About C. MacDonald Europe

Colin Waugh is a researcher, writer and investor in commodity markets, with particular focus on geopolitical influences, global macro and new instruments facilitating carbon reduction and attainment of climate mitigation benchmarks. He has worked in London as Associate Director at Lombard Street Research (now TS Lombard) and was Research Manager at C. Macdonald (Europe) from 2003 to 2012 and again in London from 2012 until 2018.

As Senior Portfolio Manager of New York based global macro hedge fund Galtere Ltd. (a $2.5 bn commodity-based global macro fund) Colin Waugh piloted the launch of a sub-fund in 2006 called 'Climate Volatility' which later grew to be 20% of the fund's AUM. Within Galtere’s global macro mandate, traded fund components included the then newly-launched EU-ETS carbon credits; and equities of listed recycling, wind, solar and hydropower companies. The fund also evaluated investments in agricultural land and biofuel companies, in Brazil, and in Africa where it also invested in fixed income securities of net carbon creditor economies.

Later he researched and wrote on comparative outcomes of carbon credit schemes in key evolving global Carbon Emissions regimes, including not only the EU but also the US East Coast and California protocols, and a focus on China. Mr. Waugh travelled for several speaking and research visits to China including with representatives of Tianjin Climate Exchange and Guangzhou-based China Emissions Exchange; and

More recently, in Europe he focused on the rapid growth of alternative investment vehicles aimed at sustainable investment, through membership of the Switzerland-based Commodity Trading Association and Commodity Trading Club. Expanded interests led to engagement with pioneering firms focused on empowering project designers and executors, versus the traditional role of financiers controlling carbon credit value from the earliest stages of project growth.

Travelling for several speaking and research visits including the Guangdong provincial Chamber of Commerce to China and Guangzhou-based China Emissions Exchange he researched and wrote on comparative outcomes of carbon credit schemes in key evolving global Carbon Emissions regimes, including not only the EU but also the US East Coast and California protocols, and a focus on China.