A Zurich-based provider of climate action solutions, agreed to sell its CO2-footprinting unit to a U.S. shareholder advisor.
South Pole Group will sell the CO2-footprinting spinoff to Institutional Shareholder Services (ISS), the biggest shareholder advisory. South Pole Group didn’t say how much ISS would pay for its Climate Neutral Investments business.
CNI established the world’s largest database on corporate climate change data and pioneered the leading, standardized investment carbon emission screening tools, South Pole Group said. The company thus became the largest remaining privately owned carbon emission data provider for the finance industry.
Milestone for Company Development
«For our company South Pole Group, this is certainly an historic milestone. From incubating the completely unknown space of investment carbon footprinting back in 2010, to growing the business and co-shaping our own market, to now finally selling the investment carbon footprinting business to a large financial industry player - it has been an absolutely amazing journey,» said Renat Heuberger, CEO of South Pole Group.
South Pole Group will use the money it will receive through the transaction to significantly scale its global sustainability business, which comprises the full range of environmental risk and performance assessment.
ETH Zurich Startup
South Pole Group was founded 11 years ago as a startup at ETH Zurich under the name of South Pole Carbon. Today it employs about 200 people in 16 offices across the world.
The company has helped shape the climate data market and the assessment of CO2 emissions in investments portfolios. South Pole Group for instance was employed as an advisor by Julius Baer private bank.
