Brookfield aims to raise $7.5B for climate-focused fund – Bloomberg

Brookfield Asset Management Inc. is rolling out a climate-focused fund with a target of at least $7.5 billion amid rising interest in solutions to the global climate crisis, Bloomberg News reported.

The new Brookfield Global Transition Fund would inject capital into renewable power and other investments that help reduce carbon emissions.

The move comes as the Canadian investment firm seeks to expand its environmental, social and governance business.

The firm is bullish about the huge potential for climate investments as governments and corporations worldwide seek to achieve net-zero emissions, Brookfield Vice Chairman and Head of ESG and Impact Fund Investing Mark Carney reportedly said in an interview broadcast Feb. 10 at the Bloomberg Invest Talks virtual event.

If you turn climate change around, "it makes it the biggest commercial opportunity in the world," Carney was quoted by Bloomberg as saying.

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