Brookfield Asset Management Inc. is appointing Mark Carney as vice-chair and head of environmental, social and governance and impact fund investing.

Carney is currently the United Nations’ special envoy for climate action and finance, and was formerly governor of the Bank of Canada and the Bank of England. He has long advocated for action on climate change.

Read: CPPIB and Brookfield compete to acquire Australian company

In the new role, he’ll work on the development of a group of funds that will combine positive social and environmental outcomes with strong risk-adjusted returns, according to Brookfield. “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,” said Bruce Flatt, the investment manager’s chief executive officer, in a statement.

“Mark’s insights and perspectives will add tremendous value to our global investing activities for the benefit of our investors.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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