Carbon Tracker hires Barclays’ Mark Lewis as MIFID II alters research landscape

Carbon Tracker has hired Mark Lewis, Head of European Utilities Research at Barclays and a member of the Taskforce on Climate-related Financial Disclosure (TCFD), as its new Head of Research, filling the void left by the recent departure of James Leaton.
Leaton left the think-tank – best known for its work on ‘un-burnable’ carbon and stranded assets – in February, after seven years, to join Moody’s Investors Service as Senior Credit Officer for Climate Risk. His appointment is part of an increasing focus on ESG by the ratings giant over the past year.
Lewis told RI his appointment as Head of Research at Carbon Tracker as, “the right move at the right time”.
He added that the move coincides with an “interesting time” for Carbon Tracker, as the effects of new financial regulation relating to research procurement – such as MIFID II – take effect. He believes that NGOs like Carbon Tracker are particularly well placed to influence and inform institutional investors on climate risks, as they “become more discriminating about where they take their research from” due to the costs now involved – costs which do not apply to advice given by NGOs.
Lewis also expressed his ambition to bring carbon pricing, which is an area he believes is coming back into prominence, into the “conversation” at Carbon Tracker, and is working on a new EU carbon price report to be published soon by the think tank.Prior to joining Carbon Tracker, Lewis was Head of European Utilities Research at Barclays for two and a half years, where he coordinated research on the sector and wrote thematic research on related energy and climate issues. It was during this time he was appointed to the Financial Stability Board’s TCFD – the body that created climate disclosure recommendations last year, which are now being endorsed by a number of governments in Europe, and are being considered for integration into EU regulation on corporate reporting.
Lewis also spent almost 14 years at Deutsche Bank, most recently as Managing Director and Global Head of Energy Research. He has also held positions as Chief Energy Economist at Kepler Cheuvreux and Deputy Head of Investor Relations at E.ON.
Carbon Tracker has made several other high-profile City and ESG appointments in recent months: In December, RI reported that Saker Nusseibeh, CEO of Hermes Investment Management, had been named its Non-Executive Chair. Nusseibeh’s appointment coincided with well-known responsible investment figures Meg Brown and Emma Hunt joining the Carbon Tracker board.