When faced with a shortlist of 2 in the Outstanding Individual category for IJGlobal Awards 2023, the independent panel of judges for Europe and Africa opted to recognise the achievements of both… awarding the Infra Pioneer Award to Craig Forrest.

Based on 3 decades in the infrastructure world and what one judge described as an “amazing contribution to the global market”, the panel elected to create the “pioneer” category to reflect the impact he has had.

One of the judges said: “Craig's impact across multiple sectors and geographies over a sustained period warrants this recognition. He is credited with impacting Arup's reach and capability which is instrumental in allowing clients to access investment in new areas.”

Another added: “Craig stands out for the diverse range of sectors and projects supported, demonstrating versatility and wide impact. His focus on continued sector knowledge and development of in-house diagnostics expertise particularly stand out.”

Yet another judge said: “Craig’s clear dedication to – and success in building out – what is now a Tier 1 name in technical advisory truly warrants recognition.”

The judging comments were rounded off with one lauding Craig for “achieving success across multiple decades and driving the sustainability agenda”.

Craig started work at Heathrow in 1989 and has supported the global infrastructure finance community for more than 30 years as an engineer. His career has touched all major trends that have impacted the sector in this time from the early public/private African IPPs, such as Takoradi Phase 1 in 1997, to the recent capital raise of H2 Green Steel in 2023, supporting the energy transition.

Over the course of his career, it is estimated that Craig has supported more than $400 billion of infrastructure investments to reach financial close.

According to the submission: “Arup today is synonymous with engineering excellence in the advice that it provides to the infrastructure community and has won numerous awards as a result.

“Craig joined Arup in 2007 and brought with him his experience of project finance. His vision was to have an investor-centric approach to technical advisory, with engineers, economists and finance professionals who understand the value drivers of infrastructure investments.

“This gave the infrastructure community access to the best of the engineering world, irrespective of asset class, as well as consistent advice in reports that clearly communicate the technical issues that matter.

“The Arup approach is now the benchmark of how the engineering industry delivers advice to the infrastructure investment community.”

Craig has worked tirelessly, building teams around the world that can replicate the Arup infra investor advisory approach, to have local support in every corner of the globe.

Given that the industry is in continual evolution and Arup – through this network of investment advisers – can consistently respond to client needs.

The submission continues: “Through Craig’s vision, Arup is now able to address the full breadth of investment strategies and asset classes anywhere in the world our clients operate, delivering infrastructure that impacts millions of lives.”

Cornerstone transactions include:

• privatisation of New South Wales electricity network Endeavour Energy by Macquarie
• support to Canadian Investment Bank’s funding of Tshiuetin Railway, the first indigenous railroad
• recapitalisation by Goldman Sachs of the Danish state-owned Dong Energy to enable its exit from hydrocarbons and become Ørsted
• support to the UK government to facilitate the injection of development funding for Sizewell C

The submission adds: “Infrastructure impacts the lives of the communities we live in and plays a major role in addressing the climate crisis. Craig has helped our investor advisory teams globally to shape the advice we give our clients as they decarbonise their portfolios or incorporate ESG policies to become purpose led organisations.

“Over the last 3 decades, infrastructure investment has changed dramatically. However, there is an unbending truth, irrespective of the macro trends that shape our industry; they are underpinned by operating, technical assets.

“The ability to access high quality technical advice that underpins investment decisions is vital and can often give an edge.

“The work Craig has done developing a consistent, investor-centric, international approach has helped set a global benchmark for professional technical advice for the infrastructure community.”