Mark Carney denies big banks threatened to quit climate finance group

Former BoE governor admits his net zero alliance weakened veto on coal investment because of antitrust concerns'

The former Bank of England governor, Mark Carney, has denied that big banks threatened to leave the climate finance group he leads after it was forced to soften a previous promise to stop financing all coal projects.

Carney said that big US banks had not indicated any intention" to leave the Glasgow Financial Alliance for Net Zero (GFANZ), a body Carney set up to aid the transition to an economy with net zero carbon emissions.