The Guardian’s Kalyeena Markotoff reports on Mark Carney’s most recent most excellent idea which suggests that pay be tied to climate goals. October 2020.
Former Bank of England governor Mark Carney has said banks should link executive pay to climate risk management, as part of efforts to align the finance industry with Paris climate goals.
Speaking at the UN Environment Programme Finance Initiative roundtable on Tuesday, the former central bank boss said lenders should – at the very least – be transparent over whether or not pay is being tied to climate targets.
He said banks must “have some interim objectives and targets that are disclosed. Ideally a governance process that’s clear in terms of … specific board-level governance and responsibility around managing climate risks and opportunities. Ideally, [there should be] some compensation link to that as well, or at least disclosure about whether it is there or not.”
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