Mark Carney: Companies not preparing for climate change ‘will go bankrupt’

The governor of the Bank of England has issued a stark warning to companies that are not preparing for the transition to a net-zero economy.

“Companies that don’t adapt - including companies in the financial system - will go bankrupt, without question,” governor Mark Carney said in an interview with Channel 4 News.

“But also there will be great fortunes made along this path, aligned with what society wants,” he added. “We will have the financial system ready to amplify the effectiveness of [climate] policies to move the country forward.”

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