I wasn't sure what this was about, so rather than Google it and try make sense out of all the hits, I asked GROK AI. I have yet to completely digest it, but if I understand it, Carney wants the global financial system to fall in line with his Net Zero plan.
On the face of it, I don't like China having that kind of power over global finances. I also don't like that Carney is acting as point man for this. Letting these two fuck around with global finances in the name of climate change, environmental degradation, and social inequality reeks of ruin.
Redirecting capital flows toward environmentally friendly projects—like renewable energy or carbon-neutral infrastructure—while phasing out investments in fossil fuels and other high-emission industries sounds like an awful lot of work heading towards Brookfield.
That's just my layman's take on it.
NOTE THE DATE OF THE LINK.
The Grok narrative - Mark Carney, a prominent figure in global finance and former governor of both the Bank of Canada and the Bank of England, has been a vocal advocate for transitioning the world economy toward sustainability. When he refers to a "new, global, sustainable financial system," he is likely talking about a restructured financial framework designed to address climate change, environmental degradation, and social inequality. This vision aligns with his extensive work on green finance and his role as the UN Special Envoy for Climate Action and Finance, a position he held around 2021.
This "new system" isn't a single, concrete entity with a rulebook but rather a broad push to integrate sustainability into the core of global finance. It involves redirecting capital flows toward environmentally friendly projects—like renewable energy or carbon-neutral infrastructure—while phasing out investments in fossil fuels and other high-emission industries. Carney has emphasized the need for standardized climate risk disclosures (e.g., through initiatives like the Task Force on Climate-related Financial Disclosures, which he chaired), carbon pricing, and incentives for private-sector investment in green technologies.
The mention of China being "center stage" reflects its critical role as the world’s second-largest economy, a major emitter of greenhouse gases, and a leader in renewable energy investment. For this system to work globally, China’s participation is essential—both as a market influencer and as a policy driver. Carney likely sees China’s involvement as key to setting international standards, scaling sustainable investments, and ensuring emerging economies aren’t left behind in the transition.