Local weather advisor South Pole has named a brand new chief government three months after the earlier head stepped down.
Dr Daniel Klier, a finance and consultancy veteran who previously held roles in McKinsey and HSBC, will step into the highest job in Might, because the Swiss firm and carbon undertaking developer prepares for development whereas “strengthening belief, integrity and transparency in its personal enterprise and the broader market”, its assertion on Wednesday mentioned.
South Pole was accused of overselling carbon credit from a serious forest safety scheme in Africa following an investigation final 12 months.
Klier was most not too long ago the chief of ESG E book, a supplier of company sustainability information and rankings. He labored at HSBC financial institution from 2013 to 2021, the latter half of his time there as world head of sustainable finance. Klier was a accomplice at consultancy McKinsey & Firm from 2005 to 2013. He’s presently on the board of the GRI sustainability reporting commonplace, and worldwide initiative Sustainable Vitality for All.
Klier will exchange South Pole’s caretaker chief John Davis, who had since November been filling in for predecessor and firm co-founder Renat Heuberger.
Heuberger had stepped down amid intense scrutiny final 12 months over a forest administration undertaking in Zimbabwe, during which South Pole was the carbon asset developer. Media and activist investigations alleged that the undertaking oversold tens of millions of carbon credit – every purported to characterize a tonne of carbon dioxide emissions saved – and delayed notifying consumers of the error.
South Pole initially mentioned the undertaking didn’t overissue credit, however later exited the enterprise in October, saying it would study from the expertise and improve its high quality and threat controls. Carbon credit score certifier Verra is investigating the undertaking and has suspended it from issuing extra credit.
Klier mentioned on LinkedIn that he was “drawn to South Pole as a agency that was crucial within the improvement of the carbon market and some of the iconic manufacturers within the local weather and sustainability house”.
“South Pole should now put together for the subsequent stage of world local weather motion. Meaning enhancing our technique, making certain we innovate, and that we meaningfully advance our threat and compliance processes. Belief and transparency will likely be on the coronary heart of our subsequent chapter”, he mentioned in an organization assertion.
South Pole mentioned interim CEO Davis will stay at “an government degree” after the change of guard. Final month, the agency appointed its first chief threat officer, Antoine Predour. Heuberger has remained senior advisor since relinquishing his put up.
South Pole additionally advises governments and companies on sustainability technique. Its funders embrace personal fairness agency Lightrock, software program large Salesforce, and Singapore’s state investor Temasek. South Pole had been valued at over US$1 billion in 2022, earlier than its carbon undertaking troubles.
