The Transition Pathway Initiative Global Climate Transition Centre (TPI Centre), part of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science, is pleased to announce the appointment of Carmen Nuzzo as the Centre’s new Executive Director.
Dr Nuzzo will take up her role at the beginning of May 2023. She has most recently been Head of Fixed Income at the Principles for Responsible Investment. Prior to joining the PRI in 2017, Dr Nuzzo was an Executive Director at Morgan Stanley focusing on Sustainable Economics. She started her career in 1993 at Salomon Brothers, subsequently working for Citigroup, with stints in the not-for-profit sector, including at ShareAction. She has a PhD in Capital Markets and Business Studies from the University of Bergamo.
The TPI Centre was established in June 2022 and formally launched in October 2022. It provides open data on corporations’ and sovereigns’ management and governance of their carbon emissions, as well as their carbon emissions pathways.
Dr Nuzzo said: “I am delighted and honoured to join the London School of Economics, one of the most exciting intellectual communities in the world. I look forward to joining the new TPI Global Climate Transition Centre and to working with its team, to ensure that it becomes a hub for research excellence, whilst retaining its unique focus on financial market participants, to speed up the transition to net zero.”
Adam Matthews, Chair of TPI & Chief Responsible Investment Officer for the Church of England Pensions Board, said: “This is a key appointment for the new TPI Global Climate Transition Centre. The Director will provide the executive leadership to ensure investors continue to have the independent, academically rigorous analysis they need as we rapidly increase the depth and breadth of TPI assessments. Investors have established this Centre to ensure we can not only understand what the transition means for the companies, sectors and government bonds we hold but also to play our part in providing those same companies, sectors and countries with the transition finance they need to meet their climate targets. I look forward to working with Carmen in this new role.”
Simon Dietz, Professor of Environmental Policy at the Grantham Research Institute on Climate Change and the Environment and Research Lead for TPI, said: “The TPI Global Climate Transition Centre is one of LSE’s leading examples of research impact on the world, and advances the strategic priority of creating a sustainable LSE. We are delighted that Carmen Nuzzo is joining us to take forward the work of the TPI Centre and deliver on its ambitious agenda to help fight climate change through rigorous research, and open data and analytics.”
The TPI Centre supports investors to understand the risks and opportunities posed by the low carbon transition. Through the provision of independent, academically rigorous, open-access data, it is intended that the Centre will be a key part of the financial architecture to support investment decision making through increased transparency and accountability of company transition plans.
The TPI Centre already tracks over 600 of the world’s largest high-emitting companies covering sectors such as steel, aviation and shipping amongst others, as well as the banking sector. It has recently published a draft framework to assess sovereign bond issuers on climate change. Over the coming years the Centre plans to increase its coverage to multiple-thousands of companies as well as new asset classes.