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Hermes CEO Nusseibeh steps down as non-executive chair of Carbon Tracker

Board member Tauni Lanier will serve as interim chair

Saker Nusseibeh, CEO of Hermes Investment Management, has stepped down as a director of the Carbon Tracker Initiative, the influential think tank credited with pioneering the stranded assets/carbon bubble concept.

The termination of his appointment, to which the chairmanship was linked, was effective as at September 19, according to a filing at Companies House.

Nusseibeh was appointed non-executive chair of Carbon Tracker in October 2017. It preceded the acquisition of governance pioneer Hermes by American listed firm Federated Investors from the BT Pension Scheme.

Carbon Tracker told RI in a statement: “We can confirm that Saker Nusseibeh has stepped down as Non-executive Chair of Carbon Tracker. We are grateful for all the work that he has done for our organisation over many years, including 18 months as Non-executive Chair, and will continue to do in an advisory capacity.

“We understand the constraints on his time commitments. Looking ahead, and following a group governance decision to include Planet Tracker under the chairmanship, we will determine the next appointment of chair on this basis. In the interim Tauni Lanier will act as chair of Carbon Tracker.”

See RI’s coverage of Planet Tracker here.

Nusseibeh, the Palestinian-born founder of the pro-social investment grouping The 300 Club, said at the time of his appointment:

“We need to continue to work to ensure that the world does not breach the scientifically-guided objectives we have set for ourselves on climate change.”Nusseibeh took over from British environmentalist and entrepreneur, Jeremy Leggett, who chaired the initiative since 2010 and left to focus on his solar portfolio.

“We understand the constraints on his time commitments.”

In March this year, Anthony Hobley stepped down as CEO of Carbon Tracker and terminated his board directorship but became Co-Chair of the Advisory Board alongside founder and executive director Mark Campanale.

Carbon Tracker’s current board:
Cary Krosinsky, the Yale University lecturer and co-founder of the Sustainable Finance Institute;
Paul Bodnar, a former aide to President Obama who is managing director of the Rocky Mountain Institute;
Meg Brown, director and head of sales outside of North America at Impax Asset Management, and a former Director of Climate and Sustainability Research at Citi;
Emma Hunt, a former investment consultant and ex co-head of Hermes Equity Ownership Services, who is Head of Responsible Investment at St. James’s Place, the wealth management group.
Dr.Tauni Lanier, Sustainability Director at World Wide Generation, a UK fintech firm, and formerly the first Managing Director of the Dow Jones Sustainability Group Index.