Mark Carney’s green investment funds at Brookfield Asset Management have come under scrutiny for using a Bermuda tax haven to attract investors. Reports suggest that the funds, established to support sustainable projects, utilized the offshore jurisdiction, which is often criticized for its favorable tax policies.
Carney, the former Bank of England governor and a prominent advocate for climate finance, has faced questions regarding the ethical implications of using tax havens while promoting green initiatives. Brookfield has defended the move, stating that the structure complies with international regulations and is commonly used to attract global capital.
Critics argue that using offshore tax jurisdictions contradicts the principles of responsible investing and climate leadership. However, supporters claim that such financial strategies are necessary to mobilize large-scale investments in clean energy and sustainable infrastructure.
As the debate continues, Carney and Brookfield are likely to face increased scrutiny from regulators and environmental groups. The controversy highlights the complexities of balancing financial growth with environmental responsibility in the global green finance sector.