Deloitte closes mini acquisition in sustainability technology space

Big Four firm Deloitte has closed a mini acquisition in the sustainability technology space, integrating start-up OCT Emissions Solutions and its founding team into its Climate and Sustainability practice.

Having gained years of experience in the engineering sector, Joe Corvetti, Marni Oaten and Suren Thurairajah (who all served Worley at some point in their career) last year joined forces to launch OCT Emissions Solutions.

OCT Emissions Solutions specialises in decarbonisation technology, including solutions for hydrogen, carbon sequestration and offsets, and carbon dioxide cleanup.

OCT Emissions Solutions and the founding trio have now joined Deloitte, where they have been appointed partners and co-leaders of the newly formed Emissions Solutions practice.

“We have developed a go-to-market-model to bring portfolios or single technology options quickly to industry, with industry partners as sponsors accelerating demonstration projects. After incubating our innovations as OCT Emissions Solutions, we look forward to further developing them as Deloitte Emissions Solutions and bringing them to market,” said Oaten.

For Deloitte, the move deepens its Climate and Sustainability practice, which provides clients with an end-to-end offering across the climate change and decarbonisation lifecycle.

“Climate change will define our time – for the nation, business and government. We are unambiguous in our mission to be the leading climate and sustainability advisor to Australia’s most important organisations as they will lead this change,” said Deloitte Climate and Sustainability Executive Leader, David McCarthy.

According to research by Deloitte Access Economics (the firm’s economic research consultancy), climate change is a $680 billion economic opportunity for Australia. On the flipside, inaction on climate change could cost the Australian economy $3.4 trillion in the lead up to 2070.

Technology will play a key role in unlocking much of the benefits identified, and this is where Deloitte’s investment in the Emissions Solutions wing comes in.

Deloitte Australia CEO Adam Powick said: “We want to be at the forefront of driving technological innovation to help position Australian organisations and industries as global leaders in climate action.”

The deal comes shortly after Deloitte acquired a trio of digital experience consultancies and healthcare consultancy The Checkley Group.