Former BP boss Lord John Browne has joined a leading global growth equity firm as a senior advisor, based in London.
New York-headquartered General Atlantic said Lord Browne will instruct the firm on “environmental, social and governance considerations”, with a particular focus on the path to net zero emissions.
He will also be tasked with finding “new ways to invest in climate solutions”, and help to develop “corporate strategies for addressing global climate change”.
Lord Browne, who was knighted in 1998 and made a life peer in 2001, spent the entirety of his career in oil and gas working for BP, serving as group chief executive from 1995-2007.
During that period, he led the company through a period of major growth and change, including BP’s merger with Amoco in 1998, which created the first supermajor.
He also spearheaded efforts to rebrand the company as “Beyond Petroleum” and launched new businesses in renewable and alternative energy, although some thought he jumped the gun.
In 2007, Lord Browne joined Riverstone, an energy-focused private equity firm. He served as co-head of the firm’s $3.4 billion renewable energy and power fund which, at the time, was the world’s largest.
Lord 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.”
Bill Ford, chairman and chief executive officer of General Atlantic, 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.
“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.”
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