"Our goal is to generate significant risk-adjusted returns for investors that not only drive large-scale carbon emission reductions but also maximize social and environmental impact."
- Andy Ertel, CIO

About Us

Evolution Environmental Asset Management, LP (“EEAM”) is a US based cutting-edge asset manager at the intersection of traditional investment funds and environmental markets. Powered by an investment team with decades of experience in the environmental markets supported by world-class infrastructure, EEAM employs carbon finance to help scale up premium climate solutions globally. As seasoned environmental markets pioneers the team is uniquely qualified to capitalize on emerging environmental opportunities. All investment decisions are guided by a strict best-in-class ESG framework.

rounded top for Our Principals section

Our Principals

Our Leadership Team has unparalleled experience, and expertise, across all carbon, environment, and other market segments. Our four partners have combined:

20+ years

active in fund management

40+ years

C-level experience

60+ years

active in carbon markets

100+ carbon projects

developed and managed

250+ carbon purchase agreements

agreements negotiated and transacted

500m+ tons of carbon

traded or transacted

Andrew Ertel linkedin profile Chief Investment Officer

  • Former Founder and CEO of leading global brokerage firm Evolution Markets established in 2000
  • Environmental and carbon market pioneer since 1994
  • Structured 100+ carbon offset projects with investors in over 30 countries

Benedikt von Butler linkedin profile Portfolio Manager

  • More than 20 years’ experience building and managing carbon desks at trading houses and financial institutions, including Hartree Partners, Mercuria, Citigroup, and Cantor Fitzgerald
  • Transacted more than 50 million tons of carbon credits sourced globally and in compliance markets
  • Expert in regulatory and policy frameworks and fundamental carbon market analysis

Our Advisors

Charlotte Streck linkedin profile Managing Partner at Climate Focus

  • Co-Founder and Director of Climate Focus, Former Senior Counsel at the World Bank
  • Renowned international expert on climate change mitigation, forests, and agriculture and advisor to governments, corporates and non-profits on climate policy and negotiations
  • Advisory Board Member at Verra, German Foundation for the Future of the Carbon Market, Independent Member of Althelia Climate Fund
  • Associate Editor of the Climate Policy Journal, Honorary Professor at the University of Potsdam and lecturer at the University of Bayreuth 

Martin Whittaker linkedin profile CEO at JUST Capital

  • Founding CEO of JUST Capital, former Founding Partner at Sonen Capital and former Director at MissionPoint Capital Partners
  • Recently named to the 2020 NACD Directorship 100 – the annual list of the most influential people in the boardroom – and to Business Insider’s 2020 List of 100 People Transforming Business
  • Co-Founder and Board Member of the CREO Syndicate, Board Member of the Carbon Disclosure Project (CDP), Member of the Forbes Finance Council
  • Adjunct Professor at the University of Toronto and Forbes Contributor 

Cary S. Krosinsky linkedin profile Educator, Author, Advisor | Sustainable Finance

  • Leading author of seven books on sustainable investing, with the latest titled “Modern China: Financial Cooperation for Solving Sustainability Challenges”
  • Co-Founder and Director of the Sustainable Finance Institute, Co-Founder of the Carbon Tracker Initiative and Real Impact Tracker, and Advisory Board Member at DeepGreen Metals and NY State Common’s Decarbonization Advisory Panel
  • Widely respected educator and advisor on sustainable finance whose ongoing teaching as Lecturer in Practice includes popular courses at Brown, Yale, Columbia, and NYU 

Staci Warden linkedin profile CEO of the Algorand Foundation

  • CEO of the Algorand Foundation, a carbon-negative Layer One Blockchain focused on social impact and financial inclusion
  • Ran the Global Market Development practice at the Milken Institute, leading its work on capital market development in less developed countries and innovative finance to promote the sustainable development goals
  • Prior senior roles at the U.S. Treasury Department, the Center for Global Development, and the Harvard Institute for International Development

Be a Part of Our Team

Job Opportunities

If you are interested in working with us, please write to careers@eeam.com

Investment Analyst

Job Description for Investment Analyst position
rounded bottom for Our Principals section


Integrity Always

In personal life as in business, integrity should never be compromised. Do the right thing even if no one is watching. Integrity is the basis of all trust and also of sustainability.

Keep a Positive Attitude

Always keep a positive attitude towards your team, your work and your clients. Humor, patience and empathy go a long way. “The problem is not the problem. The problem is your attitude about the problem." (Captain Jack Sparrow)

Have Conviction and Think Big

Climate change needs bold ideas - and their execution. Conviction doesn’t mean being stubborn. It means sticking to your thesis, stand up for your beliefs and be loyal to your partners even when the going gets tough - as long as you keep listening, reflecting and learning.

Do Good and Do Well

Everyone wants to do well and investors expect us to deliver superior returns. We are committed to delivering results while contributing to a better world and doing no harm. The nascent pricing of environmental and social attributes through markets provides an incredible opportunity to do good and do well.

Be Passionate and Humble

Love what you do, respect and inspire others, be open to new ideas, value merit over hierarchy and cherish achievements, but never stop. Especially when dealing with developing countries and local communities as a Western investor, it is important to show and earn respect by being humble.

rounded top for Corporate Citizenship section

Corporate Citizenship

We strive to source and help generate carbon credits of the highest integrity and quality. With this in mind EEAM has joined and adheres to a number of sustainability initiatives, listed below.

PRI | Home

The PRI, a UN-supported network of investors, works to promote sustainable investment through the incorporation of environmental, social and governance factors into investment decision-making.


Ocean Stewardship Coalition | UN Global Compact

Sustainable Ocean Principles. A standard for healthy and productive ocean. As described in Sustainable Development Goal 14: Life Below Water, there is an urgent need to protect and restore the health of the ocean, which is rapidly deteriorating due to increasing temperatures, acidification, depletion of natural resources and pollution from land and sea.


A European Green Deal | European Commission

Commission proposes transformation of EU economy and society to meet climate ambitions. On 14 July, the European Commission adopted a set of proposals to make the EU's climate, energy, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.


Guidelines for multinational enterprises - OECD

The OECD Guidelines for Multinational Enterprises are government-backed recommendations on responsible business conduct to encourage sustainable development and enduring social progress.


Guiding Principles on Business and Human Rights

Guiding Principles on Business and Human Rights Implementing the United Nations “Protect, Respect and Remedy” Framework New York and Geneva, 2011


In addition, EEAM ensures that 100% of its power consumption is generated from renewable energy and that all travel related CO2 emissions are compensated with twice the amount of high quality carbon credits, thus going beyond carbon neutral travel.

rounded bottom for Corporate Citizenship section


This is a small selection from EEAM’s curated Voluntary Carbon Market Resource Guide. Please contact us to receive the full version which contains over 60 sources of valuable information related to carbon finance, technology, policy and science.

McKinsey Sustainability

How the Voluntary Carbon Market Can Help Address Climate Change

December 17, 2020

Berkeley Public Policy at the Goldman School

Berkeley Carbon Trading Project’s Voluntary Registry Offsets Database

April 12, 2021


The VCS Project Cycle: Step by Step

November 13, 2019

Ecosystem Marketplace

New Tools Help Quantify the Sustainable Development Benefits of Carbon Offset Projects

March 8, 2020

Trove Research

Future Demand, Supply and Prices for Voluntary Carbon Credits - Keeping the Balance

June 1, 2021

rounded top for Corporate Citizenship section


Subscribe for news, content updates, and original research

Investor Login

Login user/password failed. Please contact accounts@eeam.com