Brookfield raises $15 bln for climate-focused fund

June 22 (Reuters) – Canada’s Brookfield Asset Management (BAMa.TO), said on Wednesday it had raised $15 billion for its fund focused on the global transition to a net-zero carbon economy.

The fundraise comes at a time when investors and lawmakers across the globe have been questioning businesses about their environmental and social impact amid calls for companies to lower their greenhouse gas emissions.

The Brookfield Global Transition Fund will target investments tied to reducing greenhouse gas emissions and energy consumption, the company said.

Brookfield said the fund, in which it is the biggest investor, drew commitments from over a 100 others, including sovereign wealth funds, insurance companies as well as public and private pension plans.

The fund has already deployed around $2.5 billion of capital, Brookfield said.

The fund will also focus on other sustainable investment opportunities, including those related to increasing low-carbon energy capacity, Brookfield added.

Reporting by Niket Nishant in Bengaluru; Editing by Amy Caren Daniel

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