CARBON TAX CARNEY

Mark Carney, prior to his tenure as Prime Minister, was a prominent advocate for achieving net-zero greenhouse gas emissions. His objectives and initiatives included:

• Mobilizing Private Finance: As the UN Special Envoy for Climate Action and Finance, Carney emphasized aligning private financial systems with climate goals, aiming to direct significant capital towards sustainable investments.

• Establishing the Glasgow Financial Alliance for Net Zero (GFANZ): In 2021, Carney co-founded GFANZ to unite financial institutions in committing to net-zero emissions by 2050, fostering collaboration across the sector to support the transition to a low-carbon economy. 

• Advocating for Robust Carbon Markets: Carney supported the development of transparent and credible carbon markets to incentivize emission reductions and promote sustainable practices among businesses. 

• Integrating Climate Considerations into Financial Decisions: He championed the incorporation of climate risks into financial decision-making processes, encouraging institutions to assess and disclose their environmental impact. 

These efforts reflect Carney’s commitment to leveraging financial systems and policies to achieve global net-zero targets.

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