Bank of England chief Mark Carney issues climate change warning
by Roger Harrabin, BBC Environment Analyst, BBC, December 30, 2019
Readers, please see link at the bottom to go to the video interview.
The world will face irreversible heating unless firms shift their priorities soon, the outgoing head of the Bank of England has told the BBC.
Mark Carney said the financial sector had begun to curb investment in fossil fuels – but far too slowly.
He said leading pension fund analysis "is that if you add up the policies of all of companies out there, they are consistent with warming of 3.7-3.8C".
Mr Carney made the comments in a pre-recorded BBC Radio 4 Today interview.
The interview, by presenter Mishal Husain, is one of several items on the programme which are focusing on climate change, on the day the show is guest edited by environmental campaigner Greta Thunberg.
Mr Carney added that the rise of almost 4C was "far above the 1.5 degrees that the people say they want and governments are demanding.”
Scientists say the risks associated with an increase of 4C include a nine metre rise in sea levels - affecting up to 760 million people – searing heatwaves and droughts, and serious food supply problems.