Norton Rose has signed up the man widely credited with writing the book on climate change and carbon trading law, Anthony Hobley, to head a brand new global practice.
Hobley will lead the top 15 law firm’s global climate change and carbon finance practice, which will sit within the energy group.
He leaves investment group Climate Change Capital (CCC) this May after two years as the fund’s general counsel.
On his decision to move to Norton Rose, Hobley said other law firms had not shown “any true commitment” to building strong climate change and carbon finance practices.
“Other firms are just dabbling in the area, which in a decade will be worth trillions,” said Hobley. “They’ve just jumped on a bandwagon without much dedication at all.”
Hobley said Norton Rose will be pumping in excess of £100,000 into the development of the practice in the next year.
When Hobley moves to Norton Rose his former employer CCC will not be replacing him. Hobley will instead take on CCC as a client, a move the investment group has welcomed.
Hobley said: “The global carbon markets have evolved rapidly during my time at CCC and it’s a natural progression for CCC to want to deepen their relationship with its key legal adviser. The move to Norton Rose enables clients like CCC to have a greater legal capability whilst structuring transactions.”