Barclays announced today the establishment of a new Sustainable Banking Group within its Capital Markets business, bringing together the bank’s Sustainable Capital Markets and ESG Advisory teams, in a move aimed at addressing the sustainability needs of clients across industries.

According to Barclays, the newly formed business will combine its capabilities across M&A, Equity, Debt and Risk Management capabilities, offering clients with a tailored approach to coverage, advice and execution.

Travis Barnes, Global Co-Head of Capital Markets at Barclays, said:

“Combining the expertise of our superb sustainable capital markets team and ESG advisory businesses will enable us to better support clients’ ambitions to finance their sustainability and transition journeys.”

The new business will be led by Susan Barron and Cindy Quan, who have been appointed as Co-Heads of Sustainable Banking Group.

Barron has been with Barclays since 2010, most recently serving as Global Head of Sustainable Capital Markets. Quan joined the firm in 2023 from Goldman Sachs, and has been serving as Head of Americas ESG Advisory.

The establishment of the new business marks the latest in a series of moves by Barclays to expand its sustainable finance capabilities and teams, including the launch earlier this month of a new Energy Transition Group within its Corporate and Investment Bank. In 2022, Barclays announced a goal to facilitate $1 trillion of sustainable and transition financing between 2023 by the end of 2030. In July the company said that it has delivered over £87 billion ($112 billion) of green finance towards its goal to date.

Daniel Hanna, Global Head of Sustainable Finance at Barclays, said:

“We want to partner with our clients as they manage the opportunities and challenges of the transition to a low carbon future. Under Susan and Cindy’s leadership, we have created a single team that can work across all industries and our M&A, equity and debt capabilities. The combined teams will work closely with our newly formed Energy Transition Group and other teams such as Sustainable Project Finance to support clients to navigate market volatility and access the best solutions.”

Lazard Asset Management (LAM) announced the appointment of Evie Paterson as a Portfolio Manager/Analyst on Lazard’s global sustainable equity investment team.

In her new role, Paterson will help manage the Lazard Global Sustainable Equity strategy, an actively managed portfolio that invests in companies whose products and services support the transition to a more sustainable world and drive high or increasing financial productivity. She will be based in London.

Louis Florentin-Lee, Managing Director and Portfolio Manager on the Global Equities team at LAM said:

“As active managers, we are committed to our role as stewards of our clients’ capital. Evie’s sustainability expertise will greatly enhance our team and bring long-term benefits to our clients.”

Prior to joining LAM, Paterson served as Senior Research Analyst at Impax Asset Management, where she was responsible for generating new investment ideas for Impax’s environmental and sustainable equity strategies. In addition, she was a member of the portfolio construction teams for the $12 billion Global Opportunities strategy.

On LinkedIn, Paterson wrote:

“I am looking forward to working alongside Louis Florentin-Lee, Barnaby Wilson and the global research team, investing in financially productive companies whose products and services support the transition to a more sustainable world.”

Global private markets investment manager Flexstone Partners announced the appointment of Samira Boussem as Managing Director & Head of Sustainability, with responsibility for driving the firm’s sustainability strategy. based in France.

Flexstone is a majority owned affiliate of Natixis Investment Managers, providing investment management and advisory services across global private markets to institutional investors, with a focus on on lower, middle market buyouts, growth equity, and emerging managers in the US, Europe, and Asia.

Based in France, Boussem will lead Flexstone’s sustainability strategy and responsible investment approach, focusing on developing Flexstone’s in-house ESG investing framework, stewardship strategy, and product offering. She will report to Eric Deram, Managing Partner at Flexstone Partners.

Deram said:

“As Flexstone’s clients continue to develop sustainable investment strategies, we are thrilled to have someone as experienced and talented as Samira leading this effort. Samira not only brings a vast breadth of knowledge in the world of sustainable investing, but also leadership experience in the asset management industry as we continue to think about new and interesting ways to integrate sustainability into our investment practices.”

Boussem, who joined Natixis Group in 2005, has held several leadership positions with the organization, including most recently serving as Head of ESG at Natixis Investment Managers Solutions where she led all the ESG topics. She was also part of the Sustainable taskforce at Natixis Investment Managers, helping affiliates define their Sustainable journey, in line with the group ESG ambition. She has also worked as Senior Risk Manager within the investment bank and at Natixis AM and as a consultant within the Portfolio Consulting Group of Natixis Investment Managers helping clients in their portfolios’ construction.

In addition to her role at Flexstone, Boussem teaches Sustainable investing at Université Paris Dauphine—PSL.

Boussem said:

“Flexstone’s global reach presents a unique opportunity to make a positive impact and to lead on a variety of sustainability-related issues. I am excited to be working with Flexstone’s global team to drive impactful change, and to integrate the principles that both benefit our clients and also contribute to a more sustainable future for all stakeholders involved.”

Global climate consultancy the Carbon Trust announced today the appointment of UK Climate Change Committee Chief (CCC) Executive Chris Stark, as its new CEO, taking on the role from Tom Delay, who is stepping down after more than 2 decades.

Julia King Baroness Brown of Cambridge and Chair of the Carbon Trust’s Board said:

“Chris Stark has been a leader in the climate action space, both within the UK and globally. His approach has always been underpinned by a combination of pragmatism, integrity and openness. This is fully aligned with both the mission and values of the Carbon Trust, making Chris the right person to lead the organisation into its next stage of development.”

Stark joins the Carbon Trust after more than a decade advising UK governments, including 6 years at the CCC, serving as the UK’s chief climate change adviser, leading independent advice on the UK’s Net Zero target, and the development of multiple pathways to ensure the whole economy could meet this target, and as Director of Energy and Climate Change for the Scottish Government.

Stark will take up the appointment in Spring 2024.

Stark said:

“I’m delighted to join Carbon Trust. Tackling climate change is my life’s work and I believe the Carbon Trust will continue to play a key role in that mission. The organisation has been a climate pioneer over the last 20 years, driving innovation in climate solutions and providing practical support to businesses, governments, and financial institutions to accelerate decarbonisation.

“I’m excited to lead the organisation in the next phase and grow the Carbon Trust’s positive impact even further.”

Netherlands-based bank ABN AMRO announced today the appointment of Tanja Kramer as Head of the ABN AMRO Sustainable Impact Fund, with responsibilities including leadership of the fund as well as involvement in origination and execution activities.

Launched in 2021, the ABN AMRO Sustainable Impact Fund (SIF) makes direct investments in companies and early stage projects in key transition sectors, targeting key sustainability themes of circular economy, energy transition, and social impact. The fund has a commitment of €500 million, funded and managed by ABN AMRO.

Kramer joins the ABN AMRO SIF from Dutch venture capital investor Slingshot Ventures, where she served as a Partner, responsible for heading the investment team. Prior to joining Slingshot, Kramer held a series of senior finance roles, including serving as Head of Mergers and Acquisitions at KPN, and Director of Corporate Finance M&A at Royal Bank of Scotland, as well as serving at ABN AMRO as Assistant Director M&A.

In a social media post announcing the appointment, Kramer said:

“I am really excited to have joined the ABN AMRO Sustainable Impact Fund as of the beginning of this year! I am looking forward to working together with a great team and investing together in companies that have a positive impact on climate and society.”

Volvo Cars announced the appointment of Vanessa Butani as Head of Global Sustainability. Butani will assume the new role in April 2024, succeeding Anders Kärrberg, who has held the position since Volvo established its Global Sustainability Team in 2019.

Based at the Volvo Cars’ global headquarters in Gothenburg, Sweden, Butani will lead the company’s sustainability ambitions and the evolution of its sustainability strategy, playing a key role in its transition into a leading sustainable mobility provider, according to the company.

The appointment follows Volvo Cars’ recent announcement of a new goal to reduce CO2 emissions per car by 75% by 2030, compared to a 2018 baseline, and that it has joined the First Movers Coalition to use its purchasing power towards clean technologies to help support the shift to near-zero emission aluminum. The company has also set goals to achieve climate neutrality by 2040, reduce CO2 emissions per car by 40% between 2018 and 2025, and to sell only fully electric cars across its global portfolio by 2030.

Jim Rowan, Volvo Cars CEO said:

“We’re excited to have Vanessa joining our company. Her leadership and experience in this field will play a critical role in the continued execution of our ambitious sustainability strategy across our entire organisation, and ensuring that we maintain a leading voice in sustainable mobility. I’d also like to thank Anders for his great contribution to Volvo Cars’ success and wish him well in his retirement.” 

Butani joins Volvo Cars from global appliance company Electrolux, where she has been serving as VP Group Sustainability, after being appointed in 2021 as Head of Sustainability for Europe. Prior to joining Electrolux, Butani served as Director of Sustainable Business at Scandic Hotel Group.

Butani said:

“I have been watching Volvo Cars’ approach to sustainability with admiration. Now I have a fantastic opportunity to join the team and drive the company towards its sustainability ambitions, integrating sustainability as a competitive edge in every aspect of the value chain.” 

Sustainable infrastructure investor and operator company Generate Capital announced the appointment of William (Bill) Sonneborn as President.

Founded in 2014, Generate builds, owns, operates and finances clean energy, transportation, water, waste, agriculture and digital infrastructure, aimed at being a “one-stop-shop for the infrastructure transition.” The company has raised over $ billion in capital since inception, and invested over $6 billion in sustainable infrastructure.

Sonneborn said:

“I am honored and excited to join Generate Capital, a true first-mover that has built an enduring one-stop-shop for the Infrastructure Transition. While I already appreciated Generate’s market position and the opportunity available for providing sustainable, reliable and affordable resources, I have been incredibly impressed by the quality and diversity of the people and capabilities that Generate has mobilized to address it comprehensively. The chance to capitalize upon that foundation and to expand Generate’s reach is tremendously compelling.”

Sonneborn joins Generate from the World Bank Group’s International Finance Corporation (IFC), where he served as Global Director of Disruptive Technologies, Creative Industries and Funds and Chair of the Investment Committee, overseeing $7.5 billion in investments. Prior to joining the IFC, he was President of energy and infrastructure-focused investor EIG Global Energy Partners, and he has also served at KKR as KKR Asset Management and KKR Financial Corporation, as well as a partner and member of the Management Committee of KKR, and at TCW Group as President and COO of TCW, and as the CEO of TCW Funds.

Scott Jacobs, Chief Executive Officer and Co-Founder of Generate Capital said:

“We are absolutely thrilled to expand our management team with Bill, who is among the most well-regarded investment professionals in the energy and finance industries. Bill’s leadership, insights, trusted relationships and decades of experience working across a wide spectrum of alternative investments will help fuel our continued growth, as we capitalize on our enormous opportunity and continue to advance the sustainable investing and infrastructure categories.”

International food retailer Ahold Delhaize announced today the appointment of Alex Holt as Chief Sustainability Officer (CSO) and member of the Executive Committee. She succeeds Jan Ernst de Groot, the company’s first CSO, appointed in 2022, who recently announced plans to retire in May 2024.

Ahold Delhaize appointed de Groot as its first CSO in 2022. The announcement marks Ahold Delhaize’s first appointment of a dedicated Chief Sustainability Officer, with de Groot simultaneously serving as the company’s Chief Legal Officer.

Holt will join Ahold Delhaize from Woolworths Group, Australia and New Zealand’s largest retailer, where she currently serves as Chief Sustainability Officer and Executive Committee member. She joined Woolworths in 2011, and has held a number of positions at the company, including General Manager of Sustainability, Health and Quality, before taking on the CSO role in 2021. Prior to joining Woolworths, Holt worked at Tesco in a number of roles in business improvement, merchandising and sourcing.

Frans Muller, President and CEO of Ahold Delhaize, said:

“I am very happy that Alex will join our Executive Committee as our new Chief Sustainability Officer. She brings relevant experience from a food retail, business leadership and sustainability perspective. She is a sharp thinker and inspiring leader with a deep understanding of the challenges and impact that this role brings in a food retail company with ambitions with regard to health, nature, and climate.”

In her new role, Holt will drive the vision and strategy on sustainability in line with the company’s group strategy, accelerate focus and collaboration across the organization and its supply chain, and will be responsible for building and developing sustainability capabilities and mindsets within the brands and support organizations as well as providing thought leadership, expertise, and support to the executive team and the brands.

Holt said:

“I am very excited to join Ahold Delhaize, a company that wants to contribute positively to the transition to a sustainable food system. I am looking forward to partnering with the executive team, sustainability and business leaders across the company and across the industry to tackle the challenges that we face together, and seize the opportunities that create the biggest impact.”

Netherlands-based cooperative bank Rabobank today announced today the launch of a new North American renewable energy team, including the appointments of new senior bankers and energy transition-dedicated analysts.

Rabobank said that the new team, which now includes 30 professionals focused on the energy transition, will help fuel its broader growth and sustainability strategy in North America.

Greg Hutton, Head of Project Finance and Energy Transition Strategy in North America at Rabobank, said:

“We are creating a center of excellence exclusively focused on financing the energy transition. Accelerating the shift toward cleaner energy sources around the world is a critical component of our growth strategy.”

The new appointments include Joshua Dale as Managing Director and Head of Energy Transition Coverage for North America, and Jon Castaldo as Managing Director, Energy Transition Coverage for North America.

Dale’s appointment marks a return to Rabobank, after serving as Managing Director, Renewables for Project Finance & Infrastructure for CIBC Capital Markets. Prior to joining CIBC, he worked in leadership roles in renewable energy project finance for Rabobank.

Castaldo joined Rabobank in 2019 from structured finance-focused consultancy firm Broad Bridge Capital, and has more than 20 years of experience across corporate finance, structured credit, real assets, project finance and tax equity.

Rabobank said that Dale and Castaldo will be focused on providing financing options and developing new products for companies in the renewable energy value chain, existing Rabobank clients and the broader sustainability sector.

Additionally, Rabobank announced the appointment of its first RaboResearch analysts dedicated to the energy transition movement, including Nina Fahy as Executive Director and Senior Energy Transition Analyst, and Amit Mathrani as Energy Transition Specialist.

David Bassett, Head of Rabobank Wholesale Banking North America, said:

“We specialize in financing critical economic, environmental and societal transitions—from food to energy—that will help create a more sustainable future. And, in North America, our strategy is clear: To grow the companies that feed and power the world.”

BNP Paribas Asset Management (BNPP AM) today announced the appointment of Rodolphe Brumm to head its new Low Carbon Infrastructure Equity strategy within its Private Assets investment division. 

Brumm joins BNPP AM after serving as a Partner at infrastructure-focused private equity investor Antin Infrastructure Partners, where he led several energy transition-focused transactions. His previous roles include Head of Origination & Execution for Europe at UBS Infrastructure Equity in London, Advisor at NextWorld Evergreen in San Francisco and Managing Director in Ardian’s equity infrastructure team.

The new strategy, due to be launched at the beginning of 2024, will invest in low-carbon infrastructure projects in Europe through acquiring minority stakes in companies in energy transition-related areas, such as the development of renewable energy projects, transport decarbonization, circular economy and carbon capture.

Brumm will report to Karen Azoulay, Head of Real Assets within BNPP AM’s Private Assets division.  He is joined by Frédéric Guiraudios, who moves to BNPP AM after around 20 years in M&A as a Managing Director at BNP Paribas Corporate & Institutional Banking.

Azoulay said:

“The appointments of Rodolphe and Frédéric further strengthen the infrastructure franchise within our Private Assets investment division at a time when client demand for this asset class continues to grow and the need for investments, particularly low-carbon investments, is considerable. The new Low Carbon Infrastructure Equity strategy will be based on the central positioning of the entire BNP Paribas Group within the financing of the energy and low-carbon transition.”