LONDON — Financial services have been too slow to cut investment in fossil fuels, a delay that could lead to a sharp increase in global temperatures, Bank of England Governor Mark Carney said in an interview broadcast on Monday.
Carney, due to become the United Nations’ special envoy for climate change next year when he steps down from the bank, told BBC radio that global warming could render the assets of many financial companies worthless. Carney cited pension fund analysis that showed the policies of companies pointed to global warming of 3.7 to 3.8 degrees Celsius, compared with the 1.5-degree target outlined in the Paris Agreement on climate change.“The concern is whether we will spend another decade doing worthy things but not enough… and we will blow through the 1.5C mark very quickly,” Carney said in a radio program guest edited by teenage environmental campaigner Greta Thunberg.
He said there would need to be a mix of public investment and change driven by financial markets because of their power to reflect judgements about the future value of assets in a world affected by climate change. Earlier this month, the BoE said Britain’s top banks and insurers should be tested together for the first time in 2021 to quantify the potential financial damage from climate change on their businesses.
Biggest scam of our lifetime.
Here we go!
You too....?
Oh stop it!
Ok 🙄
Carney has completely lost the plot.
I never really liked Mark Carney. Even less now. cdnpoli
BS
change life forever: fire, wheel, tools, coal, oil, steam,compass, internal combustion,printing, guns, concrete,railway, electricity,airplane,battery, telephone,steel,transistor,pill, antibiotics, refrigeration,TV, camera, computer.Population forecast 9.7B in 2050. Reverse that.
The New York Knicks could be a decent team save for global warming. There. Two equally unlikely statements linked using a common theme. TheFrankIsola cdnpoli
Government pumped for tax and a taker hack imo
Well he is a money man and sees where there is some to had by climbing on the climate change bandwagon.
Thank goodness we exported that blowhard
That is when everybody will believe in GW
BULLSHIT IT'S FAKE NEWS PUSHING THE GLOBALIST AGENDA
Imagine believing this
This article is pure propaganda. Shame on you for posting this.
Sure.
Looks like the UN is doubling down on the BS. We need to start ignoring everything and everyone associated with the United Nations. People in Canada are becoming aware of exactly what you are. Globalists trying to control people through fear and manipulation.
Lololol
More climate exaggeration.
We have heard this lie already 30yrs ago. It's also not the first time this has been put out there. It's a way to drive new investment and economy
chilly CONcarney, shillin' for the rothschilds...again.
Oh..so Carney has become a high priest of the climate change cult.
And that's why the shill for the weather hype club while working the bank of england continued to loan money for huge waterfront projects. could'a would'a should'a build house on hill, it may slide down build house near water, it may sink It's rigged with the insurance comp.
and equities. ahahha muahahhaha
muahahahaa there goes their liabilities too.