OTTAWA — Liberal Leader Mark Carney defended Wednesday putting two green investment funds in an offshore tax haven while an executive at investment house Brookfield Asset Management.

Carney told reporters at a campaign stop in Windsor, Ont., that the funds were registered in Bermuda to avoid double taxation.

“The important thing… is that the flow through of the funds go to Canadian entities who then pay the taxes appropriately. As opposed to taxes being paid multiple times before they get there,” said Carney.

The defence comes after Radio-Canada reported that two Brookfield funds personally overseen by Carney were registered in Bermuda, a well-known tax haven, according to relevant filings in the Ontario Business Registry.

The funds, registered in 2021 and 2023 respectively, were geared toward investments in green energy and infrastructure, holding combined assets of $25 billion.

Both funds were co-led by Carney, according to Brookfield press releases at the time.