Firms ignoring climate crisis will go bankrupt, says Mark Carney

Bank of England governor warns of financial collapse linked to climate emergency

• Top asset managers oversee $300bn fossil fuel investments
• Why are asset managers investing in fossil fuel companies?

Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt, the governor of the Bank of England has warned.

Mark Carney also told the Guardian it was possible that the global transition needed to tackle the climate crisis could result in an abrupt financial collapse. He said the longer action to reverse emissions was delayed, the more the risk of collapse would grow.

Related: Top investment banks provide billions to expand fossil fuel industry

The Guardian has collaborated with leading scientists and NGOs to expose, with exclusive data, investigations and analysis, the fossil fuel companies that are perpetuating the climate crisis - some of which have accelerated their extraction of coal, oil and gas even as the devastating impact on the planet and humanity was becoming clear.

Related: Mark Carney: most fossil fuel reserves can't be burned