Mark Carney and Villeroy de Galhau climate change warnings must now provoke financial system change

In response to today’s publication of an open letter from Mark Carney and Villeroy De Galhau accompanying the launch of a report from the Network for Greening the Financial System (NGFS), Gudrun Cartwright, environment director at Business in the Community, said:
“As the Extinction Rebellion protests continue in cities around the world,  with a clear call to action to reverse our course towards the collapse of our civilisation due to climate change and the destruction of natural habitats, Mark Carney, Villery de Galhau and Frank Elderson of the NGFS have added long overdue and needed pressure from the financial system.  Recognising that climate change is an existential risk for all of us, including business, and the financial system being at the heart of driving change are critical if we are to deliver a planet fit for our children's future. 
 
“These clear steps to action must now put into practice at speed and scale.  The financial system is in the perfect position to act as a catalyst to deliver the global sustainable economy we need to turn this existential threat into new models for prosperity and wellbeing. If the financial sector acts decisively, we could see a rapid knock-on effect within the businesses that depend on it. This is a momentous opportunity to design a future we are proud to pass on to future generations, rather than a risk that is too big to face.”
 
Ends
 
Notes to editor

Gudrun Cartwright is available for interview

Media contact
Katherine Howbrook, head of media and external affairs, Business in the Community, Tel: 020 7566 8737, Mobile: 07515 119 096, Email: katherine.howbrook@bitc.org.uk
 
About Business in the Community
Business in the Community, part of the Prince’s Responsible Business Network, is a business-led membership organisation made up of progressive businesses of all sizes who understand that the prosperity of business and society are mutually dependent. We exist to build healthy communities with successful businesses at their heart.
 
We use our Responsible Business Map to guide members on a journey of continuous improvement, working across the whole responsible business agenda. From community engagement to employment, diversity and the circular economy, we offer expert advice and specialist resources, driving best practice by convening, sharing learning and recognising great performance across our influential network. www.bitc.org.uk