Former Bank of England Governor Mark Carney has been appointed to oversee green investment at global investment firm Brookfield Asset Management.
His role as Vice Chair and Head of ESG (Environmental, Social and Governance) and Impact Fund Investing means he will work on the development of a group of funds that will ensure positive and environmental outcomes with strong investment returns.
Brookfield Asset Management has around $550 billion (£415bn) in assets under management and nearly 20,000MW of renewable projects in operation and 18,000MW in development globally.
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.
“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.”
Mr Carney served as Bank of England Governor from 2013 to 2020 and is currently the UN Special Envoy for Climate Action and Finance.
He 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.”