Brookfield Asset Management’s renewable power company Brookfield Renewable announced that it has appointed Connor Teskey to be its new CEO. The company also announced that Mark Carney has been named a Vice Chair of Brookfield Renewable, in addition to his role as Vice-Chair and Head of ESG and Impact Fund Investing at Brookfield.

Teskey joined Brookfield in 2012 as a member of the Private Equity Group. He most recently served in the role of Managing Partner and Chief Investment Officer of Brookfield Renewable, with responsibility for investment origination, analysis and execution across the business.

Carney, formerly the Governor of the Banks of Canada and England, joined Brookfield in August. He is one of the finance and investment industry’s most prominent advocates for climate action, and for sustainable business and investing practices. He currently serves as the UN Special Envoy for Climate Action and Finance, and is the UK Prime Minister’s Finance Adviser for the COP26 UN Climate Change Conference. Additionally, he is a member of the Group of Thirty and the Foundation Board of the World Economic Forum. He was also recently named to fixed income investment manager PIMCO’s Global Advisory Board

Teskey takes over the CEO role from Sachin Shah, who has been appointed Chief Investment Officer for Brookfield Asset Management. Shah will continue to be responsible for Brookfield’s renewable power activities for the firm’s private funds, and will also be a Vice Chair of Brookfield Renewable.

Bruce Flatt, CEO of Brookfield Asset Management, said:

“With Brookfield Renewable now one of the largest renewable electricity generators and developers in the world, we continue to plan for new areas of growth. These appointments will help us move to the next phase of expansion, helping governments and corporations meet their renewable power and energy transition targets and driving decarbonization initiatives around the world.”