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“We want action on financing,” Carney said of the goals in his new role with the UN leading up to November’s COP 26 climate conference in Glasgow.

Michael Tims, vice-chairman of Calgary-based Matco Investments, says he’s concerned longer-cycle investments in the oilsands or in LNG projects could be under pressure from Carney’s policies.

“Mark Carney is a thoughtful person so I want to listen closely to what he has to say,” Tims said in an interview.

The shorter-cycle investments in shale oil and gas plays, for example, which pay back their investments in under five years, could escape the kind of investor scrutiny that Carney is advocating, while longer-cycle investments such as in the oilsands, in pipeline projects and LNG export facilities could be affected.

“The harder part is to try to rationally assess what the implications are to value for longer-horizon projects,” Tim said.

Tims noted that investors are demanding more and more disclosure from energy companies on environmental performance. But as more data is being collected and disclosed, financial institutions are struggling to properly evaluate the differences between different types of reserves, different types of assets and climate risks across the sector.