Tuesday January 28, 2020

Carney’s climate comments are a wake-up call for investors

The outgoing governor of the Bank of England is right this time: fund managers must start thinking about the long term – and quickly

Ian Guider

Markets Editor

@ianguider
5th January, 2020
Mark Carney, the outgoing governor of the Bank of England has predicted that increasing global temperatures will render many investments worthless. Picture: Getty

Mark Carney, the outgoing governor of the Bank of England, has a mixed reputation when it comes to predictions. His belief that Brexit would have a dire impact on the British economy has, so far at least, proved wide of the mark. As for raising interest rates, after one increase he reversed course and actually ended up cutting them again.

His latest pronouncement, last week, that increasing global temperatures will render many investments worthless has...

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