Image of Chris Skidmore from Sky News.
Chris Skidmore, the UK’s former net-zero tsar and ex-Conservative MP, recently unveiled Desmos Capital Partners, a new private investment bank aimed at supporting scale-up firms focused on impact, future technologies, and achieving net zero.
The firm plans to invest in innovative companies working on decarbonisation and emissions reduction, with a focus on creative funding structures and alternative sources of capital.
Skidmore, who left the Conservative Party and resigned from Parliament in January over new oil and gas licences, said the firm will invest in companies that aim to scale and raise capital starting from £5 million. Desmos will pursue “creative funding structures and alternative sources of capital” including private family funds and investors, as opposed to traditional venture capital funds.
The former MP, who led an independent review of the UK’s net-zero policies in 2022, emphasized the importance of access to private capital for innovative companies working on decarbonisation and emissions reduction. Desmos Capital Partners plans to establish offices around the globe, starting in London and Paris, with future expansion to Dubai and Toronto.
Skidmore, who has shifted his political support to Labour, also acknowledged the government’s actions on net zero, including the removal of onshore wind planning restrictions and the establishment of a mission to create a 2030 net-zero power grid. He urged the creation of an investment roadmap to clarify project timelines and investment balances needed to reassure private markets about the UK’s commitment to net zero initiatives.
Nobody can accuse Chris Skidmore of being a slouch.
Post-resignation, he founded Better Earth, a company co-chaired by Boris Johnson, which advises governments on emissions reduction.
And in addition to Desmos he has also launched The Climate Action Coalition, which aims to push forward delivery against the 2030 climate commitments made at various international summits.
