The National Post reports in its Friday, May 10, edition that former Bank of Canada governor Mark Carney was invited as a witness to a Senate committee to study Bill S-243, which would require banks and other federally regulated entities to "mitigate and adapt to the impacts of climate change." The Post's Catherine Levesque writes that during the committee meeting, Conservative senators attempted to question Mr. Carney on the federal government's carbon pricing policy and overall spending. Despite the limited time available, Mr. Carney shared his opinion on the carbon tax policy, stating that it has served its purpose until now. He also called for anyone proposing to scrap it to provide a "credible and predictable" alternative. Mr. Carney, who serves as the UN's Special Envoy for Climate Action and Finance, emphasized the need for new climate policies that are not only more effective than the carbon tax but can also drive investment in a massive way. He said: "What's critical in my view is that if something is going to be changed, that something at least as good is put in its place. Ideally, if you're going to change something, you put in place something better that still has that credibility and predictability."