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UPDATE 1-Ex-BoE Governor Carney to head green investments at Canadian asset manager Brookfield

Wed, 26th Aug 2020 16:07

(Adds detail)

By David Milliken

LONDON, Aug 26 (Reuters) - 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 Britain's central
bank in March.

Carney, 55, who was governor of the Bank of Canada from 2008
to 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 in a statement announcing Carney's
appointment.

The appointment comes just a week after Canadian prime
minister Justin Trudeau appointed his close ally and deputy
Chrystia Freeland as finance minister.

Previously Carney had been giving Trudeau advice on economic
policy, in addition to his role as a United Nations special
envoy on climate change and finance, and helping Britain's
government prepare for a U.N. climate summit next year.

While at the BoE, Carney was one of the world's best paid
central bankers with remuneration of 882,885 pounds ($1.16
million) including pension benefits and a housing allowance
during the last financial year.

Carney will be a vice chair 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," he said.

Brookfield manages around $550 billion of assets, including
commercial property, hydroelectric dams and wind farms, as well
as a large Australian port focused on coal exports and western
Canada's biggest natural gas processing plant.
(Reporting by David Milliken; editing by Stephen Addison)

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