- link Copy URL
- [     Share on X ](https://twitter.com/intent/tweet?text=Carney’s CEO Club Gives $3.3 Trillion Muscle to Climate Fight https://www.3blmedia.com/markdownify/node/83270?absolute=1&via=3blnews "Share on X")
- [  Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/83270?absolute=1 "Share on Linkedin")
- [  Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/83270?absolute=1 "Share on Facebook")
- [ email Share via email ](mailto:?subject=Carney’s CEO Club Gives $3.3 Trillion Muscle to Climate Fight&body=ESG News from Bloomberg https://www.3blmedia.com/markdownify/node/83270?absolute=1 "Share via email")
 
 

 [Environment](/categories/environment)

 # Carney’s CEO Club Gives $3.3 Trillion Muscle to Climate Fight

 


 

 Jun 29, 2017 12:20 PM ET

  Campaign: Originally posted on [www.bloomberg.com](https://www.bloomberg.com/news/articles/2017-06-29/carney-s-ceo-club-gives-3-3-trillion-muscle-to-climate-fight).   
  
Bank of England Governor Mark Carney said he’s concerned investors aren’t doing enough to assess threats that global warming will have on assets they purchase.  
  
The central bank governor who also leads the [Financial Stability Board](https://www.bloomberg.com/quote/0850027D:SW "Company Overview") advising the Group of 20 nations also won the backing of more than 100 chief executive officers for his campaign to increase financial reporting standards on issues related to the environment. That transparency, he said, would help investors understand how rising temperatures will affect company performance.  
  
"The risk is that people aren’t thinking about this sufficiently, and that there’s a bigger adjustment that comes -- you get a climate Minsky moment where there’s much tougher regimes put in place,” Carney said in an interview on Bloomberg Television on Thursday, noting there’s already upheaval in the strategy of German utilities and stemming from the [Volkswagen AG](https://www.bloomberg.com/quote/VOW3:GY "Company Overview") emissions scandal.  
  
The remarks amplify a theme Carney has stressed for years, that the impact of rising temperatures and more unpredictable weather represents a long-term risk for investors more used to assessing investments a few months or at most a few years in advance.  
  
The Group of 20 leading economies asked Carney in 2015, shortly before negotiations for the Paris Agreement on climate change, to compile a study weighing the financial risks implied by global warming. Companies with a combined market value of more than $3.3 trillion -- equivalent to all the goods and services produced annually by Germany -- threw their weight behind Carney’s final report on climate change as it was published on Thursday.   
  
More companies are likely to join the effort “as people become engaged,” Carney said, adding that their support will improve steps toward transparency the FSB is suggesting.

*Michael Bloomberg, founder and majority owner of Bloomberg News and its parent company Bloomberg LP, was appointed to lead the 31-member panel, which also includes executives and advisers from a variety of industries around the world.*  
  
To read the full story, [click here](https://www.bloomberg.com/news/articles/2017-06-29/carney-s-ceo-club-gives-3-3-trillion-muscle-to-climate-fight). ​



 

 

 

 

 

 

 

 [![](/sites/default/files/Clients/updatedlogoBBGBlck.png)](/profiles/bloomberg)

 

 

### More from Bloomberg

###### [Companies With Gender Diverse Boards Deliver 2–5% Higher Annual Returns Than Companies With Fewer Women, Finds Bloomberg Intelligence](/news/companies-gender-diverse-boards-deliver-2-5-higher-annual-returns-companies-fewer-women-finds)

 Oct 23, 2024 9:30 AM ET

  



###### [Bloomberg Named a Leader in Climate Financial Data and Analytics in Report by Independent Research Firm](/news/bloomberg-named-leader-climate-financial-data-and-analytics-report-independent-research-firm)

 Oct 22, 2024 9:00 AM ET

  



###### [Bloomberg Launches Solution to Help Investors Assess Their Exposure to Nature and Biodiversity-Related Risks](/news/bloomberg-launches-solution-help-investors-assess-their-exposure-nature-and-biodiversity)

 Oct 18, 2024 1:30 PM ET

  



###### [Public Research for Climate Action](/news/public-research-climate-action)

 Sep 26, 2024 4:00 PM ET

  



###### [Bloomberg Expands Climate Solutions To Enhance Corporate Transition Risk Assessments and Help Firms Align Portfolios With Their Net Zero Targets](/news/bloomberg-expands-climate-solutions-enhance-corporate-transition-risk-assessments-and-help)

 Sep 20, 2024 3:30 PM ET

  



###### [EDP Renewables to Supply Clean Electricity to Bloomberg in Innovative Long-Term Contract](/news/edp-renewables-supply-clean-electricity-bloomberg-innovative-long-term-contract)

 Sep 13, 2024 11:30 AM ET

  



###### [Bloomberg Named a Leader in ESG Data and Analytics in Report by Independent Research Firm](/news/bloomberg-named-leader-esg-data-and-analytics-report-independent-research-firm)

 Aug 19, 2024 6:15 PM ET

  



###### [Net-Zero Window Closing but Still Time To Get on Track](/news/net-zero-window-closing-still-time-get-track)

 Aug 8, 2024 9:00 AM ET