Cornerstone Capital Inc., has elected energy policy expert Dr. Holmes Hummel to its Board of Directors effective immediately, it was announced by Erika Karp, founder and CEO.
Dr. Hummel is the founder of Clean Energy Works, which connects champions of energy efficiency and renewable energy with resources that accelerate investment in the deployment of clean energy solutions. In addition, Dr. Hummel serves on the board of Cleantech Open, the world’s largest accelerator built to find, fund, and foster the most promising cleantech startups. Previously, Dr. Hummel served on Cornerstone’s Global Advisory Council.
In 2009, Dr. Hummel was appointed as the Senior Policy Advisor in the U.S. Department of Energy’s Office of Policy & International Affairs, serving through 2013. In that capacity, Dr. Hummel engaged a wide range of industry and public interest stakeholders to inform energy policy decisions on such topics as clean energy finance, water-energy interdependency, natural gas resource development, trade policy, climate change, environmental regulation and grid reliability.
“We are incredibly fortunate to have someone with Holmes’ extraordinary expertise and insight joining our Board as we examine the compelling questions and challenges around the world’s energy infrastructure. Dr. Hummel’s guidance will be invaluable as we bring to bear Cornerstone’s resources on behalf of our clients in all aspects of investment management, consulting, and investment banking,” said Karp.
Dr. Derek Yach, Chairman of the Board, said, “Dr. Hummel brings deep insight into the future of the energy sector at a time of unprecedented demand for market-led approaches to tackling climate change. We are privileged and thrilled to have someone of Dr. Hummel’s stature strengthen our Board’s ability to direct capital towards initiatives of mutual benefit to business and society.”
“Cornerstone Capital is providing solutions for the growing number of investors who value transparency in portfolio performance even beyond financial returns and recognize superior performance in environmental management, social responsibility, and governance as signs of long-term competitive advantage,” said Dr. Hummel. “I look forward to working with the outstanding board already assembled to support the success of Cornerstone’s exceptional management team.”
In addition to Dr. Hummel, Cornerstone’s board of directors includes: Chairman Derek Yach, SVP of Vitality Group; Erika Karp, Cornerstone CEO; Elizabeth Vazquez, President, CEO and Co-Founder of WEConnect International; Michael Baldinger, CEO at RobecoSAM; Andrew MacLeod, former GM of Community, Communications and External Relations at Rio Tinto; Joanne Jacobson, an Entertainment and Media executive, who most recently served at Viacom Media Networks; Kathee Rebernak, Founder & CEO of Framework, LLC; Judith Albert, former Executive Director of Environmental Entrepreneurs (E2 of the NRDC); Cheryl Smith, Chief Economist and Strategist at Trillium Asset Management; Matthew Swibel, Director of Sustainability Strategy at Lockheed Martin Corp. and Eric-Vincent Guichard, Founder and CEO at Homestrings.
Cornerstone Capital’s timely and motivating philosophy is to drive a positive societal impact by leveraging the various functions of the capital markets. In offering investment banking, strategic consulting, and shortly investment management services, Cornerstone works with both corporations and financial institutions, promoting new research in the field of ESG (Environmental, Social and Governance) analysis, and facilitating capital introductions for companies around the world engaged in sustainable business practices. In particular, Cornerstone strives to help finance small and medium size enterprises (SMEs) which are pursuing sustainable growth and development globally.
More about Dr. Holmes Hummel
In addition to stewarding agency work on energy and climate policy development, Dr. Hummel founded the Water-Energy Technology Team within the Department of Energy and also led the DOE Energy Finance Working Group. Dr. Hummel was also instrumental in the development of the first Quadrennial Technology Review for DOE as well as the landmark Energy Efficiency & Conservation Loan Program launched by the USDA’s Rural Utilities Service.
Prior to moving to Washington, D.C., Dr. Hummel designed corporate energy strategies for clients of Silicon Energy, an energy software firm acquired by Itron, and later consulted briefly with the Google Energy & Climate team. Dr. Hummel was first hooked on energy technology innovation 20 years ago as a co-leader of the Clarkson University Solar Car Team, which designed and raced a highly efficient experimental electric vehicle across the country using only the power of the sun.
About Cornerstone Capital
Founded in 2013, Cornerstone Capital Inc. is a woman-owned financial services firm based in New York offering investment banking and strategic consulting and investment management capabilities. The mission of the firm is to bring the discipline of sustainable finance to the mainstream of the capital markets. With the systematic analysis of environmental, social and governance (ESG) factors in the investment process, the Cornerstone Capital Group advises both investors and corporations on how to optimize their financial and business decision-making processes. Cornerstone’s Board of Directors, Global Advisory Council and Staff partner with organizations including the World Economic Forum, the Clinton Global Initiative, theSustainability Accounting Standards Board, and the Principles for Responsible Investment to work towards collaboration and transparency in the global capital markets.