In a way, it was all Baker & McKenzie’s fault. The law firm, one of the world’s biggest, had told Martijn Wilder that branching out to climate finance was a bit too adventurous. This was the topic of discussion when Wilder, the firm’s top climate lawyer, sat down for brunch with former Lazard banker Tony O’Sullivan in London late in 2018.

It was clear to them both that advising major companies on the accelerating shift away from fossil fuels was going to be big business. Over five hours at the Sofitel, the two men hashed out a plan. That continued into the new year in Sydney when at Wilder’s home in harbourside Mosman, they sold the vision to Megan Flynn, then Qantas’ head of climate strategy.