Mark Carney, current Governor of the Bank of England, will join the UN in fighting climate change.
Carney will leave the bank on 31 January 2020.
He will take on the new role from next year, it was announced on Saturday.
The former envoy, Michael Bloomberg, stepped down in November.
What does this mean?
The announcement was made at the UN Climate Summit in Madrid, with UN Secretary-General Antonio Guterres citing Carney’s work in pushing the finance sector to impact climate change. Carney will be paid just 77p a year for the new role.