- Carney is a Canadian who went to Wall Street (an investment banker with Goldman Sachs Group). Then was appointed Governor of the Bank of Canada; followed by Governor of the Bank of England.
- He will now take over as UN Special Envoy on Climate Action and Finance.
- Postings related to Carney are at bottom. He has kept his name clean. HOWEVER
- While in London, Carney made compelling statements about the need to clean up offshore banking. As far as I am aware, there has been no progress on that file and the international corruption of which it is part.
- He has connections to the “Inclusive Capitalism Initiative” (ICI). It is a RE-BRANDING of capitalism in the wake of the 2007-08 Wall Street meltdown and the anti-capitalism sentiment engendered.
- To the extent that Carney is a tool of the Financial Industry, adept at making it APPEAR that serious problems are being dealt with head-0n, he will be beneficial to the powers-that-be.
- Over-burdened with claims related to climate change, the Insurance Industry world-wide lost a billion dollars last year. The insurance industry is a component of The Banksters.
- I would like to think that Carney will do a good job in his new role. But after a review of the Related Postings at the bottom, I think I should “get real”. He will do a good job for the power elite.
- It will be beneficial for all the Corporatocracy to have a representative at the Centre. Average people will once again be betrayed by nice talk but little effective action in halting the destruction of the capability of the planet to support the existence of human beings. Not unless we are willing to rise up, mobilize and make change at the local level.
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Bank of England governor steps down in January and will replace Michael Bloomberg (as UN special envoy for climate action and finance)
by Sarah Butler
Mark Carney has been appointed as UN special envoy for climate action and finance as he prepares to step down as governor of the Bank of England in January.
Carney replaces billionaire Michael Bloomberg in the part time pro bono climate action role after the former New York mayor stepped down to focus on the US presidential race.
The governor has been signed up to galvanise action among financial institutions ahead of the 26th round of global climate talks in November 2020. His main focus will be on mobilising private finance to invest in schemes that will help achieve the Paris climate agreement goal of limiting global temperature rises to 1.5C.
His remit will include building frameworks for financial reporting and risk management.
Carney said the new role, for which he will be paid a token $1 a year once his term at the Bank of England ends, would provide “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.”
He 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. The Bank of England, the UK government and the UK financial sector can play leading roles in making these imperatives happen.”
Carney has previously spoken out about the need for change, warning in October that the global financial system was backing carbon-producing projects that would raise the temperature of the planet by over 4C.
Carney is due to end his six-and-a-half-year stint at Threadneedle Street at the end of January but the government has postponed the announcement of a successor until after the general election.
Carney has twice extended his term but the Treasury has indicated it is confident that the new government will be in a position to make an appointment from a slate of candidates soon after the election on 12 December.
The shortlist is thought to include Andrew Bailey, chief executive of the Financial Conduct Authority; Minouche Shafik, head of the London School of Economics; Shriti Vadera, chair of Santander UK; and Ben Broadbent and Jon Cunliffe, both deputy governors at the Bank.
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An email thread collecting the connections. Good content but only if you have time.
Steven Hiatt leads a discussion on A Game as Old as Empire: The Secret World of Economic Hit Men and the Web of Global Corruption.
The authors tell how multinational corporations, governments, powerful individuals, banks, other financial institutions, and quasi-governmental agencies operate to enrich small elites and corporate coffers while often impoverishing masses of people and creating debt and dependency that economically enslave countries for generations. Editor Steve Hiatt, who has worked as an editor and writer for several Bay Area companies, including Apple Computer, Netscape, Progressive Asset Management, and Stanford Research Institute, talks this evening with two of the book’s contributors, Antonia Juhasz, who writes of “Global Uprising: The Web of Resistance” and Ellen Augustine, who writes on “The Philippines, the World Bank, and the Race to the Bottom” –