Mark Carney Highlights Financial Challenge of Reducing Carbon Emissions

The former Bank of England governor called for ‘certainty’ from governments, following his endorsement of the Labour Party last week

Mark Carney, U.N. special envoy for climate action and finance and co-chair of the Glasgow Financial Alliance for Net Zero speaks onstage during the Bloomberg Transition Finance Action Forum at The Plaza Hotel in New York on Sept. 19, 2023. Bryan Bedder/Getty Images for Bloomberg Philanthropies

Mark Carney, former governor of the Bank of England and current United Nations envoy for climate action and finance, has emphasised the financial challenge associated with reducing carbon emissions.

Speaking at an event in Marrakesh, Mr. Carney acknowledged the considerable costs involved in transitioning to a net-zero economy, especially in a world marked by lower growth, higher debt, and uncertainty owing to factors like global conflicts and inflation.