In an interview with BBC Radio 4, the outgoing Bank of England governor gave his starkest warning yet, urging all companies and financial institutions to present their climate plans and justify their continued investment in fossil fuels, warning that “a substantial proportion of those assets are going to be worthless.” (BBC Radio 4)

Talking point: Carney, who will serve as the United Nations’ special envoy for climate action and finance starting next year, appeared on a special edition of the program guest-edited by climate activist Greta Thunberg. Under Carney’s leadership, the Bank of England launched a “stress test” to determine which firms and sectors would be worst hit by climate change, the first results of which will be released in 2021. The financial world has made some big climate-decisions in recent weeks, with investment bank Goldman Sachs scrapping future funding for oil drilling or exploration in the Arctic earlier this month, joining a similar commitment by the European Investment Bank in November. Nonetheless, Carney said, the financial world is “not moving fast enough,” saying governments and financial markets have between two and 10 years to make meaningful climate-conscious investment decisions.