Thread by @ClementLiberty

🧵On Apr 17, 2024, Mark Carney, in his capacity as a co-chair of GFANZ, was deposed by staff members of the US House Judiciary Committee in their investigation into corporation adoption and imposition of ESG. Here are some takeaways

Carney's role as a UN Climate Finance Envoy and GFANZ co-chair was predicated on ensuring that firms would commit to net-zero policies to effectively decarbonize. He was active in pushing "carbon markets," putting a price on carbon emissions as a measurement of whether firms were adhering to the Paris Climate goals.

His stated goal was to "develop a common approach for transition plans for financial institutions"

"And the critical thing that that does is it incentivizes the financial institution to do what they do best, which is to think about, if I am funding, either through an investment or lending, a reduction in emissions, I'm taking a view on whether that will be successful"

He reveals his role in pressuring financial institutions to limit lending and funding of both capital and assets if they do not strictly adhere to the goal of limiting climate emissions.

He agrees with the statement that "more than half of the world's coal reserves need to stay in the ground in order for the world to be in line with Paris" climate accords

Carney mentions that a company that does not have a transition pathway to decarbonize is on the "wrong side of climate history"

He remains adamant that carbon prices are necessary commitments that every country must adopt in order to achieve the goals of Net-Zero.

As of April 2024, less than a year ago, he was not living in Canada. He was living in the UK as an advisor to the Prime Minister of the UK (his words)