Chancellor Rachel Reeves said the fund will “immediately” start funding projects to help decarbonize Britain’s heavy industry. The fund aims to attract another £20 billion in private funds for low-carbon investments. (Financial Times)

Talking point: Mark Carney—former central bank governor of both England and Canada, and now chair of Brookfield Asset Management and its head of transition investing—was part of an 11-member task force that led the initiative, acting in a “personal capacity.” Canadian pension funds CPP Investments and Ontario Teachers’ Pension Plan are credited as “wider contributors” to the scheme. Reeves said the fund would operate as a “concierge service” for investors and businesses that want to participate in the British market. It’s part of the newly elected Labour government’s push for  the private sector to build large infrastructure projects in the country.