Former NSW treasurer Matt Kean has taken a senior position in Wollemi Capital, the climate investment firm run by ex-Macquarie Capital chief Tim Bishop.
After a 13 year career in the NSW State Government, followed by his recent appointment as chair of the Climate Change Authority, Kean is joining Wollemi in a full-time role as director of strategic partnerships and regulatory affairs.
Kean held a number of senior roles including serving as NSW Minister for Innovation and Better Regulation from 2017 to 2019, NSW Minister for Energy and Environment from 2019 to 2023, NSW Treasurer from 2021 to 2023 and Deputy Leader of the NSW Liberal Party from August 2022.
Kean was elected to the NSW parliament in 2011 and held a number of senior roles. These included NSW Minister for Innovation and Better Regulation, NSW Minister for Energy and Environment, NSW Treasurer and he was the Deputy Leader of the Liberal Party until the Coalition lost the last election.
Outspoken on environmental issues, Kean at times butted heads with his Liberal party colleagues, including recent criticism on Peter Dutton nuclear agenda.
During his time in politics, Kean was a leading advocate for action on climate and nature and a champion of more progressive energy and climate policies in the Liberal Party. He brings deep expertise in catalysing public and private action on climate.
Kean drove bipartisan support for climate initiatives and oversaw a significant expansion of NSW’s national parks. Hea also delivered the Electricity Infrastructure Roadmap — an ambitious 20 year plan to drive renewables into the NSW energy grid and accelerate the state’s decarbonisation.
Working alongside “some of the best investment brains in the country”
Wollemi Capital was co-founded in 2021 by Bishop and Paul Hunyor, the former head of Boston Consulting Group’s corporate venture unit in Asia.
Wollemi is by s number of high-profile and wealthy investors, including the Fairfax and Schwartz families, former Macquarie chief executive Nicholas Moore, Caledonia co-founder Mark Nelson and the Commonwealth Bank.
Bishop has long invested in assets exposed to the renewable energy transition. During his time at Macquarie, the firm spent £2.3 billion (almost A$4 billion) to acquire the British government-owned Green Investment Bank.
Commenting on Kean’s appointment, Bishop said Kean had been “in the room with national and global political, environmental and business leaders. He knows how to get things done whilst standing by his values and the environment. Importantly, the business community has great respect for him, and he speaks their language.”
Hunyor said Kean had “been one of the most sensible, pragmatic and passionate advocates in this country for the protection of our environment and strong climate action” and that he is a “natural fit for the plans and values of Wollemi Capital”.
Reflecting on his past work, Kean said, “My approach has considered the environmental benefits as well as the financial and economic opportunities – so I see this new role as continuing that work.
“Australian and global businesses have already realised the financial benefits of protecting the environment though many politicians have been slow to realise the global reality. Businesses are filling the gap and leading Australia into a low carbon future.”
He added, “I am sometimes known for my energy and enthusiasm but I have to say that I can’t remember being this excited. I get to work alongside some of the best investment brains in the country who have had proven and sustained success, who share my values, and have this amazing vision of deploying capital in a way that drives excellent environmental outcomes while creating enormous value.
“What I love about this role is the benefit of doing the right thing for the planet and the economy. I think this shows my faith in the economic benefits and opportunities of the energy transition and in a low-carbon economy.”