Regulate business to tackle climate crisis, urges Mark Carney

Former Bank chief says governments must act as free markets will not reduce emissions alone

Governments must step up their regulation of businesses to tackle the climate crisis, the former Bank of England governor Mark Carney has urged, because the financial free markets will not reduce greenhouse gas emissions alone.

Carney, who left the Bank of England last year before the first Covid-19 lockdown, is now one of the most influential figures working on Cop26, the vital UN climate talks to be held in Glasgow in November. He is a UN envoy on climate change and Boris Johnson's finance adviser on the climate.