Mark Carney joins Canada's Brookfield to launch ESG funds

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Mark Carney joins Canada's Brookfield to launch ESG funds

Mark Carney, the former governor of the Bank of England, has been hired by Toronto-based Brookfield Asset Management, where he will be responsible for developing a range of sustainable funds.

Carney said of his appointment: "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."

In December the UN appointed him as its special envoy on climate action and finance.

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, CEO of Brookfield, said, "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."

Flatt added: ""Mark will help accelerate our efforts to combine better long-term outcomes for society with strong risk-adjusted returns."

Carney was governor of the Bank of England from 2013 until earlier this year. His latest appointment marks 17 years since he last worked in the private sector, when he left Goldman Sachs to become governor of the Bank of Canada.

Brookfield has reported AuM of €550bn.

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.