Former UK Energy and Clean Growth Minister Claire O’Neill has joined the board of London-based green investment consultancy Ikigai Capital Limited.
She joins the company as a Non-Executive Director to guide its mission to bridge the divide between investors, technology companies, large energy users and the public sector and help address the ‘stranded asset’ risks for industry and infrastructure.
Ikigai claims to make “net zero investable” by helping clients reduce their carbon emissions and improve profitability while future-proofing assets for a sustainable economy.
It cites research by ShareAction, which found out of more than $70 trillion (£54tn) of assets under management by the top 75 fund managers, around $35 trillion (£27tn) is exposed to climate change risks.
Ms O’Neill was Minister of State at the Department for Business, Energy and Industrial Strategy (BEIS) from July 2017 to July 2019 and authored the UK’s Clean Growth Strategy, negotiated the offshore wind sector deal, brought forward the net zero legislation and led the government in its successful bid to host COP26, for which she served as President-Designate until her departure from politics earlier this year.
She is also currently Managing Director for Climate and Energy at the World Business Council for Sustainable Development (WBCSD).
Ms O’Neill said: “The UK’s commitment to achieving net zero by 2050 has focused minds on how to translate talk into action and I have long been impressed with the Ikigai team’s ability to turn theoretical commitments into the practical steps needed to help companies structure and source secure funding for technology-neutral, integrated energy and transport decarbonisation solutions.
“In less than two years, thanks to their commitment and passionate approach, they have positioned themselves at the heart of the energy transition by delivering practical and investable solutions, linking key public and private stakeholders and the funding community. I look forward to helping them move the business to the next stage.”