Carney’s warning on carbon’s financial risks

The BoE is rightly worried about the dangers posed by climate change.

The Bank of England’s mission is expressed in one succinct phrase: “maintaining monetary and financial stability”. The brevity of this remit is well surpassed by the powers it confers on the BoE. Governor Mark Carney sits atop not just the Monetary Policy Committee but the Prudential Regulation Authority, which oversees 1,700 institutions, and the Financial Policy Committee, charged with preventing the financial system imploding, again.

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Source: FT