Ex Bank of England governor Mark Carney says climate crisis will ‘dwarf’ economic problems
Following the Bank of England’s decision to raise interest rates, its former government has said the climate crisis will “dwarf” current economic hardship.
Mark Carney, who is now as special envoy for climate action with the United Nations, called on the government to move away from polluting fossil fuels.
He said the move away from coal oil and gas is “risky and it’ll be disruptive but it can no longer be delayed”, according to Telegraph.
Commenting on the conflict in Ukraine, he claimed energy had become “a weapon in a horrific and unjust war”.
This comes after the Bank of England, which he was at the helm of for for seven years until 2020, raised interest rates to one per cent.
The Bank’s current governor has sounded a warning that the UK is likely heading for a recession, with upwards of 10 per cent inflation.
Carney’s comments will possibly cause anger as many Brits face rising costs and inflation, in addition to soaring energy bills.