Mark Carney News

UN Envoy Carney Backs Investors’ Call for Increased Climate Risk Disclosure

United Nations climate envoy Mark Carney on Thursday threw his weight behind a growing push by investors for companies to more accurately reflect climate-related risks in their financial accounts. Such risks can range from physical dangers such as water levels …

Former Bank of England Chief Carney Joins Advisory Board of Allianz’ PIMCO

Former Bank of England Governor Mark Carney will join the advisory board of PIMCO, one of the world’s biggest bond investment companies, adding to his existing roles with the United Nations and a Canadian asset manager. Carney will work alongside …

Bank of England’s Carney Warns Investors to Get Serious About Climate Change

In a world facing a climate crisis, investors need to start taking account of carbon emissions and rising temperatures in their decisions, according to Bank of England Governor Mark Carney. The shift in thinking will be key to the industry’s …

Outgoing BoE Governor Discusses Risks of Negative Interest Rates, Climate Change

Mark Carney said he’s lucky he never had to cut interest rates below zero as Bank of England governor because they would have damaged the UK. Carney, who leaves the central bank next month, has long been opposed to negative …

Financial Services Industry Must Act Faster on Climate Change: Bank of England Chief

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 …

U.K. Business Executives, Economists, Politicians React to New BoE Boss Bailey

Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday. Following is reaction to his appointment. LIZ MARTINS, UK ECONOMIST, HSBC “In terms of Mr Bailey’s position on the dove-hawk spectrum, it is very hard …

U.K. Names Bailey as Bank of England Chief, Succeeding Carney

Andrew Bailey will be the next head of the Bank of England after the government chose to replace Mark Carney with the U.K.’s top financial regulator, just as Britain faces the next phase of Brexit. He’ll start on March 16, …

Many Major Central Banks, Minus U.S. Fed, Taking Action on Climate Change Risks

Bank of England Governor Mark Carney was in no mood for laughter as he stood in his tuxedo before the great and good of the British insurance industry. “I’m going to give you a speech without a joke, I’m afraid,” …

UK Regulator Asks Insurers to Weigh Possible Business Impact of Climate Change

The Bank of England for the first time is asking British insurers to gauge how global warming might impact the value of the stocks and bonds they hold — and its potential to upend financial markets. The central bank, which …

Bank of England to Issue Rules for How Banks, Insurers Should Manage Climate Risk

The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday. The central bank under Carney has been vocal in highlighting …