After months of speculation about his political ambitions, Mark Carney, the former governor of the Bank of Canada and the Bank of England, has announced his candidacy for leadership of Canada's ruling Liberal Party.

Carney officially launched his campaign Thursday at a hockey rink in his hometown of Edmonton, Alta., where he learned to skate as a child.

"I do this because Canada is the best country in the world, but it can still be better," Carney said, standing in front of a giant Canadian flag.

If he wins, the 59-year-old will succeed Prime Minister Justin Trudeau and lead the country into the next election, which will be held this year.

Earlier this month, Trudeau announced his intention to step down after nine years in power once a new Liberal leader is elected.

In Thursday's statement, Carney sought to stay true to his Canadian roots and distinguish himself from Trudeau and his political opponents.

While Carney most recently served as Trudeau's economic adviser, he is the only candidate in the Liberal leadership race who is not an elected member of Trudeau's government.

He cast himself as an outsider who brought a wealth of financial knowledge to an economically depressed country.

Under Liberal Party rules, any party member — including unelected officials — can run for leader. However, they are expected to seek parliamentary seats at the next election, which Mr Carney has said he intends to do.

In his speech to Canadians, Carney outlined the challenges facing the country, such as the housing affordability crisis, wage stagnation and the threat of climate change.

“Too many people are falling behind,” he said.

He also pointed to tariff threats from U.S. President-elect Donald Trump, who took office on Monday, saying Canada is facing extraordinary times.

Trump proposed imposing 25% tariffs on Canadian goods.

"I've helped respond to multiple crises and helped save two economies," Carney said. "I know how business works and I know how to make it work for you."

Mr. Carney was educated at Harvard and Oxford universities and brought a range of economic experience to the campaign.

He previously worked at investment bank Goldman Sachs and served as governor of the Bank of Canada from 2008, when Canada became the first G7 country to raise interest rates after the financial crisis, to 2013.

He then moved to London to serve as Governor of the Bank of England until 2020.

During his tenure, he led efforts to support the British economy through Brexit, although he faced criticism that some of his early interventions were too political.

Mr. Carney is also known as a champion of environmental sustainability. In 2019, he became the United Nations Special Envoy on Climate Change, and in 2021 he founded the Glasgow Net Zero Financial Alliance, an organization of banks and financial institutions committed to combating climate change.

Mr. Carney has advised Mr. Trudeau on economic issues in recent months. On Thursday, he criticized the current prime minister's handling of the document.

"I know I'm not the only Liberal in Canada who thinks the prime minister and his team are taking their focus away from the economy too often," Carney said.

Mr Carney's opponents in the Liberal leadership race include a number of sitting members of Parliament.

Former Treasury Secretary Chrystia Freeland is also expected to announce a bid in the coming days.

Freeland resigned from her post in December as Trudeau took a break from work to deal with Canada's fiscal affairs.

Whoever wins the Liberal leadership race will face off against the opposition Conservatives, who have a commanding lead in opinion polls. Their leader, Pierre Poilievre, advocated small government and a return to "common sense" politics.

Mr. Carney called Poliyev’s ideas about Canada “naïve” and “dangerous.”

Conservatives have sought to link Mr Carney to the unpopular Trudeau government, saying he is "just like Justin".

They also point out that he has been an advocate of carbon pricing, Trudeau's signature climate policy that has drawn mixed reactions in Canada.

Mr. Carney has advocated for a price on carbon but recently appeared to abandon the policy, telling a Senate committee in May that it had "served its purpose so far."

On Thursday, he said the carbon tax should be replaced with a policy that is "at least, if not more, if not more effective" for the climate without hurting Canadians' bottom line.

The Liberal Party is scheduled to elect its next leader on March 9.

The next Canadian election must be held on or before October of this year, possibly as early as this spring.