The Case for a Low Carbon Economy

Mark Carney said there were growing opportunities
for firms to finance the transition to a low carbon economy. Photograph: Victoria Jones/PA

Do you remember Mark Carney? He is a Canadian who was governor of the Bank of Canada for several years before heading to Britain for the same role. He addressed a gathering of financial leaders in Amsterdam this week and urged them to make the shift to green investment and disclosure about the financial effects of climate change. Here is an excerpt from a Guardian report:

The governor of the Bank of England has warned of the “catastrophic impact” climate change could have for the financial system unless firms do more to disclose their vulnerabilities. Telling banks and insurers they would need to provide more information about the risks they might face from climate change, Mark Carney  said failure to do so would have damaging effects for financial stability.
He said the finance industry could be forced into making rapid adjustments if they did not gradually expose where their climate change risks might lie, which he said could trigger steep losses.
“Given the uncertainties around climate, not everyone will agree on the timing or scale of the adjustments required … [but] the right information allows sceptics and evangelists alike to back their convictions with their capital,” Carney said.




Oil Sands mining

Through my years in ministry I attempted to address the realities of climate change from a Christian perspective and  encouraged people to develop a long-term perspective on what this might mean for choices of personal lifestyle and leadership in government. There were some who grumbled about my raising the subject and criticized me for my business naivete and for "getting political." Well, if we can't breathe or eat or produce goods and services it isn't naïve, its reality.

I hope the Canadian government is listening to what Carney is saying to his European counterparts and ignoring the nonsense emanating from the US these days.

There is an economic case for Creation Care as well as a spiritual imperative and we better wake up, fast.