Energy producers face pressure to transform their businesses from environmental groups, institutional investors and stakeholders. While they want to see energy organisations take action around ESG performance, the agenda can create confusion and there has been a lot of debate in recent times around measurement and standardisation frameworks across the sector.
In our recent roundtable, DWF's Kirsty Rogers (Partner, Group Head of Environmental, Social and Governance), Darren Walsh (Partner, Head of Power) and Brendan Slack (Banking and Finance Partner) were joined by experts from NatWest, DNB, Deutsche Bank, Kerogen Capital, Triple Point, Suma Capital, Armstrong Capital Management, Chariot Oil & Gas, Afentra, Victoria Oil & Gas and Siemens Energy.
The following issues were discussed:
- Is ESG a significant agenda for the Energy sector or could it be seen as re-labelling environmental, social and governance initiatives that are already being adhered to?
- Will environment measures within ESG have an impact on the Energy Transition?
- Energy organisations ESG performance can be seen as a response to the Energy Transition by institutional investors – how can organisations embed ESG processes as to optimise performance and draw investors in?
- How do you establish an ESG framework in a multi-national business when there could be major differences in cultural, ethical and environmental contexts between regions?
- How do you compare the ESG performance of inherently carbon intensive Energy businesses with low carbon Energy businesses?
