Carter F. Bales
Carter Franklin Bales | |
|---|---|
| Born | 1938 |
| Died | 2019 |
| Alma mater | Princeton University (Economics, 1960), Harvard Business School (MBA, 1965) |
| Occupation(s) | Investor, asset manager, environmental advocate, conservationist, philanthropist, public official |
| Years active | 1960s–2019 |
| Known for | Co-founder of NewWorld Capital Group; environmental leadership and philanthropy |
| Spouse | Suzanne F. Bales (deceased) |
| Children | 4 |
| Website | newworldcapital |
Carter Franklin Bales (1938–2019) was a prominent American investor, asset manager, environmental advocate, conservationist, philanthropist, and informal public official. He co-established NewWorld Capital Group, LLC, a private investment firm focused on the environmental sector headquartered in New York City, where he held the positions of Chairman and Managing Partner.
Early life and education
Bales completed his undergraduate studies in Economics at Princeton University in 1960 and earned an MBA from Harvard Business School in 1965. In the early 1960s, he worked as a systems engineer at IBM and later served as Systems Design Chief for the First U.S. Army stationed at Governors Island.
Consulting career
In 1965, Bales began his tenure at McKinsey & Company as a management consultant, advancing to principal by 1969. Between 1978 and 1998, he acted as a Director at McKinsey, where he initiated practices in environmental management, information industries, state and local government sectors, media and communications, and spearheaded the firm's information technology division. He was a member of McKinsey's Board of Directors for seven years and led efforts to reshape the company’s strategic direction.
Following his retirement in 1998, Bales continued to contribute as an Emeritus Director and Senior Advisor with a focus on environmental and sustainability issues.
He pioneered "issue mapping" techniques to assist New York Mayor Lindsay's Policy Planning Council in identifying cost-effective urban policies. Additionally, Bales played a key role in establishing enhanced program planning and project management teams within city government to ensure efficient implementation of mayoral initiatives.
Alongside P.C. Chatterjee, Donald Gogel, and Anupam Puri, Bales originated the concept of a “business system” coupled with competitive cost analysis. This approach—featured in McKinsey publications—analyzes how organizations coordinate activities to deliver products or services efficiently while benchmarking against rivals in target markets.
Business career
In 1989, Carter Bales co-founded The Wicks Group of Companies, L.L.C., a private equity firm concentrating on the United States’ information, education, and media industries. He held the role of Managing Partner until transitioning to Emeritus status at the end of 2006.
Bales co-established NewWorld Capital Group, L.L.C. in June 2009, an investment firm focusing on environmental opportunities within middle-market companies across the U.S. and Canada. The firm emphasizes sectors such as energy efficiency, clean energy technologies, water resource management and reclamation, waste-to-value processes, and environmental products and services.
Public service career
Early in his professional journey, Bales served as Acting Assistant Budget Director for New York City, where he led initiatives related to air pollution control, solid waste management, and water supply programs. He was instrumental in implementing the city's program planning and budgeting system (PPBS) and contributed to reforms in housing policy and school decentralization.
A member of the Democratic Party, Bales campaigned for a seat in the U.S. House of Representatives representing New York's 3rd congressional district in 1972 but was unsuccessful amid the Nixon landslide election.
Philanthropy and environmentalism
For over four decades, Bales was deeply engaged in environmental causes. In 2007, he partnered with McKinsey on the influential report Reducing U.S. Greenhouse Gas Emissions: How Much at What Cost? During 2008 and 2009, he supported the UNFCCC process through Project Catalyst by addressing economic aspects of environmental policies both domestically and internationally.
He has held board positions with various environmental organizations including serving as Founding Chair of The North Shore Land Alliance; former Vice Chair of The Grand Canyon Trust; member of the Adirondack Nature Conservancy; participant on the Center for Market Innovation at the Natural Resources Defense Council; and advisor to Resources for the Future’s Advisory Council.
Previously, Bales served as Vice Chairman and Chairman of The Nature Conservancy’s International Committee on its Board of Governors as well as Chair of The Nature Conservancy of New York’s Board of Trustees.
His other leadership roles have included Vice Chairman at the New York State Foundation for Science, Technology and Innovation; Trustee and Special Advisor to Echoing Green Foundation; Chairmanship of The Clean Economy Network’s Leadership Council; presidency of Cancer Research Institute; along with trustee duties at Union Theological Seminary and New York City’s Episcopal School.
In recognition of his contributions to environmental leadership, Skidmore College awarded him an Honorary Doctorate in Humane Letters in 2009. He was also affiliated with the Council on Foreign Relations.
Bales authored numerous publications and frequently delivered presentations on environmental topics. Among his notable works is “Containing Climate Change,” co-written with Rick Duke and published in Foreign Affairs (September–October 2008).
Personal life
Carter F. Bales was married to Suzanne F. Bales, an author and gardening speaker who has passed away. Together, they raised four children and resided in Centre Island, New York.