The views expressed on this podcast are those of the participants, not of Rojers' News.

Some of the world's biggest investors, including Brookfield Asset Management and TPG, are launching

mega funds to invest in the global transition to a net zero economy in what could be the ultimate new asset class.

Plus, Beijing's crackdown on after-school tutoring.

Listen up.

Welcome to the Viewsroom.

I'm Rob Cox, the editor of Breaking Views, the financial commentary arm of Reuters News,

coming to you from the heart of Europe, Zurich, Switzerland.

This week saw two of the world's top investment managers

launch funds dedicated to the global transition to a net zero economy.

Brookfield Asset Management launched a $7 billion fund with backers, including Ontario,

Teachers' Pension Plan Board, and Singapore's Tomasek.

It will be co-led by former Bank of England boss and Brookfield Vice Chair Mark Carney,

who is also the UN's special envoy on climate action and finance, and it could raise up to

$12.5 billion in total. On the same day, investment firm TPG announced the first close of $5.5 billion

in subscriptions to its inaugural TPG-Rise climate fund with a hard cap of around $7 billion.

The goal for both is to invest in the decarbonization of the world's economy, including

industries that are traditionally dirty like steel, cement, and of course, transportation.

Our deputy editor, Richard Beals, says the more private sector money chasing investments

that could limit the damage to the planet, the less heavy lifting governments around

the world need to do with taxpayers' money.

So basically, it's a good thing.

...