The Asian Banker Thursday, 18 July 2024

CBA invests in global climate specialist Wollemi Capital

5 min read

Commonwealth Bank of Australia (CBA) has made an equity investment in Wollemi Capital, as part of the global climate specialist investment firm’s Series A capital raising.

Headquartered in Sydney and with staff and investments across Australia and the US, Wollemi invests in the businesses and projects vital to supporting the global transition to net zero, with a focus on food, agriculture and natural capital, energy transition, and climate services.

Wollemi was created in 2021 by co-founders Tim Bishop and Paul Hunyor, who lead a global team of climate specialists. Bishop was formerly global head of Macquarie Capital and Hunyor was head of Asia at Boston Consulting Group’s Corporate Venturing unit.

Andrew Hinchliff, group executive of institutional banking and markets, CBA said: “This investment will enable CBA and Wollemi to collaborate on a broad range of initiatives aligned to the bank’s commitment to play a leadership role in Australia’s transition and ambition to help our customers reduce their emissions.

Wollemi’s highly credentialed founders have strong networks and proven track records combining climate impact, private equity and venture capital expertise with experience in financing, building and scaling global business across infrastructure, renewables and technology.

“Our strategic investment in Wollemi is intended to accelerate the innovation needed to drive Australia’s transition across key sectors, as well as develop carbon markets as an important transition tool. It will significantly contribute to the development of CBA’s climate, carbon and biodiversity expertise and our ability to play a leadership role in supporting investments in climate-linked businesses as they scale their operations,” Hinchliff said.

Re-disseminated by The Asian Banker

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