(Bloomberg) -- Mark Carney, the former central banker who now heads impact investing at Brookfield Asset Management Inc., expects listed companies to embrace net-zero carbon emissions plans in the coming years.
“I would say with a pretty high degree of confidence that in the next three years a net zero commitment and a plan to achieve it will be the norm for public companies,” Carney, the former Bank of England governor, said during Brookfield’s investor day on Tuesday.
Financial firms that manage portfolios worth $88 trillion have already committed to that goal as of July, an 18-fold increase over the last 18 months, Carney said. “We will get this to a $100 trillion and counting,” he said, adding that “a third to 40%” of all global financial assets will be linked to a net-zero objective.
Carney joined Brookfield earlier this year to help lead its entry into impact investing. Last month, Brookfield said it had raised $7 billion for the initial close of a new fund that will help businesses cut their carbon emissions.
Overall, the Toronto-based alternative asset manager plans to gather as much as $12.5 billion for the Brookfield Global Transition Fund, which would make it the largest of its kind to date as it pursues a growing list of opportunities.
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