Central bankers will not drive the transition to a lower-carbon economy, but have a "clear interest" in ensuring the financial system is well-placed to adjust, if and when it comes, Bank of England governor Mark Carney said on September 29.

In a rare example of a central banker addressing climate change head on, Carney spelt out the risks it poses to financial stability in his speech at Lloyd's of London – as well as the costs of addressing it.

He argued these risks could be minimised if the