General Atlantic launches climate change investment unit, ex-BP CEO Lord Brown named chairman

Growth investment major General Atlantic has launched a new operation targeting climate change deals with former BP group CEO Lord Browne as its chairman.

BeyondNetZero will aim to identify and scale innovative solutions focused on meeting and exceeding net zero emissions targets.

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Lord Browne was group CEO of BP from 1995 to 2007. He said, “Climate change is the biggest threat to life, as we know it.

“The actions we need to take affect almost all aspects of production and consumption – a new fast-evolving industrial revolution of enormous scale.

“I am delighted that the specific expertise of the BnZ team will be combined with General Atlantic’s focus on working with growing businesses in rapidly changing sectors.

“This combination will create a distinctively differentiated approach to energy, industry and the consumer.”

BnZ will focus on opportunities related to decarbonisation, energy efficiency, resource conservation and emissions management, the firm said.

Bill Ford, chairman and CEO of General Atlantic, said, “Addressing global climate change requires both a systemic transformation of the energy economy and scale of investment never seen before.

“Technology, innovation and entrepreneurship will play a vital role in this monumental transition.

“Growth equity is uniquely positioned to drive this shift and support founders in deploying innovative solutions at scale.

“With the BnZ team, we believe we can create meaningful progress by harnessing our long-held belief in the ability of global entrepreneurship to shift the paradigm.”

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