Home Business NewsBusinessBanking Mark Carney lands UN Special Envoy job earning $1 a year

Mark Carney lands UN Special Envoy job earning $1 a year

by LLB Reporter
2nd Dec 19 10:44 am

Mark Carney the governor of the Bank of England (BoE) has landed a his first post BoE job as United Nations (UN) Special Envoy for climate action and finance.

Carney leaves the BoE on 31 January 2020 and will take up his new role earning him a token $1 per year for his services to the UN.

His new role will see Carney “galvanising climate action” and creating a framework for companies to report on climate risk enabling investors to see the risks to climate change for potential investors.

In a statement the BoE governor said, “I am honoured to have been asked by the secretary general to take on this important role to help transform climate finance ahead of the COP26 meetings in Glasgow next November.

“This provides a platform to bring the risks from climate change and the opportunities from the transition to a net zero economy into the heart of financial decision-making.

“To do so, the disclosures of climate risk must become comprehensive, climate risk management must be transformed, and investing for a net-zero world must go mainstream. The Bank of England, the UK government and the UK financial sector can play leading roles in making these imperatives happen.”

Brad Fried, chair of court at the BoE said, “The appointment of the governor to the role of Special Envoy is testament to the global recognition for his work – and the work of the Bank of England in encouraging leaders in business and finance to change their approach to climate change.

“The Bank is delighted he will continue to take forward this work after he steps down from his role as governor.”

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