Mahua Acharya Joins C-Quest Capital as Chief of Staff

C-Quest Capital (CQC), a carbon finance business dedicated to catalysing an energy transition across Africa and South Asia to mitigate climate change, has announced the appointment of Mahua Acharya as Chief of Staff.

Mahua brings to the table an impressive background in energy transition, green finance, and carbon markets. She is re-joining CQC after having managed the India business as its CEO in the early days of the firm, where she led the deployment of the first of its kind, large scale energy efficiency program for Indian households using carbon finance.

“Joining C-Quest Capital is an exciting opportunity for me to continue being innovative at scale, in order to make a meaningful impact in addressing climate chang,” said Mahua Acharya. “My relationship with Ken (CEO) goes back almost two decades, when we were at the World Bank as he pioneered the creation of the carbon market. I am thrilled to be back to working with Ken as he continues to innovate at the forefront of the industry and I look forward to working closely with the extremely talented team at CQC to drive positive change.”

As Chief of Staff at C-Quest Capital, Mahua Acharya will play a crucial role in managing the organization alongside the CEO. Her immediate focus will be on expanding CQC’s engagement in countries worldwide, strengthening relationships with policy and regulatory communities, particularly in the context of carbon markets. With her deep knowledge and extensive network, Mahua is poised to drive CQC’s mission of transforming the lives through access to clean energy technologies and sustainable land-use solutions, the firm says.

“It is wonderful to team up with Mahua again, she is part of CQC history and I am thrilled that we can once again do great things together.” said Ken Newcombe, CEO of CQC. “Her deep expertise in energy transition and carbon markets, combined with her remarkable track record of success, will be invaluable as we expand our efforts to combat climate change and promote sustainable development. Mahua’s appointment reinforces our commitment to creating lasting positive impacts for countries most affected by climate change.”

Prior to joining C-Quest Capital, Mahua Acharya served as the Managing Director and Chief Executive Officer of Convergence Energy Services Limited, a state-owned energy transition company of the Government of India. During her tenure, she spearheaded electric mobility initiatives in India, created and led the world’s largest electric bus program, which achieved record prices lower than diesel alternatives making the program massively oversubscribed. Her ground-breaking work in the sector has earned her international recognition and acclaim.

With over two decades of experience, Mahua Acharya has made significant contributions to green finance, renewable energy, and carbon markets across multiple countries. She previously held the position of Assistant Director-General at the Global Green Growth Institute, an intergovernmental agency comprising 29 countries, where she worked on green investment schemes in 16 nations. Additionally, Mahua served as the Managing Director of a $50 million carbon credit-based impact investment business and established herself as an early pioneer in the carbon market while working at the World Bank in Washington D.C.

In addition to her impressive career accomplishments, Mahua Acharya holds the distinction of being a co-founder faculty member of an executive education program at the prestigious Indian Institute of Management, Ahmedabad. She also serves on the boards of multiple international entities and has been recognized in various listings of women in leadership. In 2021 alone, Mahua received five prestigious awards that highlight her exceptional achievements and contributions to her field. She obtained her Masters’ degree from Yale University, further solidifying her expertise in the energy and environmental sectors.

C-Quest Capital was recently awarded ‘Best Project Developer: Energy Efficiency’ and runner-up for ‘Best Project Developer: Public health’ in Environmental Finance’s Voluntary Carbon Market (VCM) Rankings 2022.

CQC was founded in 2008 and is headquartered in Washington D.C., USA, with subsidiaries in India, Malaysia, Singapore and Cambodia and on-ground teams in Malawi and Zambia. CQC has carbon project operations in over 17 countries across Sub-Saharan Africa, Central America, and South and Southeast Asia. CQC’s Transformation Carbon projects have already reduced CO2e emissions by 27.5 million tonnes and improved the lives of over 30 million people.