Brookfield Asset Management has appointed former Bank of England governor Mark Carney as a vice chair and head of ESG and impact fund investing.
In his new role Carney will help build on Brookfield’s ESG investments by establishing a new group of funds that will seek to make a positive impact socially and environmentally while also delivering investors “strong” risk-adjusted returns.
“Throughout his stellar career in both the private and public sectors, Mark has been a vocal proponent of the positive role that private capital can play in climate action,” Bruce Flatt, chief executive of Brookfield, said.
“Building on our track record in renewable investing, Mark will help accelerate our efforts to combine better long-term outcomes for society with strong risk-adjusted returns. Mark’s insights and perspectives will add tremendous value to our global investing activities for the benefit of our investors.”
Currently the United Nations special envoy for climate action and finance, Carney previously served as governor of the Bank of England from 2013 to 16 March 2020. He will continue in his role with the UN.
Carney has also served as first vice-chair of the European Systemic Risk board and remains a member of the Group of Thirty and the foundation board of the World Economic Forum.
Prior to heading up the Bank of England, Carney was governor of the Bank of Canada and chairman of its board.
In addition, he was chair of the G20’s financial stability board from 2011 to 2018.
Carney said: “With an accelerated transition to a net zero economy imperative for climate sustainability and one of the greatest commercial opportunities of our time, I’m looking forward to building on Brookfield’s leading positions in renewable energy and sustainability to the benefit of its investors and society.”
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
