[MEDIA RELEASE] Carbon Market Institute Announces Departure of CEO

bradkerin Media Release

The Carbon Market Institute (CMI) announces that after six years, Peter Castellas is leaving his position as Chief Executive Officer. The Board of CMI would like to thank Mr Castellas for his strong leadership of the organisation over the last six years, and acknowledge his service to climate change mitigation efforts in Australia.

The CMI Board’s Interim Chair, Megan Flynn and Deputy Chair Elisa de Wit will lead the organisation following Peter’s departure in mid-February, while CMI undertakes a recruitment process for a permanent replacement. Mr Castellas will continue to act in his current capacity as Board Director of CMI.

“Under Peter’s leadership over the last six years, the Carbon Market Institute has gone from strength to strength, and is now positioned as a highly respected organisation that will continue to have real impact and influence on climate change mitigation in Australia”, says the Institute’s Interim Chair Megan Flynn.

“During this time Peter has been able to lead CMI through a complex and changing political landscape to become a trusted source of information and education for members and wider stakeholders alike. His leadership has enabled the organisation to communicate members views on how policy can be implemented and evolve, in an independent, authoritative manner”, says Megan.

Under Mr Castellas, the organisation has achieved many great outcomes, including:

  • Establishing the premier climate change and business event in Australasia, the annual Australasian Emissions Reduction Summit;
  • Playing a pivotal role bringing our broad set of members’ views to bear in preserving the domestic offset market through the establishment of the $2.55 billion ERF (with at least $1.5 billion of contracts held by CMI members);
  • Providing input in the development of the Safeguard Mechanism, most recently proposing design features for how the Safeguard can evolve under a future government to be an effective market mechanism;
  • Leading the largest Australian business delegation to the UNFCCC Conference of Parties each year;
  • Working with the Foreign Minister and DFAT in providing the key business voice into Australia’s position on the Paris Agreement; and
  • Building a corporate membership base of organisations that represent nearly 50% of Australia’s emissions, and around 80% of Australia’s carbon credit supply – as well as the service providers and financiers that support the operation of Australia’s growing carbon market.

“In this role I have had the unique opportunity to convene and connect the hard-working and dedicated individuals within our membership, through the many working groups, roadshows, roundtables and informal networking. Facilitating this knowledge exchange and commercial interaction has been a highly rewarding part of my role, and through these connections real lasting friendships have been made”, says Castellas.

“I would like to thank our members for their continuing support of the organisation and dedication to being part of Australia’s transition to the zero-carbon economy that is already underway”, says Castellas.

“I also want to thank the Board and the team at CMI who have given me amazing support, encouragement and inspiration. The team is dedicated, passionate and highly capable, and the board talented, visionary, and committed to the mission of enabling carbon markets in Australia to have a positive impact on climate change and Australia’s prosperous future’, says Castellas.

“I look forward to this next stage in my career which will involve pursuing opportunities in the wonderful world of climate change and carbon markets, and I am excited to continue to support the influence and impact of CMI in my role as a Board Director’, says Castellas.

“We have seen some challenges as an industry, but I firmly believe the words of Christiana Figueres, that we need to be ‘relentlessly optimistic’”, says Castellas.

The Board of the Carbon Market Institute is undertaking an external search for a new Chief Executive Officer, which will be led by executive search consultants People for Purpose, who will advertise for the position shortly, after which interested parties will be invited to respond. Enquiries may be directed to People for Purpose on 0468 625 252.