The key elements making up the entity that is the Carbon Tracker Initiative are as follows:

Jeremy Leggett, Chairman

Jeremy Leggett is the founder and chairman of SolarCentury, an international solar solutions company, and Solar Aid, an African solar lighting charity. An Entrepreneur of the Year at the New Energy Awards and a CNN Principal Voice, Jeremy convened the UK Industry Taskforce on Peak Oil and Energy Security and is a founding director of the world’s first private equity fund for renewable energy, Bank Sarasin’s New Energies Invest, where he has been a non-executive board member for twelve years. As a former geologist, whose research on shale were funded by both BP and Shell, he is a recognised expert on fossil fuel reserves, and has authored several books on fossil-fuel dependency, including Half Gone, the Carbon War and most recently The Energy of Nations. At the 2013 Solar Industry Awards, he won the Outstanding Individual Award.


Mark Campanale, Founding and Executive Director

Mark is the founder of the Carbon Tracker Initiative and conceived the ‘unburnable carbon’ thesis. He was editor of ‘Unburnable Carbon, are markets carrying a carbon bubble’ report. Mark is responsible for strategy, board matters and developing our capital markets framework analysis. Prior to forming Carbon Tracker, Mark had twenty years experience in sustainable financial markets. Mark is a co-founder of some of the first responsible investment fund at Jupiter Asset Management, NPI, AMP Capital, and Henderson Global Investors. Mark served on the World Business Council for Sustainable Development working group on capital markets leading up to the 1992 Earth Summit; was a Member of the Steering Committee of UNEP Financial Sector Initiative (1999-2003), and continues to advise a number of investment funds. Mark was a founder firector of the UK Sustainable and Responsible Investment Forum (UKSIF), 1990-2006, is a member of the Advisory Council of SASB (Sustainable Accounting Standards Board) and and the UNEP-WRI working group on greenhouse gas emissions and the financial sector.

Anthony Hobley, Chief Executive Officer

Anthony Hobley is a banking lawyer based in London. He specialises in climate change and clean energy law as well as UK, EU and international environmental law. Anthony has played a key role in helping to design the UKs pilot emissions trading scheme and in developing key aspects of the EU ETS. He recently played a role in the advocacy around the Australian Clean Energy package and is currently working for a developing country Government on scoping out options for their climate and clean energy legislation. He spent time at the boutique investment bank Climate Change Capital as General Counsel to the Carbon Funds and Director of Legal Policy. Whilst there he helped CCC to establish its key investment procedures and documentation. Anthony has spent 14 years with major law firms specialising in UK and EU environmental law and more recently playing a key role in helping one of them to develop and build their leading climate change and clean energy practice group.

Anthony has been described as a leader in his field in recent editions of the Chambers Guide to the Legal Profession in the UK. Anthony has also played a key role in developing the market and conceptualised and created several organisations: (a) the Climate Markets and Investment Association where he was its first Chairman, (b) the Businesses for a Clean Economy umbrella group in Australia; and (c) Green & Tonic a London based network for sustainability professionals.

Anthony currently sits on the boards of the CMIA, The Verified Carbon Standards Association and on the Advisory Board to the Climate Bonds Initiative. Anthony has lectured and written widely on all subjects of environmental law, particularly in relation to contaminated land, renewable energy and emissions trading under the Kyoto Protocol and EU Emissions Trading Scheme. He was recently invited to speak in New Delhi by the European Commission on the investment in CDM in India and in Budapest at the British Embassy where he chaired the session jointly with Prince Andrew; in Tokyo by the Japanese power industry on both the UK and EU ETSs; in Ottawa at the annual meeting of the International Emissions Trading Association (IETA) and many other events. He has also appeared on UK television and radio speaking on climate change and has been quoted in the Economist, The Financial Times and the Wall Street Journal.

Anthony has contributed to a great number of publications, including “Transposition of the Emissions Trading Scheme Directive into Law and Associated Issues” by Anthony Hobley & Chris Rowe in the “Journal For European Environmental & Planning Law” (Vol 1, Number 1, Jul 04); “International Emissions Trading : A Legal Context” by Anthony Hobley and Anna McCann in “A Guide to Emissions Trading” (Jul 04); “The EU emission allowance trading scheme : a prototype for global GHG emissions allowance trading?” by Anthony Hobley and Peter Hawkes in “Environmental Liability” (Vol 11 Issue 5, Oct 03); and a chapter written for “Legal Aspects of Implementing the Kyoto Protocol Mechanisms” in “Making Kyoto Work” edited by David Freestone and Charlotte Streck (Feb 05).

Anthony qualified as a solicitor of England and Wales in 1994. He has a first class honours degree in Chemistry and Physics and recently completed a Masters Degree in Environmental Law. Prior to joining the practice, Anthony was General Counsel to the Climate Change Capital Carbon Fund and Director of Legal Policy for Climate Change Capital which he joined in September 2005. Anthony recently spent nearly two years on secondment in our Sydney office where he was heavily involved in the development of the emerging carbon and clean energy markets in Australia and Asia.


Cary Krosinsky, Co-Founder

Cary Krosinsky is a writer, educator & advisor on sustainability issues. He teaches an MBA class on Sustainability & Investing at the University of Maryland’s Robert H. Smith School of Business as well as at Bard College’s new MBA for Sustainability program. He is also teaching and advising on Sustainable Investing at Columbia University’s Earth Institute, in conjunction with Kerry Kennedy’s RFK Center for Human Rights & Justice. Other academic affiliations include advising at the University of Cambridge, Concordia University in Montreal & Yale University. His three books on sustainable investing are the contemporary standard textbooks used in classrooms on the subject, and he continues to write frequently for the Guardian and other publications. He was more recently cited as one of the most significant policymakers in Environmental Investing by the Journal for Environmental Investing (, consults for the UN Global Compact on their new Value Driver Model, is Executive Director of the Network for Sustainable Financial Markets, and is former Senior Vice President for Trucost in North America.

Alice Chapple, Board Member

Alice Chapple is an economist and a specialist in impact investment and impact assessment. She established Impact Value, a business and investor advice organisation, in October 2012. Alice used to head up the financial services sector work at Forum for the Future, a not-for-profit adviser on sustainable development. Alice has worked on projects exploring the scope for innovative financial instruments, more effective valuation techniques, better risk assessment, and longer-term investment strategies. Before her time at Forum For the Future, Alice worked at development finance institution CDC in various roles, including financial analyst, fund manager, and social and environmental advisor. She also worked for Actis, the emerging markets private equity firm. Alice has an MA in economics from Cambridge University and is a chartered accountant.


James Leaton, Research Director

James has ten years sustainability experience across responsible investment, NGO policy and private sector consultancy. James was a senior policy advisor at WWF-UK focusing on the oil and gas sector and related finance. He co-ordinated the successful Sakhalin II campaign which prevented the oil and gas project receiving project finance. His strategic thinking initiated WWF’s work on the tarsands in Canada which was subsequently adopted as a campaign by the Co-operative Bank and other NGOs. James brings project management skills from his time as a consultant at PricewaterhouseCoopers.

John Wunderlin, North America Project Manager, Staff Attorney

John’s primary focus is preparing and coordinating research to support US regulatory advocacy to align capital markets with carbon asset risk. He also helps coordinate other North American activities and assists Carbon Tracker’s international regulatory research and advocacy. Current activities include: drafting a white paper on ‘materiality’ of carbon asset risk under current SEC law, preparing messaging for proposed meetings with DC regulators in March, and coordinating Carbon Tracker comments on draft SASB standards for non-renewable resources.
In addition to working with Carbon Tracker, John facilitates the CMIA’s North American Policy working group, with an emphasis on market oversight and the emerging state and provincial cap-and-trade systems. He also assists CMIA’s work on the UNFCCC and clean development mechanism.

John received a J.D. from NYU School of Law in May 2011 and is admitted to the New York State bar. Since starting law school in 2008, John has worked extensively on climate change regulation and policy, first with the NYU Climate Finance Project, then with EcoSecurities. John has helped edit a book on international climate finance, drafted CMIA submissions to the UNFCCC, assisted CDM advocacy efforts at Cancun and Durban, and published on CDM governance.

Luke Sussams, Senior Researcher

Luke has responsibility for report research, analytics and drafting, applying these skills as author of Carbon Tracker’s Australia and Brazil reports, whilst contributing to the global analysis Wasted Capital and Stranded Assets. He brings advocacy skills including presenting to the UK Foreign and Commonwealth Office and as part of Oxford University’s summer Climate Change Adaptation Academy, as well as across the US and Brazil. He has experience from across the environmental and NGO sector having spent time at Forum For the Future and 38 Degrees. Luke brings climate change and environmental policy expertise from the Environmental Technology MSc at Imperial College London and a BSc in Geography.


Advisory Board

Our advisory board consists of:
- Jemma Green
- Mark Fulton
- Ben Caldecott
- Lois Guthrie
- James Stacey
- Catherine Howarth
- Tessa Tennant
- Bevis Longstreth



The work of Carbon Tracker has been made possible by the vision and openness to innovation shown by the following organisations:

  • The Rockefeller Brothers Fund
  • The Growald Family Fund
  • The Joseph Rowntree Charitable Trust
  • The Polden Puckham Charitable Foundation
  • The Tellus Mater Foundation
  • The Ashden Trust
  • Zennstrom Philanthropies
  • Wallace Global Fund

If you think your climate / finance programme isn’t the complete picture, get in touch to find out if we are what’s missing.