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Carney Says Green Finance Can Help Prop Up Global Economy

  • Bank of England chief says markets braced for ‘disaster’
  • Companies told to report climate scenarios and strategies
Aerial Views Of The London Array Offshore Windfarm
Photographer: Simon Dawson/Bloomberg
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Bank of England Governor Mark Carney said green finance could help prop up global economic growth if policymakers smooth pathways for investors to channel $100 trillion locked up in fixed income markets into projects that reduce pollution.

Seeking to make a macroeconomic case for investing in lowering greenhouse gases, Carney noted that the global economy has remained weak despite “years of unprecedented monetary policies” and steps to repair bank balance sheets. Business and investors, he said, appear to be “hedging future disaster risk.”