Mark Carney also told the Guardian it was possible that the global transition needed to tackle the climate crisis could result in an abrupt financial collapse. The Guardian revealed last week that just 20 fossil fuel companies have produced coal, oil and gas linked to more than a third of all emissions in the modern era. The Bank of England has said up to $20tn (£16tn) of assets could be wiped out if the climate emergency is not addressed effectively. Mark Carney: most fossil fuel reserves can't be burned Read more“Certainly the UK financial system is one of the most sophisticated at managing this risk. The UK can extend that lead, for the good of the UK, for the good of the world,” he said.

Source: The Guardian October 13, 2019 10:52 UTC