NET-ZERO PLAN TO BE ‘NORM’ FOR PUBLIC COMPANIES SOON

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 US$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 US$100 trillion and counting,” he said, adding that “a third to 40 per cent” of all global financial assets will be linked to a net-zero objective.