(Bloomberg) -- The economic rebound has the potential to “broaden out” and the progress that countries make at the COP26 summit will fuel the economy in the medium term, according to former central banker Mark Carney.
There are investment opportunities of up to $2.5 trillion a year -- the equivalent to 2 percentage points of global gross domestic product -- in energy infrastructure, which will boost growth, Carney said Thursday in an interview with Bloomberg Television.
Carney stepped down from the Bank of England in March 2020 after serving almost seven years as the central bank's first foreign governor. Rather than returning to his career in investment banking, the former Goldman Sachs Group Inc. financier has since devoted his time to tackling climate change.
He has advised U.K. Prime Minister Boris Johnson ahead of next month's COP26 summit of world leaders and, in his work for the United Nations, is spearheading the Glasgow Financial Alliance for Net Zero, which commits 160 companies responsible for $70 trillion in assets to abolish their emissions by 2050.
Carney also joined investment giant Brookfield Asset Management Inc. last year to help lead its entry into impact investing and said at their investor day earlier this week that he expects listed companies to embrace net-zero carbon emissions plans in the coming years.
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