The Globe and Mail reports in its Friday edition that Canada is jeopardizing its competitive position by dragging its feet on major climate-related financial policies as allies quickly adopt global standards and green investing rule books, former Bank of Canada governor Mark Carney said on Wednesday. The Globe's Jeffrey Jones writes that Mr. Carney, who is also chair of Brookfield Asset Management, told a Senate banking committee that corporate sustainability standards published last year have already been endorsed by the international umbrella group for securities regulators and the global Financial Stability Board. Countries around the world are busy putting those disclosure standards into force, and coverage is expected to extend to more than 100,000 companies. "In contrast, Canadian climate disclosure efforts have been patchwork, delivered late and falling short of international standards," said Mr. Carney, who co-chairs a global alliance of financial institutions that have pledged to direct investments to furthering the transition to a low-carbon economy. Canada's slow progress in building a sustainable financial system puts it at risk of losing investment and the job creation it fuels, he said.