Paul Clements-Hunt, the former head of the UN Environment Programme Finance Initiative (UNEP FI), has joined Matthew Kiernan’s Inflection Point Capital Management in an advisory role.
Clements-Hunt, who stepped down from the UNEP FI in February this year after 12 years in the role, has joined the sustainable fund venture as Global Advisor. He runs his own advisory firm called the Blended Capital Group, and wrote the recent ‘Lenses and Clocks’ report looking at financial stability and systemic risk.
Kiernan, joint founder of pioneering environmental, social and governance (ESG) research firm Innovest Strategic Value Advisors, launched Inflection Point in 2010 after selling Innovest to RiskMetrics in 2009. RiskMetrics was subsequently acquired by index firm MSCI in a $1.55bn deal in 2010.
Clements-Hunt will be joining a high powered advisory panel at Inflection Point. Among those involved are David Pitt-Watson, the former CEO of Hermes Focus Asset Management, Roger Ballentine, the former chair of President Clinton’s Task Force on Climate Change, Rob Bauer, the University of Maastricht professor who is aformer Head of Research at Dutch pension fund investor APG and Takejiro Sueyoshi, sustainability and climate change advisor to Japanese Prime Minister Yukio Hatoyama.
The appointment comes as London and Toronto-based Inflection Point says it is planning to target high net worth investors in the BRIC [Brazil, India and China] countries – who have an asset pool estimated at $47trn.
Kiernan says they are “much more attuned to the emerging sustainability trends and challenges around climate change, energy security, resource depletion, pollution and supply chain issues”.
Kiernan said: “We believe that the decision to engage directly with the dynamic families and entrepreneur investors in the BRICs countries, as well as the increasingly powerful investment institutions found in these markets is both strategic and timely.”
Clements-Hunt said there is significant “sustainability momentum” in the BRICs, pointing to the fact that China has put sustainability at the heart of its 12th five-year plan, alongside a rapidly expanding high net worth community aware of the impact of pollution and urban development.