Engineering and consulting giant WSP is wading into the sustainable investing world, this week announcing its acquisition of Washington, DC-based Climate Finance Advisors.
The acquired firm “is a women-owned consulting and advisory firm whose work is at the nexus of private investment and climate change” specializing “in helping clients develop climate finance strategies, appraise and structure climate-aligned investments, channel public and private capital to sustainable investment and integrate climate considerations into investment decisions, financial products and services and policies,” the companies stated. Climate Finance Advisors was founded in 2015 by CEO Stacy Swann.
The addition of that company marks the first investment-related services offering for WSP, a company spokesperson said in an email.
However, WSP’s “well-established advisory business line has been helping clients capitalize on public and alternative project funding and finance for many years”.
Climate Financial Advisors includes a team of 16 employees, and it has completed more than 175 projects in more than 65 countries. It has seen more than 100% year-over-year average income growth since its founding, the spokesperson said.
The acquired firm is joining WSP USA’s climate, resilience and sustainability team. Swann has joined WSP in an executive capacity, working with WSP staff in Canada and other countries, in addition to the company’s global ESG committee.
Climate Financial Advisors “accelerates climate-aligned investment through capabilities such as climate risk assessments for projects and portfolios, net-zero and climate-resilient planning and investment, optimizing climate strategies to meet stakeholder expectations, and applying a climate finance lens to project and infrastructure offerings as well as investments and acquisitions,” the companies stated.
“The acquisition strengthens WSP USA’s market leadership in end-to-end climate finance and environmental services, as more corporations, investors, government agencies and other organizations seek help to assess and address climate-related financial and operational risks and opportunities.”
WSP USA has more than 12,000 employees across 200 offices. The company provides engineering and consulting services for various markets, including buildings, transportation, energy and water.