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South Pole (company)

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South Pole
Company typePrivate
IndustryEnvironmental
Founded2006
FounderPatrick Bürgi, Thomas Camerata, Renat Heuberger, Ingo Puhl, Christoph Sutter, Christoph Grobbel, Marco Hirsbrunner, Christian Dannecker
Headquarters
Zurich
,
Switzerland
Number of locations
23
Area served
Worldwide
Key people
Renat Heuberger – CEO, Alexandra Connac- Director, Head of Global Legal & Compliance, Christoph Grobbel - Chairman & CFO, Martin Christen- Senior Director Corporate Functions, Franziska Sinner - Senior Director, Head of Sustainability Consulting, Stefan Rösch- Executive Director, Head of Climate Solutions, Isabel Hagbrink- Director of Communications, Marco Hirsbrunner- Senior Director, Global Operations, Naomi Rosenthal- Head of Solutions Practices, Martin Stadelmann, Senior Director, Climate Investments, Sarah Boissinot, Director of Operations, Consultancy, Marco Magini - Executive Director, Climate Projects, Ladaporn Kat Khunikakorn- Regional Director, Southeast Asia, Christian Dannecker- Senior Director, Global Sourcing, Sophie Deheslle- Associate Director, Head of Operations, Climate Solutions, Andrea Rumiz- Director, Key Accounts, Bamshad Houshyani- Senior Director, Head of Project Development & Implementation
ProductsCarbon Offset and Renewable Energy Certificates, Corporate Climate Risks & Opportunities, Land Use and Water, Supply Chain Advisory, Renewable Energy Solutions, Climate Policy, Public Advisory, Climate-Smart Cities, Digital Lab, Sustainability Marketing, Green Finance, Fund Advisory
Owner92% employee owned
Number of employees
700
Websitewww.southpole.com

South Pole is a Swiss carbon finance consultancy founded in 2006 in Zurich, Switzerland. South Pole's business covers project and technology finance, data and advisory on sustainability risks and opportunities, as well as the development of environmental commodities such as carbon and renewable energy credits. The company has 23 offices across Europe, Africa, Asia Pacific, North America and South America.[1]

Timeline

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South Pole was founded in 2006 by graduates of the Swiss Federal Institute of Technology (ETH) including Patrick Bürgi, Thomas Camerata, Renat Heuberger, Ingo Puhl, and Christoph Sutter, and joined by Christoph Grobbel, Marco Hirsbrunner, and Christian Dannecker as equal partners. The company originally started as a spin-off from the ETH Zurich as the non-profit ‘myclimate.’

Following the success of myclimate, the founders decided to position climate change as a business opportunity, and ‘South Pole Carbon’ was born.[2] The company rebranded to ‘South Pole Group’ in 2015, and then again to the current ‘South Pole’ in January 2018.[3]

In 2012, South Pole acquired a major stake in Australian carbon farming project developer and offset retailer, Sydney-based Climate Friendly.[4] In 2017, the company acquired Climate Friendly's domestic and international carbon and renewables division outright, which at that point was a majority-owned subsidiary of the South Pole.[5] In 2019, South Pole sold its majority share in Climate Friendly back to the Australian subsidiary's management team.[6]

In 2021, a 10% stake in the South Pole was bought by Lightrock, a leading global impact investor backed by LGT and the Princely House of Liechtenstein.[7] The investment was reported to be in the range of “€20 million-plus.”[8] Also in 2021, South Pole acquired Belgium-based climate consultancy CO2logic[8] to expand its offerings in Belgium and France.[9] This was followed in 2022 by the acquisition of Italy-based Carbonsink, with offices in Milan, Florence, and Maputo.[10]

By 2019, South Pole claimed to have reduced or removed over 170 million tonnes of CO2.[11]

Projects

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South Pole has developed more than 1000 projects in over 50 countries,[12] including reforestation and forest protection, renewable energy, habitat restoration, clean cookstoves, and other project types.[13]

Notable Clients and Partnerships

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South Pole has provided services or provided offsets to major companies including Nestlé,[14] Gucci,[15] EY,[16] Hilton,[17] and ALDO Group.[18]

Awards

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South Pole is a regular winner of a number of Environmental Finance’s Annual Voluntary Carbon Market Rankings, including four awards in both 2018[19] and 2019,[20] one award in 2020,[21] and three awards in 2021, including as Best Project Developer in the new category of Blue Carbon.[22]

Controversy

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In 2023, doubt was cast over the integrity of the South Pole main project in Kariba, Zimbabwe by several media reports, who questioned whether the large quantities of carbon credits generated by the project were backed by real emission reduction.[23][24][25] On the 27th October 2023, South Pole cut all ties with the project, confirming that the project had failed to meet standards.[26]

References

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  1. ^ "South Pole Offices around the world". South Pole. Retrieved 2022-01-25.
  2. ^ "Earthworm - A non-profit driven by the desire to positively impact people and nature - Earthworm". English. Retrieved 2021-05-21.
  3. ^ "Building climate change leadership: rebranding to south pole group". Eco-Business. Retrieved 2021-05-21.
  4. ^ Vorrath, Sophie (2012-04-12). "Mixed Greens: South Pole grabs piece of Climate Friendly". RenewEconomy. Retrieved 2021-05-21.
  5. ^ "South Pole Group acquires Climate Friendly". SwissCham. Retrieved 2021-05-21.
  6. ^ Friendly, Climate (2019-02-22). "Climate Friendly Team Completes Management Buy-out". Climate Friendly. Retrieved 2020-07-14.
  7. ^ "Lightrock takes 10% stake in South Pole - Environmental Finance". www.environmental-finance.com. Retrieved 2022-01-25.
  8. ^ a b "South Pole buys Belgian climate consultancy CO2logic « Carbon Pulse". Retrieved 2022-01-25.
  9. ^ "A big deal for action against climate change: CO2logic joins the South Pole group". South Pole. Retrieved 2022-01-25.
  10. ^ "Carbonsink joins South Pole: stronger together for climate impact – South Pole News". South Pole. Retrieved 2022-01-25.
  11. ^ "Climate, Carbon and Energy Solutions".
  12. ^ "Social innovation can help in the fight against climate change". World Economic Forum. Retrieved 2022-01-25.
  13. ^ "South Pole has developed over 700 climate action projects worldwide". South Pole. Retrieved 2022-01-25.
  14. ^ Nestlé (2021-02). Nestlé’s Net Roadmap. https://www.nestle.com/sites/default/files/2020-12/nestle-net-zero-roadmap-en.pdf. Retrieved 2022-01-25
  15. ^ Preuss, Simone (2021-01-29). "Gucci presents expanded, nature-positive climate strategy". FashionUnited. Retrieved 2022-01-25.
  16. ^ O’Dea, Blathnaid (2021-10-21). "EY becomes carbon negative, says carbon neutrality 'isn't enough'". Silicon Republic. Retrieved 2022-01-25.
  17. ^ "Hilton partners with South Pole Group for carbon neutral meetings in the Netherlands". Business Traveller. Retrieved 2022-01-25.
  18. ^ Group, ALDO (2021-11-08). "The ALDO Group pursues its commitment towards climate action". GlobeNewswire News Room. Retrieved 2022-01-25. {{cite web}}: |last= has generic name (help)
  19. ^ "Optimism trumps uncertainty - Environmental Finance". www.environmental-finance.com. Retrieved 2022-01-25.
  20. ^ "Rising to the challenge - Environmental Finance". www.environmental-finance.com. Retrieved 2022-01-25.
  21. ^ "Strong growth predicted for voluntary carbon market - Environmental Finance". www.environmental-finance.com. Retrieved 2022-01-25.
  22. ^ "Annual Market Rankings 2021 - Environmental Finance". www.environmental-finance.com. Retrieved 2022-01-25.
  23. ^ Blake, Heidi (2023-10-16). "The Great Cash-for-Carbon Hustle". The New Yorker. ISSN 0028-792X. Retrieved 2023-10-22.
  24. ^ Vonplon, David (2023-07-17). "Climate offset company South Pole faces accusations of selling out". Neue Zürcher Zeitung (in Swiss High German). ISSN 0376-6829. Retrieved 2023-10-22.
  25. ^ "Faulty Credits Tarnish Billion-Dollar Carbon Offset Seller". Bloomberg.com. 2023-03-24. Retrieved 2023-10-22.
  26. ^ Twidale, Susanna (2023-10-27). "Carbon offset firm South Pole cuts ties with Zimbabwe forest project". Reuters. Retrieved 2023-12-21.
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