Focused on four major crises-the Global Financial Crisis, the Global Health Crisis, Climate Change and the Fourth Industrial Revolution– Mark Carney shares his insights into lessons learned and economic opportunities that put people and planet first.
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Mark Carney
UN Special Envoy on Climate Action and Finance; Governor of the Bank of England (2013-2020)
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Economist and former banker, Mark Carney has spent his life in various financial roles, in both the public and private sector. His experiences as governor of the Bank of England (2013-2020), governor of the Bank of Canada (2008-2013), and now as UN Special Envoy on Climate Action and Finance, offer him a unique position to provide tangible action plans for leaders, companies and countries to transform the value of the market back into the value of humanity.
During his thirteen-year career with Goldman Sachs, Carney helped a series of emerging economies, including post-apartheid South Africa, gain access to international capital markets. Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004, he left the Bank of Canada to become Senior Associate Deputy Minister of Finance, where he oversaw five budgets during a series of minority parliaments and represented Canada at the G7 and G20. He was appointed as Governor of the Bank of Canada during the midst of the 2008 financial crisis, taking immediate action, including pre-emptively restructuring the $200 billion CDO market, and reducing interest rates before most other countries and committing to hold them down for 12 months after, a groundbreaking move that supported Canadian credit markets and business confidence. As a result of Carney’s actions, Canada was able to return to prerecession levels of output and employment earlier than others in the G7.
In 2012 U.K. Chancellor of the Exchequer George Osborne stunned observers when he declared that Carney would succeed Lord Mervyn King as governor of the Bank of England, marking the first time that a non-Briton was appointed to the position. Carney quickly adopted the “forward guidance” strategy he had applied in Canada—navigating the United Kingdom through falling unemployment rates, rising interest rates, and Brexit. He is credited with focusing attention on modern challenges including digital currencies and climate change, launching the bank’s first climate-related stress tests. He stepped down as governor of the Bank of England when his term ended in 2020.
His new book VALUE(S): Building a Better World for All, is a meditation on his experiences that examines the short-comings and challenges of the market in the past decade which he argues has led to rampant, public distrust and the need for radical change.
Carney earned his bachelor’s degree from Harvard University, and went on to receive both a master’s degree and doctorate in Economics from Oxford University. He now resides in Ottawa, Canada.
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Topics
Topics
From Market Economies to Market Societies: Solving The World’s Major Crises
VALUES: Building a Better World for All
The Value of the Global Climate
Resilience After Financial Crises
The Economic Outlook and How to Prosper in an Age of Disruption
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Videos
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