LONDON, July 12 /PRNewswire/ -- Sir Nicholas Stern will join IDEAGlobal
Group as Vice Chairman, effective
13 August 2007. IDEAGlobal Group is a leading independent global research
organisation. Sir Nicholas' work will encompass overall strategy, market
development, and analysis.
Sir Nicholas recently left the UK government where, inter alia, he was
Head of the UK Government Economic Service, directed the writing of the
Report of the Commission for Africa and, more recently, led the Stern Review
on the Economics of Climate Change. Such expertise, will fit well with the
broad-ranging economics and analysis conducted by IDEAglobal and also with
the aims of IDEAcarbon, recently launched to provide market analysis and rate
any asset with carbon collateral providing a standard risk measure for
participants in this rapidly growing sector.
Sir Nicholas noted: " I am delighted to be joining the IDEAGlobal Group
as Vice-Chairman. I'm looking forward to working with the group on economic
policy issues as well as on the future development of the carbon market. I am
very happy to be joining a research organisation which has a history of
fostering positive changes to the global economy and developing markets".
In welcoming Stern, Shandi Modi, CEO and founder of the IDEAGlobal Group,
noted: "I've known Nick for many years; he has done a tremendous job in
shaping the attention of the global community to take action on climate
change which is now happening. At IDEA he will undoubtedly play a major role
in adding strength to our goal of harnessing the institutional investment
sector to play a meaningful role through the development of a new asset class
in Carbon, Nick will also be advising on our analytical work in other asset
classes we cover as well in helping us think through future strategy".
"Nick's knowledge of the economics of climate change and his commitment
to promoting the effective use of markets to reduce carbon emissions will
provide tremendous impetus to our work. His knowledge and contacts will help
us enormously", said Ian Johnson, Executive Chairman of IDEAcarbon.
Sir Nicholas will begin his appointment on 13 August 2007. As a former
Crown servant, Sir Nicholas has applied for and received Government approval
for this appointment in the normal way. He is also (half-time) IG Patel
Professor of Economics and Government at the London School of Economics and
Political Science. He will be working part-time at IDEA, consistent with his
responsibilities at LSE and HSBC.
IDEAGlobal Group includes IDEAglobal, which focuses on capital markets
and economic trends and market analysis; and IDEAcarbon, which focuses on
carbon markets and ratings of carbon investments.
Notes to editors
IDEAGlobal Group, is an independent, global, research organization, with
its headquarters in Singapore, and subsidiaries in New York and London.
IDEAGlobal Group is a leading supplier of independent and impartial advice to
50 central banks in the formation of policy and is read by financial
professionals in over 1,000 dealing rooms worldwide. Of the 50 largest
financial institutions as ranked by Euromoney, all but four are clients of
IDEAglobal. Group companies include IDEAglobal and IDEAcarbon.
IDEA has over 80 full time research staff as well as access, on an
exclusive basis, to a group of expert academics at the London School of
Economics, and an active Advisory Board of former central bankers and former
CEOs of investment banks, which includes Mr Ng Kok Song, MD, Public Markets,
GIC, Singapore, and Professor Helmut Schlesinger ex-president of the Deutsche
IDEA was established in 1989. Our research covers all the major asset
classes including stocks, bonds, currencies, credit default swaps, energy and
commodities (including the emerging carbon markets). As an independent
observer of international macro policy in OECD countries and most of the
emerging countries in the world, IDEA enjoys a position of trust and respect
among its global community of clients which numbers some 30,000
IDEA's focus on anticipating the evolution of risk (political, macro
policy, and market) has enabled it to develop an experienced and integrated
understanding of the major dominant forces driving market sentiment and
public policy in many countries and trading blocs.
IDEAcarbon is a leading professional services provider to the
carbon finance community. Our key offerings are ratings, funds valuation and
strategic advice to those working within the environment and energy sectors.
Governments, financial institutions, corporations, developers and traders can
all benefit from our forward-looking, independent and objective advice. A
dedicated team of expert professionals work to provide our clients with
tailor-made risk management solutions.
IDEAcarbon's strength lies in its depth. The company is
chaired by Ian Johnson, formerly VP Sustainable Development, at the World
Bank. Sam Fankhauser runs the strategic advice division and was previously
deputy chief economist at the EBRD. Our sister company, IDEAglobal has
provided specialist advice to financial markets since 1989. Our company comes
to this emerging market with almost two decades of experience in market
intelligence. This has allowed us to develop rigorous proprietary tools and
models in conjunction with the finest intelligence available.