Aurecon expands sustainability practice with Market Advisory Group

25 October 2022 2 min. read
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International design, engineering and advisory company Aurecon has acquired Market Advisory Group, a 15-strong boutique consultancy specialised in carbon market services.

The acquisition sees Aurecon bolster its sustainability and climate change practice, deepening its capabilities with new carbon markets offerings ranging from advice and insights on carbon market dynamics and trading, carbon procurement strategies, carbon market risks and mitigation strategies, to analysis on policies and regulations.

Founded in 2018, Market Advisory Group provides services to a wide range of organisations, including corporates (including a dozen ASX 100 clients), governments, financial institutions and consultancies.


The deal builds on a successful working relationship between the two firms, said Aurecon Chief Executive Officer William Cox. “The joint success we have achieved over the past two years working closely with Market Advisory Group on projects and winning work demonstrates our people work well together and operate with a similar culture to create a better future for people and the planet.”

Paul Gleeson, Group Director of Sustainability at Aurecon, noted that the addition of carbon market expertise to its suite of consulting and engineering know-how enables Aurecon to offer an end-to-end decarbonisation offering. “This means that we can now help our clients with the full optimisation of their path to net zero, at a time when we are seeing a growing demand for ‘whole-of-cycle’ integrated advisory offerings in the sustainability and climate change space.”

The deal comes months after Aurecon purchased three environmental consultancies in Hong Kong, as the firm aims to build a full-service sustainability and climate change advisory offering across Asia-Pacific. “Helping society transition to a net-zero carbon future is an integral part of our vision,” said Justine Jarvinen, leader of the Sustainability and Climate Change practice.

Terms and conditions of the transaction have not been disclosed. Market Advisory Group had previously been approached by “several major consultancies for partnership” admitted Founder and Managing Director Raphael Wood, adding that the joining of forces with Aurecon however ticked all the boxes.

“We have been working side by side delivering valuable integrated advice to our mutual clients, and we can see that Aurecon’s best-in-field technical expertise is a perfect fit for our subject matter expertise on carbon markets,” he said.

Previous acquisitions of Aurecon in Australia include Digital Node (2021), Quartile One (2019), and Studio Magnified (2018). Meanwhile, last year the Melbourne-headquartered group took a stake in Malaysia-based ERE Consulting.