BoC must accelerate climate efforts, new governor says

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Tiff Macklem, new governor of the Bank of Canada

The Bank of Canada must accelerate its efforts to prepare for the impact of climate change on the economy, new governor Tiff Macklem told lawmakers in his first public appearance.

Macklem replaced Steven Poloz as governor of the central bank just over two weeks ago. He used the hearing to signal his position on climate change, among other topics.

Macklem’s remarks and green credentials from past work suggest the central bank may now take a more forceful approach to the challenge.

“Climate

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