The former governor of the Bank of Canada and Bank of England, who currently serves as the firm’s vice-chair and head of transition investing, will lead the board of the new Brookfield Asset Management unit overseeing its sprawling portfolio of real estate, infrastructure and renewable power assets. The parent company will be renamed Brookfield Corp. (The Logic)

Talking point: The Toronto-based firm laid out plans to create the spinoff company earlier this year, saying it would sell a 25 per cent stake in the new publicly-traded asset management company, which it values at $80 billion. Carney, who also co-leads Brookfield’s $15-billion global transition fund, has advocated for higher renewable energy and cleantech investments to reduce dependence on fossil fuels, but has also faced criticism around Brookfield’s ESG accounting practices. Brookfield singled out its clean power portfolio in its latest letter to shareholders on Thursday, saying it “continues to widen its advantage over every other source of energy,” as traditional sources become increasingly costly. The company posted record capital inflows of $56 billion in the second quarter, and grew its total assets under management to $750 billion.