Business

Mark Carney, ex-head of Bank of Canada and Bank of England, joins Brookfield Asset Management

Brookfield Asset Management has named Mark Carney as vice-chair and head of environment, social and governance, known as ESG, as well as impact fund investing.

Carney is currently UN special envoy for climate action and finance

Brookfield says the former governor of the Bank of Canada and Bank of England brings a wealth of knowledge and expertise to the role of vice-chair and head of ESG and impact fund investing. (Kirsty Wigglesworth/The Associated Press)

Brookfield Asset Management has named Mark Carney as vice-chair and head of environment, social and governance, known as ESG, as well as impact fund investing.

Carney is currently the United Nations special envoy for climate action and finance.

Brookfield said the former governor of the Bank of Canada and Bank of England brings a wealth of knowledge and expertise to the role.

Carney has long been an advocate calling for action on climate change.

Brookfield said he will work on the development of a group of funds that will combine positive social and environmental outcomes with strong risk-adjusted returns.

Brookfield is an alternative asset manager with approximately $550 billion US of assets under management.

"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," Brookfield chief executive Bruce Flatt said in a statement.

"Mark's insights and perspectives will add tremendous value to our global investing activities for the benefit of our investors."

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