Canada's Liberal Party has selected a new leader who will soon take over as prime minister from Justin Trudeau. But if you're asking yourself, "Who is Mark Carney, and does he know anything about plastics and the value of the dollar?" the answer appears to be yes.
As the governor of the Bank of Canada — essentially the equivalent of the head of the U.S. Federal Reserve — Carney oversaw the adoption of polymer banknotes there in the early 2010s. Then he went on to lead the Bank of England from 2013 to 2020 where he led the introduction of polymer bank notes in the United Kingdom.
He touted the switch at that time as providing bank notes that were cleaner, more secure and more durable.
"Our job is to ensure that the banknotes people use are high quality and genuine. We also recognize that banknotes are an important national symbol and a source of national pride," Carney said while introducing the plastic cash to the British public. "These advantages mean that a switch to polymer is a natural step in the evolution of banknote design."
Carney also has served as a United Nations special envoy for climate action and finance, where he has stressed the need for companies to pursue "net zero" targets to reduce their environmental footprint.
