Former Bank of Canada and Bank of England Governor Mark Carney has a new job.
Brookfield Asset Management (TSX:BAM.A) has named Carney 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 central bank governor brings a wealth of knowledge and expertise to the role. Carney has long been an advocate 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 U.S. 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 Officer Bruce Flatt said in a written statement. "Mark's insights and perspectives will add tremendous value to our global investing activities for the benefit of our investors."
