Mark Carney will become the United Nations’ special envoy for climate action and finance next year.

Carney, 54, is currently governor of the Bank of England. From this position, he has focused on developing new frameworks for financial institutions to report on climate-related risks.

He will replace Michael Bloomberg, billionaire and former mayor of New York, who stepped down to run for president.

Carney was appointed to his position by UN secretary-general António Guterres, ahead of the UN COP25 climate summit on 2 December in Madrid, Spain. Guterres said his role would be to “support the transition to a net-zero carbon economy”.

Carney has been speaking for years on the risks that climate change poses to finance:
“The disclosures of climate risk must become comprehensive, climate risk management must be transformed, and investing for a net-zero world must go mainstream”, he said.

He will only become appointed when he has left the bank. The role is advisory and unpaid.