Mark Carney on a values-led economy
The former governor of the Bank of England argues for a fundamental rewiring of the financial system to confront global challenges.
Photograph by Jeremy Sutton-Hibbert / Alamy
Canadian economist Mark Carney has been on the front line of each of the major economic shocks of the past 20 years: credit crisis, climate change, and COVID-19. As governor of the Bank of Canada from 2008 to 2013, and the Bank of England from 2013 to 2020, he wrestled with the legacy of deregulation and the impacts of devotion to markets in the wake of the global financial crisis, and supported the economy through Brexit and the coronavirus pandemic. Now, as UN special envoy on climate action and finance, and vice-chair and head of ESG at Toronto-based Brookfield Asset Management, he is a key global player in the economic transition to net zero in the lead-up to the United Nations Climate Change Conference of the Parties (COP26) in November.
Livestock and live shellfish exports from the UK to mainland Europe are at a standstill as producers struggle with post-Brexit transport conditions. In 2019, excluding lamb and cattle traded between Northern Ireland and the Republic of Ireland, a combined 31,000 cattle, sheep and goats were exported from the UK to the EU mainland. About 5% would have been exported for fattening for slaughter and the rest for breeding, the National Farmers’ Union.