Carney's UK Sovereign Wealth Experiment Ends in Failure
Prime Minister Mark Carney's concept of creating a sovereign wealth fund in Canada has already been attempted and failed in Britain. While serving as Bank of England governor, he launched the National Wealth Fund in 2024, which was also presented as a sovereign wealth fund.
The UK government based this initiative on a report compiled by the Green Finance Institute, where Carney was involved as a drafter.