mainstream,” Carney said in a statement.
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