Ex-BP Chief Exec Joins Equity Firm

Ex-BP Chief Exec Joins Equity Firm
General Atlantic has announced that Lord John Browne of Madingley has joined the firm as a senior advisor, based in London.

General Atlantic has announced that Lord John Browne of Madingley has joined the firm as a senior advisor, based in London.

Browne will advise the firm on environmental, social, and governance considerations, with a particular focus on the path to net zero emissions, General Atlantic revealed. He will work with the company to find new ways to invest in climate solutions and help develop corporate strategies for addressing global climate change, General Atlantic noted.

From 1995 to 2007, Browne served as BP plc’s group chief executive. Under his leadership, BP sought to go “Beyond Petroleum”, setting internal emissions reduction targets and launching new businesses in renewable and alternative energy, General Atlantic highlighted. Browne joined energy focused private equity firm Riverstone in 2007 and served as co-head of the firm’s $3.4 billion renewable energy and power fund. He is chairman of Pattern Energy, a California-based wind and solar power developer, and Wintershall Dea, Europe’s largest independent oil and gas producer. Browne was knighted in 1998 and made a life peer in 2001.

“John has dedicated his efforts to the energy transition for decades,” Bill Ford, the chairman and chief executive officer of General Atlantic, said in a company statement.

“He has an extensive knowledge of the entire energy value chain and understands the importance of ensuring that the planet’s biggest problems are addressed commercially. His intellect and ability to solve complex problems will bring tremendous value to our firm’s work in sustainability and strengthen our partnerships with businesses that are creating the sustainable technologies of the future,” he added.

Commenting on his new role, Browne said, “addressing global climate change requires a systemic transformation at a pace and scale never seen before”.

“It is a challenge which has shaped my own career since the 1990s. Investment in engineered climate solutions now needs to increase significantly, and I look forward to working with General Atlantic to help shape the future of climate investing,” he added.

General Atlantic describes itself as a leading global growth equity firm providing capital and strategic support for growth companies. The business was established in 1980 and has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.

To contact the author, email andreas.exarheas@rigzone.com



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