Car­ney takes green in­vest­ment po­si­tion at Canada’s Brook­field

The Daily Telegraph - Business - - Business - Daily Tele­graph Re­porter By

FOR­MER Bank of Eng­land gover­nor Mark Car­ney is join­ing Cana­dian as­set man­age­ment com­pany Brook­field to head its green in­vest­ment pro­gramme in his first ma­jor busi­ness role since leav­ing Thread­nee­dle Street in March.

Mr Car­ney, 55, who was gover­nor of the Bank of Canada for five years un­til 2013 and started his ca­reer at Gold­man Sachs, reg­u­larly spoke on en­vi­ron­men­tal is­sues while at the BoE and en­cour­aged banks to take a greater in­ter­est in the risks from global warm­ing.

“Mark has been a vo­cal pro­po­nent of the pos­i­tive role that pri­vate cap­i­tal can play in cli­mate ac­tion,” Brook­field chief ex­ec­u­tive Bruce Flatt said. Mr Car­ney had been giv­ing Justin Trudeau, the Cana­dian prime min­is­ter, ad­vice on eco­nomic pol­icy, in ad­di­tion to his role as a United Na­tions spe­cial en­voy on cli­mate change and fi­nance, and help­ing the Bri­tish Gov­ern­ment pre­pare for a United Na­tions cli­mate sum­mit next year.

He will be a vice-chair­man of Brook­field and over­see its en­vi­ron­men­tal, so­cial and gov­er­nance-fo­cused (ESG) in­vest­ment strate­gies.

“An ac­cel­er­ated tran­si­tion to a net zero econ­omy (is) im­per­a­tive for cli­mate sus­tain­abil­ity and one of the great­est com­mer­cial op­por­tu­ni­ties of our time,” Mr Car­ney said.

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