Weather Events: Zero-Carbon Economy and Bank Governors

weather events: Carney has been one of the most vocal central bank governors on the need for the financial sector to do more to transition towards a zero-carbon economy, according to The Guardian. He told the programme that the climate crisis was a tragedy on the horizon and that more extreme weather events were inevitable. Carney, who will focus on his new role as UN special envoy for climate change and finance after he steps down from the governorship in the new year, agreed to appear on the programme for an edition edited by the climate crisis campaigner Greta Thunberg, one of several guest editors on Today over the holiday period. By the time that the extreme events become so prevalent and so obvious, it will be too late to do anything about it, he said. They need to make the argument, to be clear about why is that going to be the case if a substantial proportion of those assets are going to be worthless. Political leaders had to start addressing future problems today . On the issue of whether investors should be divesting from companies in the fossil fuel sector, Carney said fund managers would have to make the judgment and justify to the people whose money it ultimately is . When pressed on whether pension funds should divest from oil and gas companies even if the returns were attractive, he replied Well that hasn't been the case but they could make that argument. (news.financializer.com). As reported in the news.