Brookfield Announces Appointment of Mark Carney as Vice Chair and Head of ESG and Impact Fund Investing

Former Governor of the Bank of England and Bank of Canada to oversee the firm’s ESG-focused investment strategies

BROOKFIELD, NEWS, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Brookfield Asset Management (NYSE: BAM) (TSX: BAM.A) today announced the appointment of Mark Carney as a Vice Chair and Head of ESG and Impact Fund Investing. Mark brings a wealth of knowledge and expertise to his role at Brookfield. He is currently the United Nations Special Envoy for Climate Action and Finance and is a longtime advocate for sustainability, specifically with regard to the management and reduction of climate risks.

Mark will expand on Brookfield’s existing strengths in ESG investing with the development of a group of funds that will work to combine positive social and environmental outcomes with strong risk-adjusted returns for investors. The funds will make ESG-focused investments that are both capable of delivering measurable outcomes against specific impact goals and consistent with Brookfield’s extensive experience investing in high-quality, sustainable assets that form the backbone of the global economy.

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.” Mr. Flatt continued, “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.”

Mark Carney remarked, “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.”

This appointment is another step in Brookfield’s longstanding commitment to sustainability, with ESG principles embedded across the investment process and operations of its businesses. Brookfield 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 responsibly owns and operates, high-quality renewable power assets that provide virtually carbon free energy around the world.