News Type: Press Release

Owain Morgan hired as 3Degrees’ President of Markets

Owain Morgan

3Degrees, a leading global provider of climate solutions, has hired Owain Morgan as its President of Markets. In this role, Morgan will oversee 3Degrees’ industry-leading Environmental Markets team in the development and trading of a growing suite of global environmental commodities that help customers take immediate and impactful action to meet their climate goals. Morgan brings more than 25 years of deep experience in emerging financial markets to bear as 3Degrees continues to expand its suite of products and technology solutions to deliver best-in-class service to its clients. That includes expanding into new products and markets to provide the most comprehensive set of climate management options possible.

“The markets we participate in are growing and changing quickly, and Owain brings significant expertise in systems, processes, risk management, and portfolio management that will be beneficial as we scale to meet our customers’ growing needs,” said 3Degrees CEO Steve McDougal. “I’m confident that Owain is the right person to lead our Environmental Markets team in this increasingly complex, and exciting, time of growth.”

Morgan has led businesses at some of the most well-known financial services firms in the world, including JP Morgan and Bridgewater Associates. At JP Morgan, he served as Managing Director and Global Head of Product, where he was responsible for developing portfolio risk and analytics solutions, powered by technology that the firm sold to institutional investors. At Bridgewater, he was responsible for a team of 60 investment and tech professionals responsible for advancing risk management and portfolio construction. Most recently, he served as the Principal Consultant at Anakain Advisors, providing interim C-Suite services to private investment firms and their portfolio companies.

“I’ve spent my career so far helping to mature emerging financial markets, and I’m so excited to be able to apply that expertise to climate change at such a pivotal time for the climate solutions space,” Morgan said. “I look forward to connecting with 3Degrees’ customers and building solutions together based on their evolving needs. There is a lot of important dialogue right now in the voluntary market, which will ultimately propel our industry towards better, more impactful market-based solutions. 3Degrees is going to continue to be at the forefront of this evolution.”

3Degrees welcomes new CFO, Suzy Taherian

Suzy Taherian

3Degrees, a leading global provider of climate solutions, has hired Suzy Taherian as its new Chief Financial Officer. Taherian brings over 25 years of experience driving growth in global energy companies. She’ll apply this experience as financial leader for 3Degrees as the company continues expanding and maturing its services, teams, and systems to serve its clients’ decarbonization efforts.

“I’m thrilled to welcome Suzy as our new CFO,” said 3Degrees CEO Steve McDougal. “After our previous CFO Sumit Kapur decided to move on after 11 years, we knew hiring the right person to step into this critical role would be paramount. Suzy brings everything we were looking for, including deep energy industry experience and a thoughtful approach to managing both financial complexities and human dynamics that was essential for the financial leader of a mission-driven B Corp like 3Degrees.”

Taherian began her career in a variety of roles over 16 years with Exxon and Chevron, after which she moved on to lead high-growth companies focused on the transition to a low-carbon energy system. Over her career, she has completed over $7 billion in M&A and financings. She was most recently CFO of Xpansiv, which provides the global market infrastructure for energy transition. Taherian led Xpansiv’s finance team through some incredible milestones, including completing $540M in private equity financing with several partners, completing four major acquisitions, and delivering strong top line growth and increased profitability while rapidly scaling up the size of the team. She has also been an adjunct professor in International Finance and International Business at UC Davis Graduate School of Management for the last ten years. She holds a BS in Mechanical Engineering from UC Davis and an MBA from the Kellogg School of Management at Northwestern University.

“I’m excited to be part of the 3Degrees team,” Taherian said. “The company has achieved an impressive track record in helping our customers take urgent action on climate change, all while achieving consistent financial performance and adhering to strong values of passion, respect, commitment, integrity, and diversity. I look forward to advancing this impressive work and helping 3Degrees expand its footprint and suite of climate solutions for customers around the globe.”

3Degrees Adds Amy Wierenga as Board Director

3Degrees, a leading global climate solutions provider and Certified B Corporation, has added investment and risk professional Amy Wierenga to its Board of Directors. Wierenga brings 20 years of global private and public sector experience – including risk management, capital allocation, portfolio management, quantitative research, trade operations, and treasury management – to bear for 3Degrees, which offers a full suite of clean energy and scope 1, 2, and 3 decarbonization solutions that help global Fortune 500 companies, utilities, and other organizations achieve their climate goals.

“We are pleased to welcome Amy to our Board of Directors,” said Dan Kalafatas, 3Degrees Board Chair. “3Degrees is entering a new phase of growth as we continue to expand our decarbonization services and products globally to combat the existential threat of climate change. Amy’s expertise and contributions will help shape and refine our offerings and operations, better enabling us to help draw down global greenhouse gas emissions.”

Wierenga currently serves as Managing Director, Investments and Investment Chief Risk Officer at GCM Grosvenor, a $75BN global alternative investment manager specializing in customized investment solutions across absolute return, alternative credit, private equity, infrastructure, and real estate markets. In her role, Wierenga leads global risk strategy, oversight, and quantitative research to enhance decision-making and risk management across investment underwriting, portfolio construction and portfolio management activities.

Prior to joining GCM Grosvenor, Amy spent over a decade at BlueMountain Capital Management, where she was Partner, Chief Risk Officer, and Head of Risk & Portfolio Construction. Amy’s leadership was instrumental to enabling BlueMountain’s soundly managed growth from an emerging credit and volatility arbitrage fund manager into a $20BN global multi-strategy, multi-fund manager known for its integrity, collaborative intellectual rigor, and strong internal control culture.

Before BlueMountain, she served at Merrill Lynch where she managed risk for one of the largest U.S. Government & Agency flow interest rate derivatives and exotics books on Wall Street. Wierenga started her career as a Bank Examiner and Risk Specialist at the Federal Reserve Bank of Chicago, where she led and participated in regulatory assessments of banking and trading book risk at small, regional and Large and Complex Banking Organizations across the U.S.

“I am enthused by the 3Degrees leadership team’s vision and excited to help guide the organization’s growth at this pivotal time,” Wierenga said. “3Degrees’ thriving climate action advisory and unmatched expertise in the origination, sales, and trading of the evolving renewable energy and climate markets uniquely position it to meet rapidly increasing sector demand. I have been impressed by the entire team’s commitment to investing in institutional-quality trading risk process and systems, and to retaining the strong mission-centric culture that has characterized the firm’s success to-date.”

3Degrees managed carbon project receives approval of first-of-its-kind technology

feeding cows

3Degrees, a leading global climate solutions provider and Certified B Corporation, announced today that Verra, the global carbon standards body, has approved a first-of-its-kind methane avoidance project at Skyridge Farms. This approval came after receiving a positive validation statement from verification firm First Environment Inc.

Dan DeGroot, owner of Washington-based Skyridge Farms, has made it his mission to produce dairy as sustainably as possible. Before installing a manure management system, the facility pumped approximately 200,000 gallons of manure per day into an open lagoon, where it was stored until it was ready to be used as fertilizer in the farm’s crop fields. As the manure sat stagnant in the open lagoon, anaerobic decomposition occurred, emitting potent methane gas. Today,  not only is that methane captured, but an innovative new system also delivers myriad benefits to the farm while the newly approved carbon credit project improves the farm’s financial health.

The First Wave System for methane capture and other benefits

The approval of this 3Degrees managed project marks a significant leap forward for manure management, particularly as it becomes the first to be approved as a voluntary carbon project. Livestock Water Recycling’s (LWR) First Wave System allows Skyridge Farms to eliminate methane production from their onsite waste, providing a notable alternative to methane capture. The First Wave System is a process designed to recover methane-causing volatile solids from raw manure while producing a clear filtrate liquid for reuse in flush systems or for fertigation through center pivot systems.   

By removing solid waste from the lagooning process, LWR’s First Wave System also provides Skyridge Farms with cleaner water for crops, increased compost value, healthier soils, and larger crop yields. Additionally, the surrounding communities recognized immediate benefits such as improved air quality and reduced odors commonly associated with farmlands. 

“For us, the decision to focus on removing solids from the system was an easy one,” DeGroot said. “We now use less water, have fewer offensive odors, fewer emissions, a better crop response with the newly created nutrients, and can provide added comfort to the cows with cleaner lanes. With the revenue generated from the carbon credits to help offset expenses, it becomes much more practical to continue operation.” 

An approval milestone for Skyridge Farms and farmlands nationwide

The 3Degrees project management team first applied for project approval in 2021. After a comprehensive evaluation process by third-party verifiers and an extensive review process by Verra, the Skyridge Farms methane avoidance project was officially approved in May 2023. The approval represents a significant milestone for Skyridge Farms, as the revenue generated from carbon credits underscores that a commitment to sustainable dairy farming practices in the Yakima Valley can also provide further economic benefits.

The approval of this methodology is a monumental achievement for LWR’s technology platform and farmlands nationwide, opening the door for future alternative manure management credit project opportunities. 

“We were thrilled to be able to work with Skyridge Farms to bring this innovative technology to the voluntary credit market,” stated Nick Facciola, Director of Carbon Projects at 3Degrees. “We are excited about the opportunities this technology presents to implement decarbonization programs within the supply chains of milk production.”

“We are immensely proud of the successful verification of carbon credits for Skyridge Farms and the pivotal role that our technology and advanced analytics reporting played in this achievement,” Karen Schuett, Co-Founder and CEO of LWR, said. “This milestone demonstrates the effectiveness of our technology in reducing greenhouse gas emissions, avoiding the creation of methane, and optimizing resource utilization. We are confident that this announcement will inspire other producers to embrace on-farm manure processing, as we remain committed to empowering our customers to build more environmentally sustainable and economically viable futures for their businesses.”

Contact 3Degrees to learn more about the Skyridge Farms methane avoidance project and other carbon credits opportunities.

3Degrees accelerates work in reducing corporate emissions from agriculture with new senior leader hire

John Bourne joins 3Degrees to increase deployment of solutions that reduce scope 3 emissions from agriculture

Global organizations, from retailers to food and beverage leaders to apparel brands and more, are increasingly turning their attention toward addressing and reducing emissions from agricultural supply chains. 3Degrees, a leading global climate solutions provider, today announced its increased investment in products and services to help global companies address scope 3 emissions from agriculture. The enhanced effort will be spearheaded by John Bourne, 3Degrees’ new Senior Director for Agriculture in the global Carbon Markets organization.

Bourne brings over 15 years of leadership experience in the agriculture and climate technology space and will add new depth to 3Degrees’ nearly 20-year track record in funding and developing agricultural emission reduction projects. Most recently, Bourne was Senior Vice President of Business Development and Marketing for Ceres Imaging, the leading data analytics and imaging company for the agriculture industry. At Ceres, Bourne led global market expansion into Europe and South America, and supported Fortune 1000 clients’ agricultural sustainability strategies using Ceres’ MRV technology.

“There is no silver bullet to the climate challenges facing the global agriculture industry today. I look forward to helping 3Degrees deliver more – and more impactful – solutions to organizations working to address and reverse agriculture-related emissions,” said Bourne.

Food and agriculture activities account for one quarter of the world’s greenhouse gas emissions (source). In a business-as-usual scenario, by 2100 food production alone will account for more than double the entire carbon budget for 1.5°C (source). Leading organizations are seeking solutions to reduce their agricultural emissions, spurred in part by new FLAG Guidance for companies with SBTi Net Zero targets, and 3Degrees is acting intentionally to help these companies accelerate action and achieve leadership in this area.

“3Degrees has been delivering agricultural emission reductions for nearly two decades, but we all need to scale this more aggressively. So we’re bringing together the smartest people and most innovative technologies to help our clients take action on these difficult to abate scope 3 emissions,” said Mark Mondik, Vice President of Carbon Markets at 3Degrees. “John is going to be a wonderful partner for our clients. He will bring his expertise to bear at the intersection of our internal team of skilled professionals and our external technology partners to accelerate delivery of our current solutions and develop new products and services as our clients’ needs evolve.”

To date, 3Degrees has supported the development and operation of dozens of innovative emission reduction projects in the agricultural sector, and Bourne’s leadership will help the company significantly expand the scale of 3Degrees’ work in this sector.

Learn more about 3Degrees, and connect on LinkedIn to stay up-to-date on agriculture-related news and more insights for sustainability professionals.

3Degrees welcomes new general counsel Jan Kang

Jan Kang, 3Degrees General Counsel

3Degrees, a leading global provider of climate solutions, welcomed Jan Kang as its new general counsel this week. Kang brings extensive experience as in-house general counsel, having worked for a range of leading organizations focused on revolutionizing their industries, from semiconductors to e-commerce, and renewable energy to cybersecurity.

“I’m thrilled to have Jan join our team at an exciting time of growth and expansion for 3Degrees, alongside exciting maturation and innovation in the climate solutions industry,” said 3Degrees CEO Steve McDougal. “Jan will be pivotal in advancing our legal processes and leading our amazing legal team in continuing to deliver best-in-class service as well as accelerating our clients’ important decarbonization efforts.”

Kang brings more than 25 years of legal experience to her role at 3Degrees. She has been general counsel for a number of companies, including Chronicle, Makani, and Cupertino Electric, Inc., where she negotiated a number of utility-scale solar projects with utilities and other organizations. Kang began her in-house legal career at Lam Research Corporation, gaining global experience working with subsidiaries in Asia, Europe, the Middle East, and Australia. Prior to Lam, she worked in Seoul as a foreign legal consultant for the law firm of Shin and Kim. She started her career with Sheppard, Mullin, Richter & Hampton in Los Angeles. Kang holds an undergraduate degree in philosophy from Stanford University and a law degree from the University of Michigan School of Law.

In addition to her extensive experience, Kang also invests her time supporting people in the legal community. She is the founder of the Women’s General Counsel Network (WGCN), which brings together women general counsels to provide support and education relating to their professional roles, and is now more than 1600 members strong.

“Joining 3Degrees has allowed me to combine my passion for supporting innovation in business with my personal values, which include a commitment to taking care of people and the planet,” said Kang. “I’m looking forward to supporting 3Degrees’ exciting global growth and product expansion in the years to come.”

P-RECs powering a second renewable electrification of a hospital in South Sudan

The largest P-REC transaction in South Sudan funded the solar electrification of Malakal Teaching Hospital, which was completed in December 2022, and a second P-REC agreement will fund Bor State Hospital’s solar electrification.

Early in 2022, the first-ever Peace Renewable Energy Credit (P-REC) transaction in South Sudan was announced, executed by U.S.-based 3Degrees and the International Organization for Migration (IOM) with support from Energy Peace Partners (EPP). In the agreement, 3Degrees obtained the P-RECs generated from a 700kWp solar plant in IOM’s Humanitarian Hub in Malakal. Block, a global technology company with a focus on financial services, purchased the P-RECs from 3Degrees. 

The arrangement enabled IOM to fund the solar electrification of the Malakal Teaching Hospital, the main healthcare facility serving the city of Malakal and the surrounding region.This area was destroyed in the country’s civil war and now houses one of the largest camps for internally displaced persons (IDPs) in South Sudan. The team is pleased to announce that the hospital’s new solar system is now operational and is projected to reduce fuel consumption by at least 85% annually.

On the heels of the successful completion of the Malakal hospital project, 3Degrees, IOM, and EPP collaborated to replicate a second P-REC issuance in South Sudan, in which additional P-RECs from the solar plant in IOM’s Humanitarian Hub in Malakal will support the solar electrification of Bor State Hospital. Block also served as the purchaser of this subsequent batch of P-RECs. Currently the hospital operates with minimal, undependable electricity and this project will ensure a 24/7 power supply for the hospital’s critical care units and enable the hospital to provide reliable, safe services to the community, including gradually opening night services. Bor State Hospital currently relies on four diesel generators that run computers, fans in each of the wards, refrigerators, sterilization materials in the operating room, lights, surgical equipment, and more.

P-RECs are international renewable energy certificates (I-RECs) with a supplementary quality label certifying unique socio-economic co-benefits associated with new renewable energy generation. They are issued from qualifying projects in target countries characterized by high risk of conflict, high vulnerability to climate change and low levels of electrification. P-RECs serve to monetize renewable energy generation from eligible projects in order to unlock private sector capital for high-impact renewable energy projects in fragile, energy-poor countries. EPP developed and is the exclusive issuer of P-RECs.

“This new P-REC transaction demonstrates both the need and potential for innovative solutions like the P-REC to meet the challenges of electricity access in South Sudan, the least electrified country in the world,” said Dave Mozersky, President of Energy Peace Partners. “We are grateful to our partners Block, 3Degrees, and IOM for their commitment, vision and cooperation, and thrilled that this P-REC transaction will support an additional hospital electrification project in Bor.” 

“3Degrees has now executed several P-REC transactions, and it is remarkable to see the meaningful impact these projects have on energy-poor, climate-fragile communities,” said Steve McDougal, CEO, 3Degrees. “These two P-REC transactions in South Sudan are helping the hospitals provide safer, more reliable service to their patients – making a true difference in people’s lives. It was a pleasure to collaborate again with Block, Energy Peace Partners, and IOM, and we look forward to supporting more of our customers in their goal of pursuing meaningful renewable energy procurement.” 

“As a global community, we must do all we can to build the resilience of the most vulnerable people so they can cope with the impacts of a changing climate and conflict. Environmental sustainability and the energy transition must be at the heart of building durable solutions,” said Amy Pope, Deputy Director General, IOM. “For us, the clean energy transition means transitioning our own facilities to cleaner energy sources and providing displaced people with sustainable energy so they can cook, light their homes and get access to critical health care services. It also means using clean energy as a tool for peace. We are excited to continue our partnership with 3Degrees and Energy Peace Partners that benefits both people and the planet.”

“P-RECs provide Block an opportunity to support high impact clean energy projects that have a clear connection to our purpose of economic empowerment,” said Neil Jorgensen, Global ESG Lead at Block. “We’re thrilled to continue to leverage our renewable energy portfolio to help drive tangible, positive benefits where it is needed the most and we hope to see more private sector support for these types of solarization projects in the future.”

To read more about the largest P-REC transaction in South Sudan that funded Malakal Teaching Hospital solar electrification project, click here.

About EPP

Energy Peace Partners leverages climate and finance solutions to promote peace in the world’s most fragile regions. Our climate-sensitive approach expands the existing toolkit for peace and development by extending the renewable energy revolution to some of the planet’s most vulnerable populations. We address the intersection of energy poverty, conflict risk and climate vulnerability to demonstrate the peace dividends of clean energy.

About IOM

The International Organization for Migration (IOM) is a related organization of the United Nations system and is the leading intergovernmental organization in the field of migration. IOM is committed to the principle that humane and orderly migration benefits migrants and society. From its roots as an operational logistics agency following the Second World War, it has broadened its scope to become an essential international actor in the field of human mobility, supporting migrants across the world, developing effective responses to the shifting dynamics of migration, and a key source of advice on migration policy and practice. The Organization works in emergency situations, developing the resilience of all people on the move, and particularly those in situations of vulnerability, as well as building capacity within governments to manage all forms and impacts of mobility.

About Block

Block, Inc. (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD, we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.

Sweep and 3Degrees Partner to Launch Groundbreaking Carbon Measurement and Reduction Solution

Supply Chain Emissions

Sweep, the leading carbon management and reduction platform, has announced a partnership with 3Degrees, a leader in global climate solutions. The two certified B Corporations will team up to provide a seamless experience for organizations looking to measure and take action on their operational and value chain emissions. 

The partnership combines Sweep’s cutting-edge carbon management and reduction platform with 3Degrees’ top-tier consulting service and environmental attribute portfolio to help companies onboard the platform, conduct and analyze their GHG accounting profiles, develop bespoke emissions reduction roadmaps, and access renewable energy and decarbonization tools to immediately address global value chain emissions and achieve near-and-long-term climate targets.

Sweep’s data-driven platform makes it easy for organizations to understand, manage, and reduce their carbon footprint. Powerful collaboration features and user-focused design empower team members and supply chain stakeholders to grow a cleaner business. Through this partnership, 3Degrees will work with companies to streamline their adoption and utilization of the Sweep platform, including gathering critical data and ensuring high data quality, allowing clients to focus on accelerating meaningful emissions reductions and meeting their climate goals.

3Degrees has recently announced a climate technology advisory service that will streamline the selection and adoption of climate software solutions to help organizations accelerate data-driven progress toward decarbonization goals. The company’s team of climate consultants works closely with organizations to align on a best-fit climate technology solution, advise on data collection methodologies, support the data migration process, and educate cross-functional teams to ensure effective onboarding and tool utilization. 

Our partnership with 3Degrees showcases the power of collaboration in accelerating climate action. Armed with a software platform and consulting expertise, organizations can streamline their carbon management work and build a climate strategy that aligns with their business goals, industry demands, and their digital transformation needs. That’s how we can collectively make a real difference and drive cross-sector decarbonization,” says Rachel Delacour, CEO and Founder at Sweep.  

“Organizations, especially those with a vast portfolio of international assets or facilities, are becoming increasingly aware of a growing need to adopt a standardized climate technology solution,” said Scott Martin, Vice President and Head of Global Commercial Business at 3Degrees. “Partnerships like this one allow businesses to unlock valuable emissions data insights, build comprehensive reduction plans, and implement solutions that result in meaningful emission reductions.”

About Sweep: 

Sweep helps businesses track and act on their carbon, so they can become Forever Companies. The data-driven platform makes it easy to understand, manage, and reduce your carbon footprint. Powerful collaboration features and user-focused design empower your staff and your entire value chain to grow a cleaner business. The platform also has an integrated marketplace, letting you contribute to exciting carbon reduction and removal projects around the world. And with all your data in one place, its analytics offer deep insights into your progress and automatic reporting to your stakeholders.

Sweep is a B Corp, and a member of the World Bank’s Carbon Pricing Leadership Coalition and The International Emissions Trading Association (IETA). Get your supply-chain emissions on-track, visit sweep.net

3Degrees Commits to Blockchain Investment, Signs on as Affiliate to Energy Web Foundation

energy-web-blockchain

3Degrees announced today that it has become an Affiliate of the Energy Web Foundation (EWF), a global non-profit organization focused on accelerating blockchain technology across the energy sector. With this commitment, 3Degrees joins more than 90 other leading companies as Affiliates of EWF and has access to strategic R&D investment in blockchain technology in the energy sector.

“We have been studying blockchain closely over the past year and felt the time was right to join forces with EWF, an organization pioneering the way the energy industry will intersect with blockchain-enabled platforms,” said Steve McDougal, CEO of 3Degrees. “3Degrees is committed to being a credible, trustworthy partner to our customers as they navigate this emerging technology. We believe blockchain offers enormous potential for the energy and environmental commodity markets, the grid edge, electric vehicles, demand response, and beyond. However, it’s critical that we approach this new technology intelligently and with stringent regulation. 3Degrees became an Affiliate of EWF because we align with their approach to the intersection of blockchain and the energy markets.”

Co-founded by Rocky Mountain Institute and Grid Singularity, EWF’s core focus is building an open-source, scalable blockchain platform specifically designed for the energy sector’s regulatory, operational, and market needs. It serves as a foundational, shared, digital infrastructure for the energy and blockchain community to build and run their solutions. As an Affiliate of EWF, 3Degrees will have privileged access to research, technology, education efforts, and the organization’s ecosystem.

“3Degrees is a leading renewable energy and environmental commodities market player that is committed to operating with transparency and integrity,” said Hervé Touati, CEO of Energy Web Foundation. “Blockchain technology holds much promise across their focus areas, including renewable energy certificates and renewable energy procurement. We’re excited for 3Degrees to add their respected perspective to the evolution of the Energy Web Chain.”


About Energy Web Foundation

Energy Web Foundation (EWF) is a global nonprofit unleashing blockchain’s potential to accelerate the transition to a decentralized, democratized, decarbonized, and resilient energy system. EWF is building the shared, digital infrastructure—an open-source, scalable blockchain platform—specifically designed for the energy sector’s regulatory, operational, and market needs. Co-founded by Rocky Mountain Institute and Grid Singularity, and with a worldwide network of more than 90 affiliates and growing, EWF is the largest energy blockchain ecosystem and the industry’s leading choice as the foundational blockchain base layer, providing the digital DNA building blocks powering the world’s energy future. For more, visit https://www.energyweb.org.

Energy Web Foundation (EWF)
Peter Bronski
+1.201.575.5545
[email protected]