Canada’s Brookfield Asset Management said on June 22 it had raised $15 billion for its first impact 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.

In the first five months of this year, investors added $7.5 billion to U.S. sustainable funds including those focused on ESG considerations, after putting a record $69.2 billion of net new deposits into such funds in 2021.

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 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.

“Our investment partners are looking for an experienced investor who can guide their contribution to what is both a critical requirement and a major global opportunity,” said Connor Teskey, who co-heads the fund along with Mark Carney, Brookfield’s head of transition investing and a former governor of the Bank of England.

Brookfield Asset Management has $725 billion in assets under management, including $65 billion in its renewable power business, which is overseen by Teskey.