Key Speakers At The Brookfield Asset Management Inc. Annual General Meeting Photo: Bloomberg

Canada’s Brookfield Asset Management said on Monday it had raised $10 billion in the first closing of its second “Brookfield Global Transition Fund (BGTF II)” that focuses on investments in the global transition to a net zero economy.

With rising CO2 emissions and warming temperatures, economies across the globe has increased their efforts to transition to a net-zero economy, which has boosted appeal of such investment funds.

The fund is co-headed by Mark Carney and Connor Teskey, and focuses on investments to accelerate the global transition to a net-zero economy. Carney is also a United Nations special envoy on climate action and finance.

The fund is the successor of the inaugural Brookfield Global Transition Fund (BGTF I), which closed on a record $15 billion.

Reuters