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jerryking : mark_carney   20

Carney, Bloomberg press for climate-change risk disclosure guidelines - The Globe and Mail
SHAWN MCCARTHY
OTTAWA — The Globe and Mail
Published Friday, Dec. 04, 2015

Mr. Bloomberg will lead a task force that will develop voluntary financial risk disclosure guidelines that will ensure consistent information for investors, lenders, insurers and other stakeholders....In a speech this fall at Lloyd’s of London insurance firm, Mr. Carney highlighted three types of threats: physical, or impacts from weather-related events such as floods, droughts and storms; liability issues arising from investors suing companies for failing to disclose risks or parties who suffer loss claiming compensation from those they hold responsible, and transition issues in which assets – especially fossil fuel reserves – are revalued due to the transition to a low-carbon economy.
climate_change  risks  Mark_Carney  Michael_Bloomberg  liabilities  threats  financial_risk  disclosure  valuations 
december 2015 by jerryking
The governor gets his hands dirty - The Globe and Mail
SINCLAIR STEWART
The Globe and Mail
Published Wednesday, Aug. 26 2009

"The man leaving me in his dust exemplifies Flaubert's directive: "Be regular and orderly in your life, so that you may be violent and original in your work." Well, original at least."
Mark_Carney  Bank_of_Canada  central_banking  dual-consciousness  quotes 
february 2015 by jerryking
Bar is high for Carney on world stage
Apr. 18 2013| The Globe and Mail |CHRYSTIA FREELAND.

One of the analytical mistakes made before the financial crisis was to believe that efficient markets were perfect and that private bankers could police themselves. Refreshingly, Mr. Carney isn’t making the same error in reverse. He is a believer in regulation and has embraced it at its most complex, global, scale.

But he said regulators need to be watchful of the unintended consequences of their rules and mindful of the feedback loops between their actions and private markets. The relationship between markets and governments is a complicated process that requires eternal vigilance and constant tweaks.
Chrystia_Freeland  Mark_Carney  central_banking  central_banks  regulators  feedback_loops  unintended_consequences  world_stage 
april 2013 by jerryking
True innovation doesn’t flow from a pipeline
Feb. 22 2013 | The Globe and Mail |Konrad Yakabuski.

... If the oil companies can’t ship raw Canadian resources using that 150-year-old technology, they will rely on an even older one – rail. And if not rail, they might just float their bitumen on barges down the Mississippi.

Huckleberry Finn might have marvelled at this inventiveness, but it doesn’t quite cut it as a 21st-century national strategy for wealth creation. Yet our frantic obsession with exporting minimally processed bitumen is sucking up all the oxygen in the national conversation. Getting Alberta’s oil to market is “the most important economic issue” facing the country, says former federal cabinet minister Jim Prentice. There is “no more critical issue facing Canada today,” adds Enbridge chief executive Al Monaco.

In fact, the most critical issue facing Canada today may just be figuring out why we find ourselves in this situation. Raw resources can be a tremendous source of income, but they are volatile, and we’ve always known that overreliance on them is a recipe for economic stuntedness. As Bank of Canada Governor Mark Carney says: “Real wealth is built through innovation.”

Innovation is not wholly absent from Canada’s oil patch. But it’s hardly a first line of business. You’d think it would be a top priority, given the vexatious characteristics of Alberta bitumen, the oil sands’ distressing environmental footprint and the Canadian industry’s growing global image problem. Even in boom times, however, the Canadian oil and gas industry spends a piddling proportion of its revenues on research and development......Last week, PricewaterhouseCoopers predicted that the coming boom in global shale oil production could slash the price of crude by $50 (U.S.) a barrel over the next two decades. “One effect will be to cut the need for expensive, environmentally destructive extraction techniques like the Arctic and tar sands,” the head of PwC’s oil and gas team told Reuters.... the real issue facing Ontario is its failure to make the shift from making low-tech goods to advanced manufacturing, the only kind that can support middle-class wages. Governments have showered the industry with tens of billions of dollars trying to make Canadian firms more innovative, to little avail. Cash-strapped and fed up, federal Finance Minister Jim Flaherty slashed R&D tax credits in last year’s budget. The result will be even less innovation, as domestic companies cut back and foreign-owned firms shift R&D elsewhere.

“Canada’s problem,” says Robert Atkinson, the author of Innovation Economics, “is that it’s not Germany, which has a much better engineering innovation system, and it’s not the U.S., which has a very good system of science-based entrepreneurship. You’re mediocre in both.”
Keystone_XL  pipelines  crossborder  oil_industry  Mark_Carney  Ontario  innovation  oil_patch  wealth_creation  books  natural_gas  natural_resources  fracking  shale_oil  hydraulic_fracturing  Konrad_Yakabuski  oil_sands  complacency  mediocrity  commodities  volatility  cash-strapped  national_strategies  environmental_footprint  science-based 
march 2013 by jerryking
Mark Carney: The man who speaks the truth - The Globe and Mail
Mark Carney: The man who speaks the truth
JEFFREY SIMPSON | Columnist profile | E-mail
From Wednesday's Globe and Mail
Published Wednesday, Dec. 14, 2011
Mark_Carney  Jeffrey_Simpson  Bank_of_Canada 
december 2011 by jerryking
Canadians must think beyond the U.S. market
Mar. 06, 2010 | Globe and Mail | Jeffrey Simpson. The U.S.
is burdening itself with debt, postponing days of fiscal reckoning. Huge
structural changes, meanwhile, are occurring in the world economy. The
challenge for Canadian business, Mr. Carney argued, is to move beyond
the cocoon of the North American economy.

He put the challenge squarely: “Canadian business will need to develop
new markets as the traditional advantage of relatively open access to
U.S. markets becomes less valuable. To seize new opportunities, our
productivity levels must improve."At issue is whether Canadian
businesses can think beyond the U.S. market. If not, Canada will be
missing most of the new economic action. It's a hard challenge for a
country with so many branch plants, so few head offices, so much
self-satisfaction, and a long tradition of looking only south.
crossborder  productivity  economic_development  growth  head_offices  Jeffrey_Simpson  international_marketing  international_trade  complacency  beyondtheU.S.  Mark_Carney  structural_change  internationally_minded 
april 2010 by jerryking

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