- Secures new funding from largest shareholders in vote of confidence on strategic direction
- New capital supports internal changes as the company aligns with maturing carbon markets
- Follows appointment of new senior leadership to prepare the business for the next phase of growth
SINGAPORE – 25 April, 2024 – South Pole, the global carbon project expert and climate consultancy, is pleased to announce the closing of a new investment round, with participation from its largest shareholders including GenZero (a subsidiary of Temasek), Corisol, and Lightrock.
The additional capital will support and accelerate the pace of change and innovation already happening within South Pole, as the company prepares for the next phase of development in carbon markets and corporate climate action.
Under the leadership of their Interim CEO, John Davis, South Pole has made significant progress on several important initiatives and enhancements to its internal systems and processes. These include an establishment of an independent risk function and dedicated Chief Risk Officer, initiation of a new diligence process of the company’s project portfolio including action plans for risk mitigation, as well as the recruitment of new senior leadership, notably the appointment of sustainability leader and former HSBC executive Dr Daniel Klier as CEO.
Daniel Klier, Incoming CEO of South Pole, said: “We are at a critical juncture for South Pole, climate action, and the carbon markets. South Pole has pioneered many climate innovations since 2006, and this investment round is about ensuring we remain at the forefront of a maturing sector where trust and transparency are paramount.
We are grateful for our investors’ confidence and support in our new strategic direction, which involves numerous internal changes to leadership, processes, systems and our operating model. We have been doing this to ensure trust and transparency remain at the core of our company’s next chapter, and importantly so we can continue to have a positive climate impact at scale. I am excited about the steps we are taking and what this business can achieve for clients, countries, and the climate.”
About South Pole
South Pole is the world’s leading carbon project expert and climate consultancy.
Since 2006, South Pole has been a trusted partner and advisor to governments, public sector organisations, and leading businesses on their decarbonisation journeys. South Pole serves over 1,000 clients across the world, and its global team of experts has helped many Fortune 500 businesses implement comprehensive strategies that help build resilience and turn climate action into long-term business opportunities.
In line with its mission to deliver climate impact at scale, South Pole has used the power of markets to help channel climate finance to over 850 projects in more than 50 countries across the globe. To date, these projects have helped reduce over 200 million metric tonnes of CO2 emissions, accelerated low-carbon transformations across several sectors, and provided measurable benefits to communities vulnerable to climate change.
The business is supported by world-class investors, including Temasek’s GenZero, Lightrock, Corisol, and Salesforce Ventures.
South Pole is a social enterprise recognised by the World Economic Forum’s Schwab Foundation, and committed to becoming a B Corp globally across all of its local entities.
For more information, visit www.southpole.com or LinkedIn, X (formerly Twitter), Instagram, and Facebook.
About GenZero
GenZero is an investment platform company focused on accelerating decarbonisation globally. Founded by Temasek, it seeks to deliver positive climate impact alongside long-term sustainable financial returns by investing in opportunities with the potential to be nurtured into impactful and scalable solutions.
Driven by a common purpose to decarbonise for future generations, GenZero recognises the need for a holistic and integrated approach to achieve a net zero world. It adopts a flexible investment approach across three focus areas to drive climate impact: (i) nature-based solutions that help protect and restore our natural ecosystems while benefiting local communities and biodiversity; (ii) technology-based solutions that deliver deep decarbonisation impact; and (iii) carbon ecosystem enablers which refer to companies and solutions that support the development of an effective, efficient, and credible carbon ecosystem.
For more information on GenZero, visit https://www.genzero.co.
