Carney will step down as Bank of England chief on January 31.
The United Nations has appointed Mark Carney, the governor of the Bank of England, as its Special Envoy for Climate Action and Finance.
A Bank of England statement defined Carney’s role as “galvanising climate action and transforming climate finance” before the U.N.’s 2020 climate change summit, due to take place in Glasgow.
One of his main jobs will be to change the financial system to encourage more private investment in climate-protecting measures.
Making the announcement in Madrid the day before the COP25 climate summit kicks off, U.N. Secretary-General António Guterres told a press conference the world’s efforts to stop climate change have been “utterly inadequate” so far and warned of a danger global warming could pass the “point of no return.” The World Meteorological Organization said last week the levels of greenhouse gases in the Earth’s atmosphere reached a new record in 2019.
Carney, who has run the United Kingdom’s central bank since 2013, described himself as “honoured” to have been offered the post and said: “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 will step down as Bank of England chief on January 31. The U.N. will pay him a nominal $1 per year for his role as special envoy.
Former Mayor of New York Michael Bloomberg, who is now running to be U.S. president, was previously chosen for the role and tasked with paving the way to this year’s climate summit.