CBA has invested in Wollemi Capital as part of the global climate specialist investment firm’s Series A capital raising.

Formed in 2021, Wollemi is headquartered in Sydney with staff and investments across Australia and the US. It invests in businesses and projects vital to supporting the global transition to net zero. The firm’s investment focus is on food, agriculture and natural capital, energy transition, and climate services.

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CBA’s Group Executive Institutional Banking & Markets, Andrew Hinchliff, said: “This investment will enable CBA and Wollemi to collaborate on a broad range of initiatives aligned to the bank’s commitment to play a leadership role in Australia’s transition and ambition to help our customers reduce their emissions.

Wollemi: combining climate impact, private equity and VC expertise

“Wollemi’s highly credentialed founders have strong networks and proven track records. It combines climate impact, private equity and venture capital expertise with experience financing, building and scaling global business across infrastructure, renewables and technology.

“Our strategic investment in Wollemi is intended to accelerate the innovation needed to drive Australia’s transition across key sectors, as well as develop carbon markets as an important transition tool. It will significantly contribute to the development of CBA’s climate, carbon and biodiversity expertise and our ability to play a leadership role in supporting investments in climate linked businesses as they scale their operations.”

CBA’s investment in Wollemi underpins a broader strategic alliance between the two organisations. This will facilitate knowledge and expertise sharing, potential co-investment opportunities and further collaboration in the carbon market services sector.

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Wollemi co-Founder Tim Bishop added: “The investment from CBA will amplify Wollemi’s impact. It allows us to scale our business and investments more quickly. We’re also excited about the possibilities this strategic alliance opens up. This includes the opportunity to introduce quality carbon opportunities to CBA and its customer base, along with access to best in breed, world-leading technologies and specialist climate expertise.”