Getting to the net-zero Olympics

Former Bank of England governor Mark Carney, (pic) in his role as UN Special Envoy for Climate Finance, was instrumental in establishing the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) launched at the Paris One Planet Summit in 2017. This indirectly used the financial system to push the real sector (corporations, households and governments) to up the ante on climate action.

AS the rich countries get their vaccination numbers up, whilst poorer countries are still struggling, there is some hope that we are getting to grips with the pandemic.

On the climate change front, there has been some remarkable achievements in the last two months.

First, US President Joe Biden’s Climate Summit in April got 40 top leaders to commit towards working together on climate change.

Even though several countries did not commit to anything new, notably Australia, just getting the US back to the Paris Agreement on Climate Change was a big deal.

With China, Russia and all of G20 emerging markets aboard, this was a sign that enemies and rivals can cooperate where it is important for mankind.