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 & Co-Chair of Advisory Board
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.
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
Mark FultonHead of Research
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 Head of Research 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.
Mirjana ŠkrbaHead of Finance
A Fellow Chartered Accountant with more than ten years post qualification experience, as the Head of Finance Mirjana is responsible for financial oversight of Carbon Tracker’s operations. She initially trained as an auditor with Deloitte LLP in Cambridge, after which she worked for Moore Stephens LLP and Crowe Clark Whitehill LLP. She is a specialist in grant management and non-profit accounting.
Mirjana is also the Carbon Tracker Initiative Ltd Company Secretary and a member of the Board Diversity Committee. She has been a driving force in implementing relevant operational policies and procedures to support Carbon Tracker’s continuing growth since she joined the team in March 2016.
She is Trustee of the international charity SolarAid, whose vision is a world where everyone has access to clean, renewable energy. 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 course on Peace Research at the International Summer School is Oslo in 2004.
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, CFA is the Energy Strategist for Carbon Tracker. He believes that the energy transition 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 25 years, including for Deutsche Bank, Sberbank and Citibank in London, Hong Kong and Moscow. He has written research on emerging market and global themes, including the wider significance of the shale revolution and the impact of US energy independence.
At Carbon Tracker he has written about the impact of the energy transition on financial markets, domestic politics and geopolitics, and authored a series of reports on the myths of the energy transition, looking at the many arguments made by incumbents to deny the reality of change.
He has an MA in history from Cambridge University, qualified as an accountant (CIMA), and is holds the Chartered Financial Analyst (CFA) qualification.
Andrew GrantHead of Oil, Gas and Mining
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 GrayHead of Power & Utilities
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.
Matt 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.
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 GaliotResearch Programme Associate
Aurore joined Carbon Tracker in early 2018, supporting the activities of the Regulatory and Policy team. She has now joined the team as a Research Programme Associate.
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.
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, winning 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 RajuHead of Programme Development and Research 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.
Mike Coffin joined Carbon Tracker in 2019, and is currently focussed on researching oil & gas companies’ financial disclosures, and identifying transition risk under different climate scenarios. Prior to joining Carbon Tracker, Mike worked as a Geologist for BP for 10 years, on projects across the upstream from early access to development.
Mike has experience working in petroleum basins across the world, with specialist experience in unconventional exploration and in leading technical project teams. He has spent time working abroad in Norway, has a strong interest in the environment, particularly in physical climate dynamics, and is a keen hockey player and sailor.
Mike has an MA and MSci in Natural Sciences from Cambridge University, and is a Chartered Geologist (CGeol)
Stefan LavelleData Scientist
Stefan works in the Power & Utilities team as a data scientist. He was previously an economist at the Home Office where he specialised in designing reverse auctions.
More recently, he worked as a data scientist in private equity where he built predictive models for the gaming industry. He is passionate about leveraging data to improve societal welfare and is excited to apply this enthusiasm at Carbon Tracker. Stefan is a retired boxer and house music enthusiast.
He also has a degree in economics from the University of Cambridge.
Isabella Soldner-RemboldJunior Data Analyst
Isabella is a data scientist at Carbon Tracker. Before joining Carbon Tracker, she did a PhD in astrophysics on the modelling of elliptical galaxies at the Max Planck Institute for Extraterrestrial Physics in Munich, Germany. Previous to that she obtained a BSc in physics from Imperial College London and an MSc in astrophysics from University College London. Isabella volunteers in several areas of science and climate change outreach as a writer and docent.
Sriya SundaresanSenior Analyst
Sriya is a Senior Analyst in the Power and Utilities group at Carbon Tracker. Prior to joining Carbon Tracker, Sriya worked for four years in Morgan Stanley’s Commodities division in New York, in a group that financed and developed solar projects in the United States and the Caribbean. She also spent two years in environmental consulting in Washington, D.C.
Sriya received her MBA, with a concentration in Change Management, from London Business School and a BA in Environmental Science from Columbia University.
Valeria EhrenheimJunior Gas Analyst
Valeria works in the Power and Utilities team as Junior Gas Analyst.
Before joining, she has been developing financial models for renewables and infrastructure investments through project financing. Passionate about financial valuation and climate change solutions, she finds a great fit in Carbon Tracker.
Valeria holds a BSc in Physics and a Masters in Green Management and Energy from Bocconi University. Music enthusiast, she studied jazz and opera singing for many years and she’s now part of a choir.
Lily ChauJunior Gas Analyst
Lily works in the Power & Utilities team as Junior Gas Analyst.
Before joining Carbon Tracker, she worked as a Robotic Process Automation (RPA) analyst in a technology consulting company, facilitating digital transformation in clients’ workplace.
She holds a master’s degree in Business Analytics from Warwick Business School, where she started to develop her passion for data science.
Lily has always been enthusiastic about nature and environmental sustainability. Besides her volunteer statistical project for The Royal Society for the Protection of Birds (RSPB), she has taken initiatives in other fields, such as artwork and local volunteering, to raise environmental awareness in both Hong Kong and the UK.
Nicolás GonzalezConsultant Data Scientist
Stefano AmbrogiHead of News & Communications
Stefano is Head of News and Communications. Previously with the European Climate Foundation as International Communications Manager, he co-founded a global communications network that supports organisations like CTI. He also 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 Hons 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.
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.
Helena GrayEvents and Communications Associate
Helena is the Events and Communications Associate at Carbon Tracker. Helena’s responsibilities include event organisation, relationship management and comms administration.
In 2018, Helena completed her undergraduate degree in Environmental Science and International Development at the University of East Anglia. During her studies, Helena’s interests focused in and around climate change, its societal impacts and actions to adapt and mitigate against it. During this time, she held positions on the committee for Amnesty International UEA where she was involved in organising fundraising events and promoting campaigns.
Prior to working at Carbon Tracker, Helena has interned for an NGO in London, volunteered as a conservation research assistant in Mexico and worked within the recycling and waste management sector in customer services and business engagement.
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.
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.
Jacqueline is also Carbon Tracker’s Diversity Champion and part of the Diversity, Equity and Inclusion Committee, responsible for nurturing a diverse and accepting workplace culture.
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.
Alex StaceyHR and Operations Assistant
Alex joined Carbon Tracker as the HR and Operations Assistant, having studied at the Victoria University of Wellington in New Zealand where he gained a Bachelor of Commerce majoring in Human Resource Management & Industrial Relations and Criminology.
Alex previously worked the Co-Operative Bank in NZ where he was a consultant and gained HR experience.
In July, Alex moved to London to work and travel Europe, and is currently playing rugby for Hammersmith and Fulham RFC.
Anthony HobleyCo-Chair of Advisory Board
Anthony was Chief Executive Officer of the Carbon Tracker Initiative from February 2014 to March 2019, and now is co-chair of the Advisory Board. 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.
Paul SpeddingResearch Adviser
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.
Harry BenhamSenior Adviser
Harry has over 30 years oil and gas industry experience with BP and Shell in various technical and commercial roles, mainly in major projects, in the UK North Sea, Europe, and the US. He is Director of Carbury Consulting an energy transition firm, and edits the industry blog dollarsperbbl.com.
Richard FollandPolicy and Government Affairs Adviser
Richard Folland has been Carbon Tracker’s policy and government affairs adviser since 2014. Richard has over 30 years’ experience as a diplomat and advocate, operating at the highest level, based in Europe and elsewhere. He has worked on the climate and energy agenda, as a policymaker and as a private sector advisor, for 15 years. A former head of international energy policy at the UK Foreign Office, Richard has also been JPMorgan’s European Advisor on Energy and Climate Change, the Executive Director of the Climate Markets and Investment Association (CMIA), and the Head of Energy and Environment at Inline Policy. He was Co-Founder of the strategic advisory firm, Sustineri, working with institutional investors on climate and sustainability issues.