Meet The Team
Carbon Tracker is an independent financial think tank which provides in-depth analysis on the impact of climate change on capital markets and investment in fossil fuels, mapping risk, opportunity and the route to a low carbon future.
Mark CampanaleFounder & Executive Director
Mark is the Founder of the Carbon Tracker Initiative and conceived the ‘unburnable carbon’ capital markets thesis. He commissioned and was editor of Unburnable Carbon – Are the World’s Financial Markets Carrying a Carbon Bubble? report that launched us in November 2011. More recently, Mark founded and is Chair of the Fish Tracker Initiative – www.fish-tracker.org. which focuses on limits to growth in the fisheries space. Mark is responsible for management strategy, board matters and developing their capital markets framework analysis. Their goal is to align capital markets with natural ecological limits to growth.
Prior to forming these groups, Mark had twenty five years experience in sustainable financial markets working for major institutional asset management companies. Mark is a co-founder of some of the first responsible investment funds firstly at Jupiter Asset Management in 1989 with the Ecology Funds, NPI with Global Care, the AMP Capital Sustainable Future Funds, and Henderson Global Investor’s Industries of the Future Funds.
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 financial institutions including Tribe Impact Capital and Consilium Capital. Mark is a Founder Director of the UK Sustainable and Responsible Investment Forum (UKSIF), 1990-2006, is a member of the Advisory Council of ImpactBase.org; a member of the Advisory Board of the Gordon and Betty Moore Foundation’s ‘Conservation and Markets Initiatives’; a member of UNCTAD’s Sustainable Stock Exchange’s Green Finance Advisory Group; and is the Hon Treasurer of The Rainforest Foundation UK. Mark is also Founder of the Social Stock Exchange, funded by Rockefeller Foundation and more recently Big Society Capital.
Mark has a BA in Politics & Economic History and an M.Sc in Agricultural Economics.
Anthony HobleyChief Executive Officer
Anthony has been Chief Executive Officer of the Carbon Tracker Initiative since February 2014. Previously he was a partner and Global Head of the Sustainability & Climate Finance Practice at global law firm Norton Rose Fulbright. Formerly he 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 specialised in climate change and clean energy law as well as UK, EU and international environmental law. He has played a key role in helping to design the UKs pilot emissions trading scheme and in developing key aspects of the EU ETS. Anthony was seconded to Norton Rose Fulbright’s Sydney office between 2010 and 2012 where he was heavily involved in the development of the emerging carbon and clean energy markets in Australia and Asia. He was a key figure behind the creation of the business advocacy group Businesses for a Clean Economy, a coalition of business arguing for a price on carbon.
Anthony was behind the creation of the business group Climate Markets & Investment Association. He sat on the board of the Verified Carbon Standards Association (now Vera) between 2007 and 2015. He currently sits on the Advisory Board to the Climate Bonds Initiative and the Global Footprint Network. Anthony holds a First-Class Honours Degree in Chemistry & Physics and an LLM in Environmental Law. He qualified as a solicitor of England and Wales in 1994. He writes and speaks widely on climate risk and the financial sector.
Jon GraysonDirector General & COO
Jon Grayson is Director General at the Carbon Tracker Initiative and his background is as a sustainable finance specialist, having run Enviromarket since 2006. There he was responsible for Risk Assessment and Research Programmes. Between 2011 and 2014 Jon was heading up operations at the Social Stock Exchange.
Jon’s background is as a management consultant with Mars & Co in London advising Blue Chip firms on business strategy before embracing a career in finance as a cash equities research analyst with Donaldson Lufkin & Jenrette International in late 90’s. Following a refocus towards environmental markets and sustainable business models in 2002 he was a project manager advising executives in the UK health service on turnkey strategies before co-founding EnviroMarket.
Jon provided technical support to the team in 2010/11 ahead of the first Unburnable Carbon report. He formally joined Carbon Tracker in 2014 as Chief Operating Officer (COO) and became Director General (DG) in June 2018.
Jon holds a first class BSc in Manufacturing Engineering from Durham University, a postgraduate from Cambridge University and an MSc in Environmental Technology from Imperial College where he was awarded the ERM prize for his research on win-win business models for sustainability.
Robert SchuwerkExecutive Director, North America
Robert Schuwerk is an Attorney admitted to the New York and Texas State Bars. He is Interim Director North America and works on Carbon Tracker’s US regulatory and legal strategy and activities. Prior to joining Carbon Tracker, Robert worked as a securities litigator for a large New York law firm and as an Assistant Attorney General for the State of New York’s Environmental Protection Bureau.
Robert received his J.D. from the Yale Law School in 2005. In 2006, he completed a clerkship for the Honorable I. Leo Glasser, Federal District Court Judge, Eastern District of New York.
Mark FultonChair of the Research Council
Mark Fulton has had 35 years experience in financial markets spanning three continents in London, New York and Sydney. As a recognized economist and market strategist at leading financial institutions including Citigroup, Salomon Bros and County NatWest, he has researched international economies, currencies, fixed income and equity markets. Mark has also held corporate strategy, finance and management roles.
Having a strong interest in the environment and sustainability, starting with a report on climate change and markets in 1991, Mark was head of research at DB Climate Change Advisors at Deutsche Bank from 2007 to 2012, where he produced thought leadership papers for investors on climate, cleaner energy and sustainability topics and advised investment teams in asset management. From 2010 to 2012 he was Co-chair of the UNEP FI Climate Change Working Group and in 2011 and 2012 was part of the technical committee of the UN Secretary General’s Sustainable Energy for All.
Currently, Mark is Chair of the Research Council at the Carbon Tracker Initiative; a Senior Fellow at CERES; and Special Advisor to IGCC. He is also a member of the Capital Markets Climate Initiative; UK Department of Energy and Climate Change; Advisor to the Carbon Disclosure Project; and the Climate Bond Initiative. Mark has a BA in Philosophy & Economics from Oxford University.
Saker NusseibehNon-Executive Chairman
Saker joined Hermes in June 2009 as head of investment and executive board director before becoming CEO in 2012. Under his tenure the investment manager has achieved outstanding year-on-year growth in sales, revenues and profitability, while contributing to the debate about how to improve the contribution of financial services to society. Prior to joining Hermes he was global head of equities at Fortis Investments, CIO of global equities and head of marketing for SGAM UK and managing director of Trust Company of the West. He began his career at Mercury Asset Management in 1987.
A highly regarded industry figure, known for his candour, Nusseibeh is the founder of the 300 Club, a group of leading investment professionals who seek to challenge investment orthodoxy and increase the benefits of financial services to society. He is a member of the CFA Institute’s Future of Finance Advisory Council, a member of the IIRC Council and sits on the Banking Standards Board.
Cary KrosinskyCo-founder and Director
Cary is a leading advisor, author and educator, teaching the Theory and Practice of Sustainable Investing at Brown University, supporting the Sustainable Investment Fund within the Brown Endowment, and is Lecturer at Yale College on various subjects. He also teaches MBA classes at Concordia and Maryland, having previously helped lead the RFK Sustainable Investing program at Columbia’s Earth Institute for Kerry Kennedy’s RFK Center for Justice and Human Rights.
His third book, Sustainable Investing: Revolutions in Theory and Practice (Routledge, 2017) looks at current investment practices and how these need to evolve for the sake of society and financial value.
He led a Working Group in 2015 for the PRI involving some of their largest signatories leading to the development of a Framework for Asset Owner Strategy on Climate Change released during COP 21 in Paris, and advised to and wrote numerous papers for the UNEP Inquiry into the Design of a Sustainable Financial System including the Value of Everything. He also recently co-authored A New Vision of Value for KPMG and advised to the University of Cambridge’s Investment Leaders Group and Wilshire Associates. He is also Editor of the Journal of Environmental Investing.
Paul BodnarBoard Member
Paul served in the Obama White House as special assistant to the president and senior director for energy and climate change at the National Security Council. Paul was a key architect of the Obama Administration’s international climate policies, including the historic U.S.-China presidential joint climate announcement of November 2014, the OECD agreement to strictly limit public financing for coal-fired power plants, and the doubling of clean energy research and development budgets by 20 major countries through the Mission Innovation initiative. He played a principal role in formulating U.S. strategy for the Paris Climate Conference.
Meg BrownBoard Member
Managing Director, Business Development
Meg heads up marketing across Impax and leads the London-based sales team covering UK, continental Europe and Asia. Meg also co-heads their impact investing work.
She has extensive experience in sustainable investing and research, having begun her career in 2002. As head of Citi’s top-ranked Climate and Sustainable Investment Research team she worked with institutional and private clients across Europe on impact and responsible investment. Meg joined Impax in 2014 following a period as a consultant to private sector and not for profit clients in designing responsible investment strategies, including acting as the UK Liaison for the Global Impact Investing Network. Meg has a MSc in Environment and Development from the London School of Economics.
Emma HuntBoard Member
Emma has been at the forefront of developments in corporate governance, ESG, sustainability and responsible investment for over 20 years. She is an expert in strategy and leadership and the management and direction of businesses. During her career she has lead teams at asset managers, investment consultants including Willis Towers Watson, Mercer Investments, Friends Ivory & Sime and most recently co-heading Hermes EOS.
Tauni LanierBoard Member
Environmental Economics (PhD.), University of St. Gallen, Switzerland
Dr. Tauni Lanier has been named as a non-executive director of Carbon Tracker. Lanier, formerly Executive Director of IMPACT2030, the only private sector-led initiative with the United Nations and other stakeholders to unite companies in their corporate volunteering efforts on the Sustainable Development Goals, is Sustainability Director at World Wide Generation (WWG), a UK fintech firm. Earlier in her career she was the first Managing Director of the Dow Jones Sustainability Group Index and subsequently, Senior Project Manager for the Sustainable Development Reporting Project with the World Business Council for Sustainable Development.
Henrik JeppesenHead of Investor Outreach, North America
Henrik joined Carbon Tracker in June of 2017 as Head of Investor Outreach for North America. His mandate is to develop the organization’s capabilities in North America, building awareness and understanding of carbon and stranded asset risk amongst institutional investors and broadening the distribution and usage of Carbon Tracker’s proprietary research.
Henrik brings more than 20 years of experience in the energy and financial services sectors most recently as the founder of VikingInsight, an independent consultancy providing thematic fundamental research and corporate access services to US institutional investors. Henrik was previously a European equity research sales person and a sell-side equity research analyst covering the traditional and renewable energy, consumer goods, transportation and materials and healthcare sectors for SEB Enskilda in their New York, Copenhagen and London offices. Henrik began his career as a buy-side equity portfolio manager for Nykredit Asset Management in Copenhagen.
Henrik holds a M.Sc. in Finance and Accounting and a B.Sc. in Economics and Business Administration from Copenhagen Business School, where he also served as an external lecturer on capital markets and the IPO process. Henrik holds the Chartered Financial Analyst (CFA), Certificate of Investment Performance Measurement (CIPM) and Chartered Alternative Investment Analyst (CAIA) designations as well as SASB’s Fundamentals of Sustainability Accounting (FSA) Credential. He is a member of the CFA Society of New York.
Kingsmill BondNew Energy Strategist
Kingsmill Bond is the New Energy Strategist for Carbon Tracker, and part of the investor outreach team. His role is to communicate to investors the dramatic implications of the energy transition. He believes that this revolution is the most important driver of financial markets and geopolitics in the modern era.
Kingsmill has worked as a sell-side City equity analyst and strategist for over 20 years, including for Deutsche Bank, Troika Dialog and Citibank in London, Hong Kong and Moscow. He has written strategy on emerging markets and global themes, including the wider significance of the shale revolution. He worked for many years in Russia, which is the world’s largest exporter of fossil fuels, and deeply impacted by the transition.
Kingsmill has an MA in history from Cambridge University, trained as an accountant (CIMA), and is a Chartered Financial Analyst (CFA).
Andrew GrantSenior Analyst
Andrew joined Carbon Tracker in 2014 as a Senior Analyst, leading research on oil & gas and coal mining. He has authored a number of Carbon Tracker’s major reports on these sectors, including the Carbon Supply Cost Curves series, scenario analysis of the oil refining industry in Margin Call, and exploring transition risk at the company level in 2 Degrees of Separation. Prior to joining Carbon Tracker, Andrew formerly worked at Barclays Natural Resources Investments, a private equity department of Barclays that committed capital across a range of commodities and related industries. Andrew has previous experience in remuneration and corporate governance at Barclays Capital and New Bridge Street LLP. He is also a Senior Advisor to Critical Resource, a management consultancy specialising in political, stakeholder and sustainability challenges in the energy and mining sectors. Andrew has a degree in Chemistry & Law from Bristol University.
Matthew GraySenior Analyst
Matt is a carbon and energy expert with experience in Europe and Australasia, and leads Carbon Tracker’s work on power and utilities. He authored Carbon Tracker’s Chasing the Dragon and Carbon Supply Cost Curves reports. Matt was previously an analyst at Jefferies, an American investment bank, where he was the head of European carbon and power research. More recently, Matt was a consultant analyst at the International Energy Agency and has also worked on emissions trading at Credit Suisse and energy efficiency at the UK’s Department of Energy and Climate Change. He has a Bachelor of Applied Science from the University of Otago and a Master of Science from the University of Manchester where he was awarded a Rotary Foundation Ambassadorial Scholarship. He is an avid surfer and supporter of the New Zealand rugby team.
Laurence WatsonData Scientist
Laurence is a data scientist at Carbon Tracker with broad experience in energy and climate change. Laurence was previously head of technology at Sandbag, an NGO focused on carbon markets. More recently he was a climate and energy policy researcher for Barry Gardiner MP and senior parliamentary assistant for Gill Furniss MP supporting their work across a range of policy briefs in Westminster. He has also worked at the Alvin Weinberg Foundation, a charity advocating the development of next-generation nuclear technology and interned with Lord Alf Dubs and the British Embassy, Prague. He has a Bachelor’s degree in Natural Sciences (Physics) from the University of Cambridge.
Sebastian LjungwaldhEnergy Analyst
Sebastian joined Carbon Tracker in 2017 as an Energy Analyst and has over six years’ experience across energy, climate and finance. He was most recently an Energy Investment Analyst at the International Energy Agency in Paris, where he researched energy investment trends across geographies, fuels and business models. Previously, Sebastian led the research function on carbon, power and commodity markets at a Tricor plc, a low carbon project developer active in emerging markets. He then worked as an Energy and Sustainability Consultant at JLL Upstream Sustainability Services and advised a range of investors in the built environment sector.
Sebastian holds a MSc in Environmental Technology from Imperial College London and a BSc in Economics from Jönköping University in Sweden.
Paul SpeddingResearch Advisor to Carbon Tracker Initiative
Paul graduated from Oxford University with an MA in Chemistry in 1980. Later that year, he joined Dresdner Bank (then Grieveson Grant) analysing the financial performance of UK oil companies quoted on the London Stock Exchange. In 2005, he moved to HSBC, where he was Global Co-Head of Oil And Gas Research.
He was one of the first “conventional” oil analysts to publish research in to the potential cost of carbon for oil companies with two reports in 2008 and 2013, both called “Oil & Carbon. He retired from HSBC in 2013, after 33 years as a financial analyst. He is now Research Advisor to Carbon Tracker.
Durand D’souzaData Scientist
Durand is a data scientist at Carbon Tracker in the Power & Utilities team, with experience across a wide range of domains. Prior to joining Carbon Tracker, he was a freelance data journalist producing interactive visual stories, wining an Information Is Beautiful award along the way. He also worked on a PhD in computational stellar astrophysics at the Max Planck Institute for Astrophysics in Germany, until his lifelong obsession with climate & energy policy prevailed. He is interested in how machine learning can be used for social good and to bring about a just transition.
Durand holds a Masters in Physics with Astrophysics from the University of Leeds.
Meena RajuResearch Programme and Business Manager
Meena joined Carbon Tracker Initiative as Research Programme and Business Manager in January 2019. Meena is a Marketing and Business Development professional with substantial programme management experience in diverse sectors including financial services, oil & gas and research and innovation, across Asia and in the UK. Some of the top brands she worked with include Shell and TATAs.
At Shell, she launched the Shell Graduate Employer brand in India and won AC Nielsen CampusTrack award in 2007-8, for positioning the brand amongst the top 5 Graduate Employer Brands in its first year of operations in India.
After a career break (post-maternity) of 3.5 years, she moved to not-for-profit, climate change space and worked as a consultant on a variety of projects, including setting up a US based not-for-profit think tank called RethinkX (co-founded by UK based investor and philanthropist, James Arbib) that focuses on understanding the dynamics and the systemic nature of disruption across key market sectors.
Her last role was with the European Climate Foundation, where she managed programme operations for the largest programme within ECF, Europe Coal and the UK country programme.
Meena has a Bachelors in Mathematics from University of Madras, India and an Executive MBA from Cass Business School, London.
Kate WoolertonSenior Accountant
Kate joined Carbon Tracker in 2017 as a Senior Accountant within the regulatory team. Kate is ACA qualified and has several years’ experience of auditing banks and working within the finance department of a technology commercialisation organisation. Kate is responsible for looking at how current accounting and auditing standards can be made fit-for-purpose by providing transparency at the accounting level on the implications of climate change on the extractives sector.
Kate holds a BA in Biological Sciences from the University of Oxford. She recently completed an MSc in Climate Change, Management and Finance at Imperial College Business School, and as part of this she undertook an internship at the European Bank for Reconstruction and Development.
Aurore Le GaliotJunior Associate, Policy and Regulatory
Aurore joined Carbon Tracker in 2018 as an intern, supporting the activities of the regulatory and policy team. She has now joined the team as a Junior Associate, Policy and Regulatory.
Prior to joining Carbon Tracker, Aurore completed two internships at HSBC Paris, focusing on business analysis and development.
Aurore holds a BSc degree in International Management and Chinese language from SOAS University and continued further studies at Beijing Normal University and Shanghai University of Finance and Economics, learning Mandarin and focusing on the political and economic context in China.
Over the course of her studies, her work became increasingly focused around environmental and social related issues, she wrote her bachelor thesis on the use of market-based instruments to address China’s environmental problems.
Mike KnightSenior Advisor
Stefano AmbrogiHead of News & Communications
Stefano is Head of News and Communications. He came from the European Climate Foundation where he was International Communications Manager, co-founding a global communications network that supports organisations like CTI. Previous to that he worked as a Senior Correspondent with Reuters news agency for 14 years, where he reported on energy, commodities, financial markets and British political and general news. For Reuters he broke a string of world exclusives in the build up to the Iraq War on the U.S. Navy secretly moving tanks and heavy armour using merchant shipping to the Gulf months ahead of the 2003 invasion. Over the years he has also worked for the Evening Standard, the Daily Telegraph, Euromoney and newspapers in Latin America. Stefano has a BA in Politics and Economics and a postgraduate in Journalism.
Margherita GagliardiCommunications and Design Manager
Margherita is Communications and Design Manager at Carbon Tracker. She has responsibility for event organisation, partnership building and media relationships. She brings graphic and visual skills, which she applies to Carbon Tracker’s brand identity, infographic design, website and social media presence.
In 2013, she completed a Master specialisation in Green Management, Energy and Corporate Social Responsibility at Bocconi University in Milan and an internship in the Investment Advisory Service and ESG Research teams at Sustainalytics in Amsterdam.
In 2009 she co-founded a creative services consultancy, where she has worked for three years as project and communications manager.
Prior to this, she graduated with a Ms in Cultural Management and Innovation at the University of Bologna, and worked in a communications agency in Barcelona and in a cultural NGO in Brussels.
Daniel CroninU.S. Press & Communications Manager
Daniel Cronin joined Carbon Tracker in 2018 as the U.S. Press & Communications Manager. He is based in New York City.
Prior to joining Carbon Tracker, Daniel was the Public Relations Manager for the United Nations International School in New York City. In addition, since 2000, he has also worked in communications for members of Congress, public charter schools, and advocacy organizations. His efforts have resulted in coverage from media outlets including CNN, The New York Times, FOX News, Al Jazeera, The Washington Post, Xinhua News Agency, and The Wall Street Journal.
Daniel was born and raised in Upstate New York and graduated from the University of Massachusetts with a Bachelor of Arts in Political Science in 1998.
Rachel CarrCommunications and Events Associate
Rachel is the Communications and Events Assistant at Carbon Tracker. Rachel studied Environmental Science at the University of Manchester, during which she focused on scientific communication. Rachel developed her communications skills further whilst volunteering in the Green Party press office during the 2015 general election. She went on to work for Free Tibet where she oversaw events and assisted with both internal and external communications. Rachel draws a lot of her experience from her involvement in local community groups which take action on social and environmental issues.
Joel BenjaminSocial Media and Communications Associate
Joel Benjamin is the Social Media and Communications Associate at Carbon Tracker. Joel has experience in social media, research and journalism – with work featured in C4 Dispatches, The FT and BBC.
Joel is the co-founder of Community Reinvest and researched the fossil fuel exposure of 100 local government Pension Scheme funds, culminating in the publication of the Reinvesting Pensions report in 2016. He has held roles as a Research Assistant for the Political Economy Research Centre at Goldsmiths University and been a campaigner for Move Your Money UK.
Previously, he has undertaken governmental environmental planning and consultancy roles for various organisations in Australia, New Zealand, Oman and the UK. He has a BSc in geography from Otago University & has studied towards a Masters in regional resource planning at Massey University, NZ.
Jane PlummerHR & Operations Manager
Jane joined Carbon Tracker in 2018 as Operations Manager. Jane has over 16 years’ experience within HR and Operations of managing projects and business as usual. Prior to Carbon Tracker Jane has worked at Cardano Risk Management, UBS and Coca-Cola. The majority of Jane’s experience is within the financial services sector. Jane is CIPD and Prince2 qualified. Jane is responsible for helping to drive efficiencies and effective processes.
Mirjana ŠkrbaHead of Finance
Mirjana is the Head of Finance. She is a Chartered Accountant with an audit background and many years’ experience in the non-profit sector. She provides key financial oversight to Carbon Tracker’s operations. She is ACA qualified and has an audit background. She trained with Deloitte LLP in Cambridge, after which she worked for Moore Stephens LLP and Crowe Clark Whitehill LLP. She has over six years’ experience in dealing with many aspects of donor funding.
Mirjana holds a first class BA in European Studies from Trinity College Dublin and she also holds a degree from the Institute d’Etudes Politiques in Strasbourg. She completed a short course on Peace Research at the International Summer School is Oslo in 2004. She also did internships at the European Parliament in Strasbourg and the UNDP in Belgrade in 2002-2003.
Jacqueline FinchExecutive & Team Assistant
Jacqueline is the Executive and Team Assistant at Carbon Tracker. She brings extensive experience working in various sectors (within the UK and USA) including non-profit, government and private.
As a long-standing member of Friends of the Earth, she has a keen interest in environmental issues, animal welfare and is very concerned for the planet, which is why she chose to work at Carbon Tracker. She is also passionate about mental/social wellbeing and has some training and a great deal of volunteering experience in these areas.
Reginald MpawuloFinance Officer
Reginald Mpawulo joint carbon tracker in 2018 as a Finance Officer. Reginald has a background in graphic design but decided to make a career change into finance. Reginald has previously worked for a law firm as a finance assistant and at an infrastructure company as an assistant accountant. At Carbon tracker initiative, Reginald works closely with the financial controller to manage the company’s finances on a day to day basis.
Reginald Mpawulo holds a second degree black belt in Ju Jitsu and is an instructor at his local Jui jitsu club.
Caroline HermansHead of Development & Communications for North America
Most recently, Caroline was a consultant specialising in social and environmental impact, working with non-profits and mission driven organisations in building their strategic direction, operations, and programs. Previously, Caroline was the Head of Environmental Stewardship at the Clinton Global Initiative where she spearheaded the development of over 100 projects addressing significant environmental socioeconomic challenges. She specialised advancing cross-sector partnerships in relevant issue areas to scale impact. Prior to joining CGI, Caroline worked with the US Geological Survey on quantifying and communicating natural hazard and environmental risk to community stakeholders and policy makers. Her research focused on the human dimensions of environmental change including development of collaborative processes in natural resource decision-making, behavior change, valuation of ecosystem goods and services, and modeling of human-ecosystem interactions. Early on, Caroline was a equity options market maker and institutional broker.
Caroline focuses on bringing together diverse stakeholders around critical local to global environmental challenges to realize meaningful and sustainable impact. Caroline received her PhD in Environment and Natural Resources from the Rubenstein School at the University of Vermont.