Stockholm (NordSIP) – During his tenure as Governor of the Bank of England, Mark Carney was a leading force for integrating climate change concerns into financial market analysis and monetary policy, culminating with the establishment of the Task Force on Climate-related Financial Disclosures (TFCD) in December 2015. According to an August 26th announcement by Brookfield Asset Management, the retired central banker will join the asset manager as its newest Vice-Chair and Head of ESG and Impact Fund Investing. Carney, who is currently the UN Special Envoy for Climate Action and Finance, will be responsible for the development of a group of funds that will work to combine positive social and environmental outcomes with strong risk-adjusted returns for investors.
“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,” Bruce Flatt, CEO 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,” Flatt added.
“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,” Mark Carney remarked.
According to Brookfield, the asset manager has built the world’s largest pure-play private sector renewable energy business over the past three decades. With nearly 20,000 megawatts in operations and 18,000 megawatts in development globally, Brookfield invests in, and owns and operates, high-quality renewable power assets that provide virtually carbon-free energy around the world.
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