Mark Carney’s involvement with Brookfield Asset Management began in 2020 when he joined as Vice Chair and Head of ESG and Impact Fund Investing. He played a key role in developing funds focused on environmental, social, and governance (ESG) issues, aiming to combine positive social and environmental outcomes with strong risk-adjusted returns. ¹ ² ³
Some of his notable work includes:
– *Brookfield Global Transition Fund*: Co-led by Carney and Connor Teskey, this fund focuses on investments accelerating the global transition to a net-zero carbon economy, with a hard cap of $12.5 billion.
– *Renewable Energy Investments*: Brookfield, under Carney’s guidance, has invested in solar panels, wind turbines, and other renewable energy projects.
– *Sustainable Business Practices*: Carney has advocated for sustainable business and investing practices, emphasizing the importance of ESG considerations.
Carney resigned from Brookfield in January 2025 to pursue a career in politics, becoming the Prime Minister of Canada. There have been concerns raised about potential conflicts of interest regarding his involvement with Brookfield and government decisions. ⁴ ⁵ ⁶
– *Founding*: Brookfield was founded in 1899 as São Paulo Tramway, Light and Power Company by William Mackenzie and Frederick Stark Pearson, initially investing in infrastructure in Brazil and Canada.
– *Name Change*: The company changed its name to Brookfield Asset Management in 2005, and later to Brookfield Corporation in 2022.
– *Global Presence*: Brookfield operates in over 30 countries, with headquarters in Toronto and New York City.
– *Assets Under Management*: Brookfield manages over $1 trillion in assets, making it one of the world’s largest alternative asset managers.
– *Investment Focus*: The company invests in real estate, infrastructure, renewable energy, private equity, and credit markets.
– *Notable Investments*: Brookfield has invested in companies like Intel, Westinghouse Electric, and Oaktree Capital Management.
– *Sustainability*: Brookfield aims to achieve net-zero emissions by 2050 and has invested in renewable energy projects.
– *Leadership*: Mark Carney, former Governor of the Bank of England, served as Vice Chair and Head of ESG and Impact Fund Investing until January 2025.
– *Revenue*: Brookfield reported earnings of $3.584 billion in 2018, with annual revenue of $56.771 billion.
– *Employees*: The company has over 150,000 employees worldwide. ¹ ² ³
Some more interesting facts:
– *Early Beginnings*: William Mackenzie, one of the founders, started as a teacher and politician before entering the railway business.
– *Partnerships*: Brookfield has partnered with companies like Microsoft and Intel on large-scale projects.
– *Diversification*: The company has expanded its portfolio through strategic acquisitions and investments. ⁴ ⁵
Here are some more incredible bits of trivia about Brookfield:
1. *Early Expansion*: Brookfield expanded into Canada in the early 1900s, investing in hydroelectric power and railways.
2. *São Paulo Tramway*: The company’s first major project was building the São Paulo Tramway, Light and Power Company in Brazil.
3. *William Mackenzie’s Legacy*: Mackenzie was knighted in 1911 for his contributions to Canadian infrastructure development.
4. *Brookfield’s Headquarters*: The company’s global headquarters is located in Brookfield Place, Toronto, a iconic skyscraper.
5. *Investment Portfolio*: Brookfield’s portfolio includes iconic properties like the Empire State Building and the London’s Canary Wharf.
6. *Renewable Energy*: Brookfield has invested in over 200 renewable energy projects globally.
7. *Partnerships*: Brookfield has partnered with companies like Google and Amazon on renewable energy projects.
8. *Private Equity*: Brookfield’s private equity arm has invested in companies like Cheniere Energy and Genworth Financial.
9. *Real Estate*: Brookfield owns and manages over 400 million square feet of commercial real estate globally.
10. *Infrastructure*: Brookfield has invested in critical infrastructure like ports, toll roads, and airports.
11. *Awards*: Brookfield has received numerous awards for its sustainability initiatives and corporate governance.
12. *Global Reach*: Brookfield operates in over 30 countries, with a presence in emerging markets like India and China.
13. *Employee Engagement*: Brookfield has been recognized for its employee engagement and diversity initiatives.
14. *Philanthropy*: The company has donated millions to charitable causes, including education and environmental conservation.
15. *Innovation*: Brookfield has invested in innovative technologies like smart buildings and energy storage solutions.
16. *Mark Carney’s Role*: Mark Carney joined Brookfield in 2020 as Vice Chair and Head of ESG and Impact Fund Investing.
17. *ESG Focus*: Brookfield has committed to achieving net-zero emissions by 2050 and has set interim targets.
18. *Sustainable Investing*: Brookfield has launched several sustainable investment funds, focusing on renewable energy and climate change.
19. *Industry Recognition*: Brookfield has been recognized as one of the world’s most sustainable companies.
20. *Brookfield’s History*: The company has navigated several economic downturns, including the Great Depression and the 2008 financial crisis.
21. *Expansion into Asia*: Brookfield has expanded its presence in Asia, investing in countries like China and India.
22. *Renewable Energy Capacity*: Brookfield has over 10,000 megawatts of renewable energy capacity globally.
23. *Partnership with Microsoft*: Brookfield has partnered with Microsoft on several renewable energy projects.
24. *Brookfield’s Growth*: The company has grown significantly through strategic acquisitions and investments.
25. *Leadership Team*: Brookfield’s leadership team includes experienced professionals with expertise in finance and infrastructure.
26. *Global Network*: Brookfield has a global network of professionals with local market expertise.
27. *Risk Management*: The company has a robust risk management framework to mitigate market risks.
28. *Corporate Governance*: Brookfield has a strong corporate governance framework, with a diverse board of directors.
29. *Shareholder Value*: Brookfield has delivered strong shareholder value through dividend growth and share price appreciation.
30. *Community Engagement*: The company engages with local communities, supporting initiatives like education and healthcare.
31. *Environmental Stewardship*: Brookfield has implemented initiatives to reduce its environmental footprint.
32. *Diversity and Inclusion*: The company has launched initiatives to promote diversity and inclusion in the workplace.
33. *Industry Associations*: Brookfield is a member of industry associations like the Global Real Estate Sustainability Benchmark.
34. *Research and Development*: The company invests in research and development, exploring new technologies and innovations.
35. *Awards and Recognition*: Brookfield has received numerous awards for its sustainability and corporate governance initiatives.
36. *Global Tax Contribution*: Brookfield contributes significantly to global *tax revenues*.
37. *Employee Development*: Brookfield has programs to support employee development and growth.
38. *Sustainability Reporting*: The company publishes annual sustainability reports, detailing its progress.
39. *Industry Leadership*: Brookfield is recognized as a leader in the alternative asset management industry.
40. *Global Partnerships*: Brookfield has partnerships with governments, institutions, and companies globally.
41. *Renewable Energy Targets*: Brookfield aims to increase its renewable energy capacity to 200,000 megawatts by 2030.
42. *Brookfield’s History in Brazil*: The company’s early success was driven by its investments in Brazil’s infrastructure.
43. *Infrastructure Investments*: Brookfield has invested in critical infrastructure like transportation and energy systems.
44. *Real Estate Portfolio*: Brookfield’s real estate portfolio includes iconic properties like the Flatiron Building.
45. *Private Equity Investments*: Brookfield’s private equity arm has invested in companies like Hilton Worldwide.
46. *ESG Integration*: Brookfield integrates ESG considerations into its investment decisions.
47. *Climate Change*: Brookfield has committed to reducing its carbon footprint and supporting climate change mitigation efforts.
48. *Global Team*: Brookfield’s team includes professionals with diverse skills and expertise.
49. *Community Development*: The company supports community development initiatives, focusing on education and healthcare.
50. *Awards for Excellence*: Brookfield has received awards for its excellence in asset management and sustainability.
In the late 19th century, two visionary Canadians, George W. Ross and William Mackenzie, laid the groundwork for what would become one of the world’s largest alternative investment management companies: Brookfield Asset Management.
*The Founding Fathers*
George W. Ross, a shrewd entrepreneur, and William Mackenzie, a brilliant engineer, joined forces to establish the Brazilian Traction, Light and Power Company in 1899. Their mission was to bring electricity and modern infrastructure to Brazil, a country on the cusp of rapid industrialization. This bold venture marked the beginning of Brookfield’s remarkable journey.
*Early Years: Building a Foundation*
The early 20th century saw Brookfield’s founders expand their operations, applying their expertise to develop infrastructure and real estate projects in Canada and beyond. The company’s success was fueled by the growing demand for electricity, transportation, and urban development. As the decades passed, Brookfield’s portfolio diversified, and its influence grew.
*The Railway Connection: A Nation Takes Shape*
Meanwhile, Sir John A. Macdonald, Canada’s first Prime Minister, was driving a monumental project: the Canadian Pacific Railway (CPR). Completed in 1885, the CPR transformed Canada’s economy, connecting the east and west coasts and facilitating trade, commerce, and settlement. The railway’s impact was profound, creating opportunities for entrepreneurs like Ross and Mackenzie to build their businesses.
*A Legacy Takes Root*
As the 20th century progressed, Brookfield continued to evolve, adapting to changing market conditions and expanding its reach. The company’s focus on real estate, infrastructure, and asset management positioned it for success in the decades to come. Today, Brookfield is a global powerhouse, with over $900 billion in assets under management.
The story of Brookfield is one of vision, perseverance, and innovation. From its humble beginnings in Brazil to its current status as a global leader, Brookfield’s journey is a testament to the power of Canadian ingenuity and entrepreneurship.
Mark Carney was indeed associated with Brookfield Asset Management, serving as Vice Chair and Head of ESG and Impact Investing from 2020 until his departure in 2025 to pursue a career in politics. During his tenure, he focused on sustainable finance and transition investment strategies, including the launch of the Brookfield Global Transition Fund, one of the world’s largest private climate-focused funds. ¹ ² ³
Brookfield Asset Management is a global investment firm headquartered in Toronto, with over $900 billion in assets under management. They’re heavily invested in renewable energy, including wind, solar, and battery storage solutions, with projects in Southeast Asia, Europe, and the Americas. ⁴ ⁵ ⁶
