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The Sharpe Angle: Brookfield's big bet on the energy transition

Brookfield Asset Management announced that it raised a record $15 billion for its inaugural Global Transition Fund. This marks the world's largest private fund dedicated to the net zero transition, signaling that investors are still committed to establishing cleaner portfolios. However, some blame the trend toward ESG-investing for high energy inflation. Critics say the focus on clean energy has curbed investment in fossil fuels, which may have otherwise helped boost supply. Mark Carney, co-head of Brookfield's Global Transition Fund, says he does not subscribe to this critique. In an interview with CNBC's Leslie Picker, he explained what's driving inflation in gas prices and energy costs and weighed in on the state of U.S. monetary policy.
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