Capital raising
Turning a low-carbon process into IPO value
Quantified a critical-minerals producer's low-carbon advantage for a pre-IPO raise and regulatory filing.
Who we help
We work with the people who decide when climate meets capital.
Investors & asset owners
Price physical and transition risk in a deal or across a portfolio, and translate it into the language of returns, credit, and value.
Companies raising capital
Turn a low-carbon process or product into a fundable, reportable value story — for pitch decks, S-1s, and sustainability disclosure.
Banks & lenders
Build climate risk into underwriting and turn it into products that protect the book and open new revenue.
Corporates & shareholders
Create shareholder value through low-carbon and sustainability — with a focus on cutting expenses, lifting asset values, and opening new revenue.
What we help you do
Organized around outcomes, not deliverables.
Here's what clients hire us for. Each links through to how we work.
01
Quantify the value of low-carbonTurn a cleaner process or product into shareholder value investors and regulators will credit.
Selected work
Real engagements, described to protect our clients.
15+ yearsacross climate and finance
~$100Bin assets advised across Canada, the UK & Europe
U of Tinstructor, Climate Change Strategy
PublishedJournal of Impact and ESG Investing
PCAFcertified; background at PwC & climate metrics and targets
Carbonmarket veteran — in credit creation and market trading
01
Quantify the value of low-carbon
For companies raising capital or reporting
A lower-carbon process or product is often worth more than the founders realize — but only if the value is quantified in terms investors and regulators recognize. We build that case: what the emissions advantage is worth, where regulation turns it into a moat, and how it reads in a pitch deck, an S-1, or a sustainability disclosure.
What this looks like
Life-cycle emissions modelling and a defensible low-carbon claim Carbon-credit revenue potential — methodologies, markets, value, and the path to monetization Carbon-border (CBAM) exposure and advantage in export markets Reporting-driven advantage (CSRD / ISSB) as customers demand supplier-specific carbon data Applicable tax credits and incentives Investor- and filing-ready write-ups, numbers, and narrative
02
Price climate risk in an investment
For investors & asset owners
When you're underwriting an asset or a deal, "climate risk" is only useful once it's a number. We assess physical and transition risk against recognized scenarios and translate it into the metrics your investment and risk teams already use — so it can sit inside a memo, a model, or a credit decision.
What this looks like
Asset- and deal-level physical risk (flood, extreme heat, and other hazards) under IPCC scenarios Transition risk — carbon pricing, technology, and market shifts — under IEA and NGFS scenarios Translation into financial impact: operating, capital, revenue, and credit (PD / LGD) terms TCFD- and ISSB-aligned analysis, and clear go/no-go and structuring recommendations Portfolio-level concentration and early-warning indicators
03
Turn climate risk into revenue
For banks & financial institutions
Climate change is reshaping the risk on every loan book — but the same data that flags the risk can open new business. We help lenders build physical-risk analysis into origination and portfolio management, and design the client-facing products that protect assets and generate revenue.
What this looks like
Location-based hazard, vulnerability, and exposure analysis across a loan or mortgage portfolio Identification of high-exposure clients and early-warning indicators for delinquency and collateral impairment Design of resilience products and services (e.g. resilience lending, insurance referral, retrofit finance) Integration of physical-risk screening into loan origination Tie-in to sustainable-finance and climate-reporting targets
04
Monetize carbon
Cross-cutting — companies, project owners & communities
Carbon markets and carbon regulation are full of value and full of traps. We assess where a real, sellable carbon opportunity exists — and where it doesn't — and help structure it properly, including who owns the rights and how the revenue is governed.
What this looks like
Voluntary carbon-credit feasibility — methodology, registry pathway, volume, value, and timeline Offset and nature-based project scoping (e.g. forest carbon), baselines, and design options Carbon-border (CBAM) strategy for importers and exporters Ownership, rights, and governance structures around carbon revenue Realistic revenue, cost, and break-even analysis under current carbon prices
05
Scale climate across a portfolio
For asset owners with many assets and lean teams
Applying a climate lens to one asset is analysis. Applying it consistently across a whole portfolio is a system. We build the tools, methods, and frameworks that let a small team do the second — including approaches we've published and peer-reviewed.
What this looks like
Portfolio emissions accounting and attribution (including our published Delta Attribution method) Repeatable diligence and underwriting frameworks for a sustainability lens Integration of emissions, financial, and scenario data into investment analysis Carbon-exposure reduction across a portfolio without sacrificing returns Practical tooling (data, models, and workflow) that fits a lean team
06
Account for financed & insured emissions
For banks, investors & insurers
For a financial institution, the emissions that matter aren't in the office — they're in the loan book, the investment portfolio, and the underwriting book, and they're what regulators, investors, and net-zero commitments increasingly ask about. We measure them properly, to the PCAF standard, so you can report with confidence and manage what you've measured — not just disclose it.
What this looks like
Financed-emissions accounting across loans and investments (PCAF-aligned) Insurance-associated emissions for underwriting portfolios (PCAF) Data-quality scoring and a practical path to improving it Baselines that stand up for target-setting and disclosure (CSRD / ISSB, net-zero commitments) Attribution and change-tracking (including our Delta Attribution method)
How we work
The method that convinces the technical buyer.
We start from the number.
Every engagement ends in something you can put in a model, a memo, or a decision — not a glossy report that sits on a shelf.
We use real science and current regulation.
IEA, IPCC, and NGFS scenarios; live regulation — CBAM, CSRD, carbon pricing, critical-minerals policy. We show our sources and our math.
We're independent and hands-on.
The senior person scoping the work is the one doing it. No layers, no hand-offs.
Selected work
Real engagements, described to protect our clients.
Most of our work is confidential, so the case studies below are anonymized. They're real engagements, described in a way that protects our clients. Where we can share method openly — like the transit climate-risk memo — we do.
Insights
Where climate meets capital.
Notes on where climate meets capital — regulation worth watching, methods worth using, and the occasional sample of how we work.
Sample · Downloadable PDF
A climate-risk memo, in full
Our illustrative, public-data assessment of the climate-related credit risk on an infrastructure debt investment. A direct look at how we assess and quantify climate risk.
Explainer · Regulation
What CBAM and CSRD mean for anyone selling into Europe
A plain-language explainer on the two pieces of EU carbon regulation reshaping supply chains — and why low-carbon suppliers stand to win.
Peter posts regularly — regulation worth watching, methods worth using, and the occasional sample of how we work. New pieces appear here as they publish.
The name is only half a joke. The best outcome for a climate risk is that it turns out to be anti-climactic — identified early, priced properly, and managed long before it becomes a crisis. That's the job: take something loud, uncertain, and politically charged, and turn it into something quiet, quantified, and decision-ready.
Anti-Climatic Consulting is an independent climate and finance advisory. We work with investors, companies, and lenders who need climate translated into real financial terms — not sentiment, not slideware, but numbers that hold up in a model, a memo, or a deal. We're deliberately lean: you get the senior person, doing the work.
Peter Howard
Principal
Peter has spent 15+ years bringing a commercial lens to climate — decarbonization, the energy transition, and physical climate risk — across infrastructure, energy, and real-asset investments. He underwrites climate-related upside and risk the way an investor does: asset-level financial models, structured decarbonization projects, and complex scenario analysis translated into clear financial impact for investors, boards, and senior executives.
That combination is unusual. Peter pairs deep technical climate expertise — GHG accounting, physical and transition risk, scenario analysis (IEA, IPCC, NGFS) — with real corporate finance and accounting: project finance, deal structuring, credit analysis, and financial modelling. He's as comfortable with a life-cycle emissions model as with a probability-of-default calculation.
Selected background
Advised institutional investors representing ~$100B in assets across Canada, the UK, and Europe — reducing client portfolio carbon exposure by 20–40% while managing transition and allocation risk.
Instructor, Climate Change Strategy, University of Toronto — teaching applied climate strategy to senior finance, consulting, and corporate professionals (recent rating 4.4/5, among the highest in the program).
VP, Project Development & Sustainability, Pond Technologies — led development and underwriting of ~$35M in co-investment, grants, and debt for capital-intensive decarbonization projects, and built a $5M/year technology-licensing practice.
Senior Policy Advisor, Ontario Ministry of the Environment & Climate Change — advised government leadership on carbon-market and emissions-regulation design, and led investment diligence on ~$30M of early-stage funding.
Manager, Climate Change & Sustainability, PwC — delivered climate-risk and sustainability engagements for large corporates, reporting to executives and boards.
Director, Zerofootprint (London, UK) — built a climate-advisory practice and developed carbon-offset projects for international clients.
Credentials
Published: Delta Attribution: A New Method for Understanding Changes in Portfolio Emissions, Journal of Impact and ESG Investing (2025) PCAF-certified (Partnership for Carbon Accounting Financials) CPA (in progress), CPA Ontario ISO 14064-1 (GHG Inventories); LEED Accredited Professional Master of Environmental Studies (Environmental Economics), York University; Diploma in Business & the Environment, Schulich School of Business; BSc Combined Honours, University of King's College
Based in Toronto. Working with clients across Canada, the US, and Europe.
15+ yearsacross climate and finance
~$100Bin assets advised across Canada, the UK & Europe
U of Tinstructor, Climate Change Strategy
PublishedJournal of Impact and ESG Investing
PCAFcertified; background at PwC & climate metrics and targets
Carbonmarket veteran — in credit creation and market trading
Get in touch
Let's talk it through.
If you've got a climate question with a number attached to it — a deal to underwrite, a raise to support, a book to protect, a carbon opportunity to test — I'd like to hear about it. The first conversation is a conversation, not a pitch.