Herve Touati (48) is assuming responsibility for the carbon sourcing activities (JI/CDM) of the E.ON group plus emerging renewable technologies, effective from 1 June 2008.
Born in France and with a PhD in Electrical Engineering from Berkeley, California, Touati began his career in research and development in the computer industry. He joined McKinsey in 1995, advising European and North American clients in the finance and energy sectors, with a focus on commodity trading and risk management. As a pioneer and leading expert in carbon sourcing, he will bring an in depth knowledge of JI/CDM activities and carbon markets.
Frank Mastiaux, CEO of E.ON Climate and Renewables, commented on Touati’s appointment as follows, "I am absolutely delighted that Herve has agreed to join us. As a world- renowned expert and highly regarded authority in carbon sourcing, he will help raise our critically important agenda of JI/CDM and carbon credits to a new level. His excellent skill set and long-standing international experience brings yet another dimension to the diversity and richness of our leadership team."
Joint Implementation and the Clean Development Mechanism (JI/CDM) are two of the flexibility mechanisms introduced under the Kyoto protocol which provide incentives to invest in clean technologies in emerging and transition economies. E.ON Climate & Renewables aims to build a leading position in this market through using our in depth energy expertise to invest in high quality carbon emission reduction projects in selected countries.
With a €6 billion investment programme until 2010, E.ON Climate and Renewables is poised to become a leading player in the highly competitive and rapidly growing renewables sector through organic growth and acquisitions as well as by driving innovation in new technologies.