ThomasLloyd seeks independent Non-Executive Chair to support accelerated growth phase
Zurich, 22 March 2021. ThomasLloyd, one of the world’s leading specialist impact investors and providers of climate financing, has announced that it has activated a global search for a Non-Executive Independent Chair to join its Board of Directors. Founder, Michael Sieg will then hand over the Chairman role, remaining Group Chief Executive.
It is intended that a Non-Executive Independent Chair will bring a different perspective to board deliberations, whilst also providing independent oversight and constructive challenge to the executive management team. This demonstrates our continued commitment to the highest standards of corporate governance, both at a Board level but also throughout the organisation.
ThomasLloyd recently announced the appointment of Miriam Plater, Chief People Officer joining Vivienne Maclachlan, Chief Financial Officer as members of the Board, taking the female executive Board quota to 50%.
ThomasLloyd is a pioneer in impact investing in high-growth and emerging markets, having been investing in real assets across the full asset life cycle of development, construction and operation of sustainable infrastructure projects since 2010.
Over the past decade the business has continued to grow from strength-to-strength, diversifying into new markets for real asset investments and expanding the product suite to reach a wider range of investors seeking to sustainably deploy their capital. During this time, ThomasLloyd has also become an accredited partner of the IFC, a member of the World Bank Group, and an authorised partner of the European Investment Bank.
In 2019, the ThomasLloyd business delivered revenues of €75 million, representing a 29% CAGR over the last 5 years and an operating profit margin of 19%. As of 31 December 2020, ThomasLloyd has successfully raised over €1.3 billion of aggregate capital for deployment in sustainable infrastructure. These robust set of numbers reflect the expertise of ThomasLloyd’s team, successful execution of strategy and the exciting opportunity that exists for impact focused investors across real assets in fast-growing economies and emerging markets.
In 2011, ThomasLloyd provided financing for construction and development of the first utility-scale solar power plant in the Philippines. Today, the firm is invested in three biomass plants in the Philippines with 70 MW and three solar power plants in the Philippines with 80 MW, together delivering clean energy to 957,000 people and reducing CO2 by 123,595 tonnes p.a. In India, ThomasLloyd is invested in six operational solar power plants, across four states with a total capacity of 234 MW. Capacity for the development and construction of an additional 150 MW is already funded.
Michael Sieg, ThomasLloyd’s Group Chief Executive, said: “The global search for a Non-Executive Independent Chair reflects our continued commitment to achieving the highest standards of corporate governance in light of the significant growth that we have experienced over the past 10 years and in readiness for our future plans.
“We are incredibly proud to have been an early pioneer in sustainable real asset investments in high-growth and emerging markets. More so, we are proud of the genuine and quantifiable impact that our investments have had on people’s lives, communities and in helping to reduce global CO2 emissions. Since our inception, we have invested predominately in sustainable energy infrastructure which supports the transition to a clean energy system. Our funds meet the highest sustainability category under the new EU Sustainable Finance Disclosure Regulation with the ThomasLloyd Sustainable Infrastructure Income Fund listed on Luxembourg stock exchange’s Green Exchange.
“In the past decade we have continued to invest in our people, attracting high-calibre and world class talent. We have broadened and deepened our investment offering and have established a firm footing in the Swiss market, with our headquarters in Zurich and have undergone a significant digital transformation as we prepare to offer our impact investment solutions globally and directly to private investors via an innovative digital offering.
“With our strong corporate growth and increasing investor demand, we believe it is the right time to conduct a global search for a Non-Executive Independent Chair to support the strengthening of our governance framework in light of our growth trajectory, and laying the foundation for the business to grow to the next level.”
ThomasLloyd is signatory to the UN Principles for Responsible Investments (UN PRI), supports various initiatives for sustainable investment such as the United Nations Environment Programme (UNEP), United Nations Global Compact, the Global Impact Investment Network (GIIN) and the Climate-Related Financial Disclosures Task Force (TCFD).