How material is climate change for the financial community? 04/25/2017 In November 2015 The Bank of England governor, Mark Carney, delivered a stark warning detailing the various risks global markets and the financial community face as a result of a changing climate. He called climate change the “tragedy of the horizon”. Earlier this year the World Economic Forum stressed the same point. Climate change and related issues are in the top five most impactful risks and top ten most likely risks for the global economy.