Former BP boss Lord Browne joins private equity firm General Atlantic
Former BP boss Lord Browne has today joined private equity firm General Atlantic to advise it on environmental and social issues, including the road to net zero.
The New York firm said that Browne would work with the firm to “find new ways to invest in climate solutions, and help develop corporate strategies for addressing global climate change”.
During his 12-year career at the oil giant, Browne oversaw BP’s merger with fellow US oil firm Amoco, a deal which created the world’s first oil “supermajor”.
He also sought to rebrand the FTSE blue-chip, linking its initials to the phrase “Beyond Petroleum”.
It was Browne who set the firm’s first emissions reduction target, a 10 per cent cut by 2010, which was achieved in 2001.
General Atlantic chief executive Bill Ford said: “John has dedicated his efforts to the energy transition for decades.
“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.
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“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”.
The new role adds to Browne’s extensive portfolio, which includes board roles at IHS Markit and Spark Cognition.
He is also currently the chair of Wintershall Dea, Europe’s largest independent gas and oil producer by output and Chairman of the Francis Crick Institute for biomedical research.
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.”