Last year ended on a somber note for earth's climate: bush fire infernos raging in Australia; the COP 25 environmental negotiations in Madrid not securing concrete commitments; and Bank of England Governor Mark Carney warning that the financial system is not doing enough to avert a climate disaster.
Carney, who will soon assume the role of U.N. special envoy for climate action and finance, is right, and the irony is that these failures come when zeal among investors for climate and other reforms has never been greater. Yet it is largely the financial system that is letting them down.
