HSBC Asset Management announced today the launch of a new Climate Technology (Climatech) team, along with the appointments of Christophe Defert as Head of Climate Technology Venture Investments, and Michael D’Aurizio as Investment Director, Climate Technology.
According to HSBC, the establishment of the new team forms part of its strategy to expand direct investment capabilities in alternatives. The Climatech team will develop a venture capital investment strategy providing clients with opportunities to invest globally in technology startups who are addressing the challenges of climate change, with a focus on companies across the energy, transportation, insurance, agriculture and supply chain sectors. The team will report into Remi Bourrette, Head of Venture and Growth Investments.
The team’s first is expected to be launched by the end of this year, with an intended cornerstone investment from HSBC.
Defert and D’Aurizio both join HSBC after holding senior positions at energy services and solutions company Centrica. Defert spent 10 years at Centrica most recently serving as Vice President, Centrica Innovations – Ventures, where he built and led Centrica Innovations’ Venture effort globally. D’Aurizio served as Investment Director, Ventures at Centrica, where he helped build and run a corporate VC fund investing in startups transforming energy and services markets.
Joanna Munro, Global CIO, HSBC Asset Management, commented:
“Technology will play a major role in enabling the energy transition, funded by public money, private capital and philanthropic commitments like HSBC’s Climate Solutions Partnership with the World Resources Institute and WWF. The appointment of this team will allow us to provide clients with early exposure to sectors which are just emerging as such, but will become major sources of financial and environmental value over the decade.”