Mark Carney joins Brookfield to launch ESG

Canada: Mark Carney, the former governor of the Bank of England, has been appointed as vice chair and head of ESG and impact fund investing at Brookfield Asset Management.

Carney will be responsible for expanding on Brookfield’s existing ESG investing, and will develop a group of funds that combines positive social and environmental outcomes with strong risk-adjusted returns for investors.

He served as the governor of the Bank of England from 2013 to 2020, as well as the first vice-chair of the European Systemic Risk Board. Prior to this, Carney served as the governor of the Bank of Canada and chairman of its board of directors. He will remain a member of the Group of Thirty and the Foundation Board of the World Economic Forum. 

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.”

Bruce Flatt, CEO of Brookfield, added: “We are excited to have Mark joining Brookfield. 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. 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.”

Brookfield Asset Management is a global alternative asset manager with approximately US$550 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses.

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