Energy Capital The Magazine-April 2022-Edition 10

FOR INFRASTRUCTURE DEVELOPERS, INVESTORS AND INDUSTRIAL USERS APRIL 2022, ISSUE 10

Energy Transition and the future of Energy

WOMEN IN INDUSTRY • Carolina Torres - Cognite • Lisa Hill - Argon Digital • Patricia Rubio - Isotrol • Susan Nash - AAPG • Teresa Nealon – Esalinity

INTERVIEWS Al Barner - Fleet Advantage Brent Lewis - Carbon America John Zahurancik - Fluence Shahab Mehraeen - LSU

40th annual CERAWeek 2022 "Pace of change: Energy, Climate, and Innovation"

Energy Capital Magazine ANALYSIS · 40th annual CERAWeek 2022 "Pace of change: Energy, Climate, and Innovation” · Automatic control of energy systems that involve renewable power Dr. Shahab Mehraeen

WOMEN IN INDUSTRY · Another day another dollar, another day, another 79 cents Carolina Torres · Reach the age of 80 feeling proud of yourself Teresa Nealon · Biding on women Patricia Rubio · Leading in the tech industry Lisa Hill

Table of Contents

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Energy Capital Magazine

Contact Information

INTERVIEWS

· The importance of strategic fleet solutions Al Barner · Making the energy transition a reality Brent Lewis · Flexible Power Systems John Zahurancik · The solution for users and industry Peter Bryant

MANAGERS Rubi Alvarado – General Manager Aldo Santillan – Managing Director & Editor in Chief Noe H. Saenz – Editorial Board Chairman DESIGN Gonzalo Rivas – Senior Designer Aleysa Sanchez – Senior Designer EDITORIAL STAFF Elizabeth Garcia – Editorial Analysis EDITORIAL BOARD Christine Spiro – Member (Our Energy Manager) Todd C. Frank – Member (Burns & McDonnell)

Energy Capital The Magazine is published

by Capital Media Group LLC © 2020. All rights reserved. Digitalized and distributed

by Capital Media Group LLC. We accept no responsibility in respect of opinions, products or services obtained through advertisements carried in this magazine. www.energycapitalmedia.com

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Opinion

Women As The Basic Link Of Progress

By Rubi Alvarado General Manager, Energy Capital Magazine

Behavior patterns or social roles where women only played the part of a housewife have been broken and modified over time. Today, more women are examples of selfimprovement and change; we have taken the lead and are in the race for total equity. Being a woman is no longer an impediment to achieving extraordinary things.

O

ne thing we have in common, men and women, is that we are both capable of achieving important results. Unfortunately, however, labor and economic empowerment have not always been equitable for women. In addition to comprehensive collaboration between the two genders, we must have the confidence to scale up and build our professional and financial heritage.

As stated by Åsa Regnér, UN UnderSecretary-General and Deputy Executive Director of UN Women: "Women's economic empowerment and financial inclusion have been recognized as key to achieving the 2030 agenda for sustainable development."

It is important to recognize the critical role we play as powerful agents of

change, and the enormous contribution we make to the economy and dynamism of any country. We are key actors in building and strengthening communities. In addition to the audacity and courage that defines us, all work touched by a woman is deeply sensitive and devoted.

In such a globalized world, although some may speak of the process of "deglobalization", it is increasingly important

to be united and to walk hand in hand towards our common goal: general well-being and economic stability.

Women, within any economic and social segment, have the capacity and talent to influence different industries. Let us not lower our guard; we have come a long way, but there is still much to be accomplished.

Opinion

Men as agents of change in workplaces Progress in gender equity has been much slower than one would like. However, gender equity cannot be achieved by women alone or by focusing exclusively on women. It requires the involvement of both. According to the figures, the root problem has nothing to do with social class, economic levels, or education.

By Aldo Santillan Managing Director and Editor in Chief, Energy Capital Magazine

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he reason behind men's reluctance is that their role as family provider and breadwinner has been affected, and in many cases, they feel they have lost control of their wives, daughters or female dependents. Men do not know what to do or how to deal with women's freedom to earn the same or more money, occupy better positions or be leaders in decision-making. To a large extent, they feel displaced.

However, experts recognize that in the last two decades men's involvement in achieving gender equity at home, in the community and in the workplace has increased. To continue advancing, in addition to the obvious regarding the change of paradigm, mentality and social perspective of men, experts suggest that it starts at home with an equitable sharing of household chores, care and child-rearing, as well as care

for the elderly, disabled and sick members of the family.

All genders must be partners and allies in the construction of a more just and equitable society. Men must act as agents of change in the workplace and leadership is required for the culture to change attitudes and behaviors within an organization. This is achieved by allowing equal access to employment, appropriate conditions and decision-making.

Male leaders in government institutions, private enterprises and non-governmental organizations must provide positive models of gender equity by incorporating fair practices,

ALL GENDERS MUST BE PARTNERS AND ALLIES IN BUILDING A MORE JUST AND EQUITY-RESPONSIVE SOCIETY. anti-discrimination measures and gender inclusion in decision-making, as well as combating sexual harassment in the workplace.

It is not enough to say that we are against violence and inequality; we need to take active steps to ensure that we all act accordingly.

Analysis

40th annual CERAWeek 2022 "Pace of change: Energy, Climate, and Innovation" ON THIS YEAR'S EDITION OF CERAWEEK, WE WERE HAPPILY SURPRISED WITH SO MANY ADVANCED PROJECTS AND COMPANIES, ALL READY TO GIVE THE NEXT STEP TOWARDS THE FUTURE. THEIR TECHNOLOGIES AND HOW THE BUSINESS LEADS THE CHANGE TO A BETTER LOT IN CREATING A MORE SUSTAINABLE INDUSTRY FOR THE ENVIRONMENT.

Analysis

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or those unfamiliar with this annual event, this is one of the most important gatherings in the energy business.

The location was Huston, Texas, and essential people in the industry from all over the world gathered to convene, talk and create new ties that later on could evolve into good business between them.

In celebration of its 40th edition, this year's convention was the "Change Step: Energy, Climate and Innovation" theme. The theme raised the expectations of the industry leaders because, as we all know, the market and the world are evolving, and we must look forward to developing with it, and that's why it turned out to be a fascinating week for all of us.

The first day started strong with the opening address from Hon. John Kerry, US Special Presidential Envoy for Climate, followed by

a stretch program of chats that included: Darren Woods, Chairman & CEO, Exxon Mobil Corporation; Patrick Pouyanné, Chairman of the Board and CEO, TotalEnergies; Mike Wirth, Chairman of the Board & CEO, Chevron Corporation; Hon. Daniel Sullivan, United States Senator, Alaska, and more.

On the second day, the expectation grew when the schedule was released. One of the day's topics was "Sanctions, Cyber & Ukraine Crisis."It was featured by leading cyber expert, William Crumm, Senior Advisor, Blue Voyant; Roger Diwan, Global; Daniel Russel, President & CEO, U.S-Russia Business Council; Angela Stent, Director, Center for Eurasian, Russian and East European Studies at Georgetown University; and last but not least Fred Kempe, President & CEO, Atlantic Council.

This topic was crucial because the energy industry leaders, and many other sectors, are looking for some assurance in times of uncertainty.

With the rise of this new potential investors that IT'S AN conflict between Russia and approached 8 Rivers over Ukraine and the testimonies the last 15 years, SK was UNPRECEDENTED and statements done for both the first that fully shared ALLIANCE BETWEEN our vision of a whole ESG parties, more information and CANADA'S MOST security are crucial. system”. Said the coEXTENSIVE founder and Executive "The American people did not Chairman of 8 Rivers want in any way to support Putin's OIL SANDS. war by buying Russian energy."

Capital, Bill Brown.

Stated Former Democratic U.S. Another big surprise was Sens. Mary Landrieu and Heidi the announcement made Heitkamp, bought co-chairs of the Leadership Council by CEOs from the oil sands in North America, of "Natural Allies for a Clean Energy Future." They also where they made a statement about their said, "We never want to be in a position that leaves efforts to get to net-zero emissions. It's an us vulnerable to hostile nations like Russia that use unprecedented alliance between Canada's energy as a weapon." "Clean natural gas can help most extensive oil sands; The Canadian Natural, us reach our climate goals faster and secure our Cenouvus Energy, ConocoPhillips Canada, Allies, without sacrificing affordability or reliability. Imperial, MEG Energy, and Suncor Energy put We need to come together around the facts, not together the Oil Sands Pathways to Net Zero ideology, to get this done."

Alliance to achieve this initiative.

And talking about assurance, "Assuring Stability "The Pathways Alliance has a well-defined in Energy Markets" was another topic on the day's plan to reduce current oil sands emissions of schedule. Led by H.E. Mihammad Sanusi Barkindo, 68 megatonnes per year. This will happen in Secretary General Organization of the Petroleum phases over the next three decades to ensure Exporting Countries (OPEC). And Jeffrey Currie, Global both near – and long-term progress," said Alex Head of Commodities Research in Global Investment Pourbaix, President & Chief Executive Officer Research (GIR) Goldman Sanchs International. of Cenovus Energy. Also stated, "By tackling One of the primary purposes of this week was to bring into discussion environmental solutions to help clime change. Also, the reduction of greenhouse gas from the energetic industries; and one of the grand announcements of the day was the USD$100 million Investment made by SK Group to 8 Rivers to accelerate the decarbonization in Asia and all over the world towards 2050's goals. “Partnerships are precious. At the simplest level, they are about compatibility of execution. They are about the compatibility of vision. Of all the

Analysis

our emissions challenge head-on, we're working to ensure the oil sands can offer Canada, and the United States, a sustainable product and a higher degree of long-term energy stability and certainty."

That same day the conference "Voices of Innovation" took place. Ran by Sunita Narain, Director General, Centre of Science and Environment (CSE); DR. Ernest Moniz, Founder & Chief Executive Officer Energy Futures Initiative and Deepak Bagla, Invest India, Managing Director & Chief Executive Officer.

The OGCI announced its "Aiming for Zero Methane Emissions Initiative" for the oil and gas industry in the morning. The CEOs from Aramco, BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell, and Total energies, approve it already. They develop this initiative on the beliefs of the avidness of methane emissions from the sector and create five essential points to consider for all those who sign the agreement, such as striving to reach neat zero methane emissions from the operating oil and gas assets 2030.

The final agreement happened during CERAWeek's conferences. The OGCI wanted to encourage the oil and gas companies to join their partners in this approach. "We recognize that WE RECOGNIZE THAT ELIMINATING eliminating methane emissions from the upstream oil and gas industry METHANE EMISSIONS FROM THE represents one of the best shortUPSTREAM OIL AND GAS INDUSTRY term opportunities for contributing REPRESENTS ONE OF THE BEST to climate change mitigation and SHORT-TERM OPPORTUNITIES FOR for advancing the goals of the Paris agreement," said OGCI Chair Bob CONTRIBUTING TO CLIMATE CHANGE Dudley. "The time has come for us MITIGATION AND FOR ADVANCING THE to go further, and we believe that GOALS OF THE PARIS AGREEMENT, the oil and gas industry can and should lead this effort."

OGCI CHAIR BOB DUDLEY In other news and according to the IEA, solar and different clean

energies are required to accomplish the net-zero emissions agreement by 2050. The National Renewable Energy Laboratory estimation said solar panels will cover 3 million acres by 2030. And the announcements kept coming when SolaREIT released to the public the news about their USD$100 million solar lease securitization with Nuveen. They pretend to benefit the landowners and the solar panel industry and speed the clean energy transition.

"We're thrilled to work with and complete this securitization led by Nuveen, a clear leader in clean energy investment, to expand solar lad financing options-and help speed the clean energy transition." Said Gautam Chandra, Managing Director of SolaREIT, "SolaREIT's solutions supported by Nuveen's financing reduce the cost of solar and free-up develop capital to do more solar projects, accelerating overall solar adoption." On the other hand, Chris Miller, Managing Director at Nuveen, said, "We are excited to create this investment program with the SolaReit team. This deal is an important step in creating the financial flexibility that allows solar to be a smart investment decision for real estate owners."

Later on, there was a press release about the Offshore Wind Energy Roadmap from Colombia's Government, and they announced their first project.

They are fully committed to diversifying their sources of energy and offshore wind projects that will deploy a capacity of approximately 50 GW. "Today represents a milestone for Colombia and its Energy Transition. With the Offshore Wind Energy Roadmap, we are stepping up in the process of having a cleaner and more diverse energy mix.

The country has a potential for power generation of 50 GW with offshore projects that almost triples the current installed capacity of the entire country, which is 17.7 GW," said the Minister of Mines and Energy, Diego Mesa.

OGCI ANNOUNCED ITS "AIMING FOR ZERO METHANE EMISSIONS INITIATIVE" FOR THE OIL AND GAS INDUSTRY.

This Offshore wind project can result in a US$27 billion investment by 2050. It will develop near the city of Barranquilla. "We have produced 2.8 GW in contracted power with unconventional generation in the last two and a half years. We are taking the policies of the National Government and making them succeed in terms of Energy Transition. This

Analysis

THE MINISTRY OF MINES AND ENERGY AND THE GENERAL MARITIME DIRECTOR (DIMAR) ARE DEFINING MARINE AREAS' ALLOCATION PROCESS TO DEVELOP THE PILOTS AND OFFSHORE WIND PROJECTS.

project will generate jobs and an energy solidity that is very important for the country", said the mayor of Barranquilla, Jaime Pumarejo. Currently, the Ministry of Mines and Energy and the General Maritime Director (DIMAR) are defining marine areas' allocation process to develop the pilots and offshore wind projects. They are now waiting for the corresponding Colombian authorities; APBAQ and CIP sign the initiative to execute it.

Although the first two days were fascinating, day three began and did not disappoint. The Keynote address was on charge of Hon. Jennifer M. Granholm, Secretary of Energy, United States Department of Energy. Right after that, exciting fireside chats with Robert Dudley, Chairman, Oil and Gas Climate Initiative (OGCI); due to the announcement the OGCI made the previous day; the expectations went high to hear more about it. Also, other fireside chats happened with Charif Souki, Executive Chairman of the Board, Tellurian Inc; Jim Fitterling, Chairman & Chief Executive Officer, Dow; Mike Sabel, CEO, Executive Co-Chairman & Founder, Venture Global LNG and Lorenzo Simonelli, Chairman & Chief Executive Officer, Baker Hughes and John Doerr, Chairman, Kleiner Perkins.

One of the high lights of the day came with the evening meeting called "Dinner and Dialogue: Women in Energy" as we all know this is an essential subject nowadays. Something to be proud of is the growing presence of women in the energy industry. Even though there's still a long way to go, the recognition and visibility that little by little the women built over the years is creating more opportunities for others who are not afraid to dream of a career in this industry.

Also the "Voices of Innovation" with Jigar Shah, Loan Programs Office; Lord Browne of Madingley, Chairman, BeyondNetZero and Senior Advisor, General Atlantic, Dr. Ernest Moniz, Energy Futures Initiative, Founder & Chief Executive Officer and Jason Bordoff, Center on Global Energy Policy, Founding Director;

Kara Hurst, Vice President, Worldwide Sustainability, Amazon; and Carol Anne Clayson, Associate Director for Research Strategy, Woods Hole Oceanographic Institution (WHOI) On day four, we prepared for more innovation. We started with Fireside chats on a charge of JeanBernard Lévy, Chairman & CEO, Électricité de France (EDF); Michael S. Regan, Administrator, United States Environmental Protection Agency; David Rubenstein, Co-Founder & Co-Chairman, The Carlyle Group; Richard Glick, Chairman, Federal Energy Regulatory Commission (FERC); JB Straubel, Founder & CEO, Redwood Materials; and Hon. Lisa Murkowski, United States Senator, Alaska We kept going with "Voices of Innovation with Yi Cui, Director of Precourt Institute for Energy, Professor of Materials Science and Engineering, Stanford University; David Victor, Professor of Innovation and Public Policy, School of Global Policy and Strategy, University of California, San Diego (UCSD); and Vijay Swarup, Vice President, Research and Development, ExxonMobil Research and Engineering Company.

We had Nick Akins, President & CEO, American Electric Power, and Pedro Pizarro, President & CEO,

Edison International on Power Strategies for the 21st Century.

There was a discussion about Global Pathways to Net Zero and Beyond with André de Ruyter, Group Chief Executive, Eskom Holdings SOC Ltd., and Juan Ignacio Rubiolo, Executive Vice President & President, International Businesses, AES, There were a book Signings with David Victor, Making Climate Science Work; and Dan Poneman, Double Jeopardy: Combating Nuclear Terror and Climate Change.

And a quick look into the future with the talk of "Next Gen" Future Energy Leaders, presented at the Town Hall.

By the end of the day, there was another "Dinner and Dialogue" with Patti Poppe, Chief Executive Officer, PG&E Corporation, and James D. Farley, Jr., President & Chief Executive Officer, Ford Motor Company.

This year's CERAWeek was a very refreshing tour towards the future. Energy leaders worldwide are looking forward to creating and updating how they do business by changing and innovating technologies to reinforce their commitment to this society and globally in terms of climate change. This industry is very much needed. The role the companies play in the way we consume energy is essential. They now are assuming ecologic responsibilities as a game-changer for the world.

USD

$100 MILLION WERE SACURED BY SOLAREIT TROUGH NUVEEN

Industry Smart power grid

Automatic control of energy systems that involve renewable power

The key against energy shortages in the face of unpredictable natural disasters The power shortage suffered in Texas due to the severe freeze a year ago could be avoided with the system created

by Dr. Mehraeen. It deals with automatic control of power systems that involve renewable power.

BY: NORMA MARTINEZ r. Shahab Mehraeen is currently an associate professor at the Division of Electrical and Computer Engineering; at Louisiana State University (LSU). Along with his career, the Professor studied the adverse effects of renewable energy mechanisms on the bulk power system.

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In the past, Entergy used some of his studies in decision-making, especially for downtown networks.

Besides, he also developed algorithms suitable for simulating power systems with penetrations of distributed renewable energy units.

Dr. Mehraeen received his B.S. and M.S. degrees in electrical engineering from Iran University of Science and Technology and Esfahan University of Technology, Iran. He also has a Ph.D. in electrical engineering from the Missouri University of Science and Technology.

He researches power system control, renewable energy integration, fault detection, and microgrids.

Actually, he also does research in decentralized, adaptive, and optimal management of dynamical systems.

Freeze left Texas without power on 2021 A year ago, the southern U.S. suffered a hard freeze, leaving millions of people without power. Also, the natural disaster caused flooding to homes and busted pipes. As a result, 246 people died.

Actually, changes in the climate are causing catastrophes. In general, scientists are working on several projects to face up if new continuous freezing weather hits one more time the area.

Texas system is not connected to the rest of the U.S. power grid. In the case of a large-scale power outage where the state energy production is not adequate,

Industry

DR. SHAHAB MEHRAEEN ASSOCIATE PROFESSOR AT THE DIVISION OF ELECTRICAL AND COMPUTER ENGINEERING; AT LOUISIANA STATE UNIVERSITY (LSU)

part of the grid must be disconnected.

The state’s normal production levels dropped due to the unpredictable freezing conditions that slowed down the gas pipelines that fed the power plants. This condition is more manageable in a connected grid.

Renewable power such as solar and wind could have saved them. Additional backup power generation could have helped too.

For that reason, Professor Shahab Mehraeen, LSU Electrical, and Computer Engineering Associate worked along this period to find out a new system to prevent this type of tragedy.

Firstly, he worked together with Farzad Ferdowsi of University of Louisiana at Lafayette (ULL) and Hamzeh Davarikia of McNeese University. They all focused on developing a smart grid capable of operating during a hard freeze or natural disaster.

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WITH A SMART GRID, GENERATORS SEND CUSTOMERS INFORMATION ABOUT FORECASTS, BLACKOUTS, AND PRICES, AND THE CUSTOMERS SEND THE INFO TO THE PROVIDER; THEIR CONSUMPTION, SCHEDULE, AND NEEDS. – DR. SHAHAB MEHRAEEN ASSOCIATE PROFESSOR AT THE DIVISION OF ELECTRICAL AND COMPUTER ENGINEERING; AT LOUISIANA STATE UNIVERSITY (LSU)

”

Industry

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WITH A TRADITIONAL POWER GRID, THERE’S ONLY ONE-WAY COMMUNICATION, AND THAT’S THE CUSTOMER SENDING THEIR CONSUMPTION TO THE UTILITY. – DR. SHAHAB MEHRAEEN ASSOCIATE PROFESSOR AT THE DIVISION OF ELECTRICAL AND COMPUTER ENGINEERING; AT LOUISIANA STATE UNIVERSITY (LSU)

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The project, a decision-making mechanism The project is a three-year project starting July 2021 and ending July 2024. It deals with automatic control of power systems that involve renewable power.

Adverse effects of renewable power are considered, and remedies will be designed to assure the smooth operation of power systems in the presence of unpredictable renewable energy units.

On the other hand, renewable energy resources can help recover power in the case of natural disasters.

Using a smart grid instead of a traditional power grid A smart grid is a two-way communication system. In the traditional power systems, the communications are unidirectional; that is, from the customers to the utility companies, where the customers report their consumptions to the utility company.

In this project, the benefits of renewable energy units will also be studied and considered in maintaining and recovering power under various conditions.

By contrast, in a smart grid, the customers send their consumption, power needs, schedules, and power spending flexibility, but also the utility companies send power availability, scheduled maintenance, power outages, and instantaneous energy pricing as control signals to the customers.

The system creates a table of possible faulty scenarios and their remedies, and a decisionmaking mechanism applies the solutions under maloperations.

This two-way communication system is capable of better grid control and operation and power management in the cases of component maloperation, power outage, or natural disasters.

Industry However, renewable energy resources involve some levels of unpredictability, and thus, they may impose reliability issues on the power system operation.

For example, scattered clouds may cover a solar farm momentarily, causing a sudden drop in power production, or wind power may be different from the weather forecast, causing issues in power management.

The future path of the energy industry More renewable power will be utilized in the future, and dependency on fossil-fuel power generation will be reduced. Better technology will bring more reliability and cost savings to the renewable power resources making them easier to adopt and utilize.

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As a result, to overcome the energy transition period, Dr. Mehraeen focuses his research on developing tools for studying and predicting the effects of renewable power on the bulk power system.

YOU CAN’T PREDICT EVERYTHING, BUT THEY KNEW THAT THE POWER WAS NOT ABLE TO RECOVER IF SOME PART OF IT IS LOST. THIS GRID WAS DETACHED FROM THE REST OF THE U.S., SO TEXAS HAD NO CAPABILITIES TO RECOVER POWER FROM ELSEWHERE. BUT THEY ALSO DIDN’T THINK THAT THE SNOW AND ICE WOULD FREEZE THE GAS AND THAT THE GAS WOULD NOT REACH THE POWER PLANT. A BACKUP COULD HAVE SAVED THEM. – DR. SHAHAB MEHRAEEN ASSOCIATE PROFESSOR AT THE DIVISION OF ELECTRICAL AND COMPUTER ENGINEERING; AT LOUISIANA STATE UNIVERSITY (LSU)

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These tools include simulation, hardware, and algorithms to study faults, blackouts, and power system stability.

LSU Renewable Energy and Smart Grid Laboratory The research includes Renewable Energy, Smart Grid, Microgrid, Power Electronics, Control, Protection, and Power System Operation at the laboratory.

The renewable energy and Smart Grid Laboratory is part of the Electrical and Computer Engineering Division in the College of Engineering at LSU. This department is active in both undergraduate and graduate research and partnerships with industry, universities, and government agencies.

Women in industry Empowering women

Another day another dollar, another day, another 79 cents The big gap between women and men in the industrial sector CAROLINA TORRES EXECUTIVE DIRECTOR OF ENERGY INDUSTRY TRANSFORMATION IN COGNITE

The industry sector has many stereotypes and prejudices. Most professional women still face obstacles and challenging times.

By Norma Martinez

C

arolina Torres is Executive Director of Energy Industry Transformation in Cognite.

She works for the company since 2021, and prior, she worked for 30 years in the upstream oil and gas industry.

Carolina worked for the last ten years in technology and digital innovation with bp. Her role was head of the transformation for subsurface and wells; she also participated in the reimagining energy and reimagined bp transformation in 2020.

A mixture of men and women is beneficial in the business context.

Women should be empowered in their professional environment. Carolina daily proves that women bring diverse thinking into the business environment throughout her career.

Men used to be very linear; these are all just tendencies, but they're a little bit more competitive.

Women are more collaborative; they are

integrated thinkers. They see things in a matrix way, and sometimes they can see things in a big picture in a way that sometimes men can't see.

types. The new processes are going to require massive and collaborative supply chains. This kind of collaboration will be the norm in the industries.

To be successful, companies Woman leadership will adopt this culture of A WOMAN HAS TO BE HERSELF relevance integration, promoting FOCUSED ON DELIVERING work teams with both men VALUE. TALK ABOUT HERSELF, The world has to change and women, looking for a WHAT SHE DOES, THE IMPACT to make a transition to new primary purpose, reaching THAT HER WORK HAS ALL THE energy. The old energy world the company's goal.

TIME. SHE MUST BE CONFIDENT ABOUT HER DIFFERENCES. THEY is very linear; it is a supply ARE VALUABLE, ESPECIALLY IN chain; there are extractors Actually, many engineers THE COMING COMPLEX DIGITAL and transporters; are women in the industry.

AND MULTI-ENERGY WORLD. a n d s u p p l i e rs a n d But something is happening; people have natural human c u st o m e rs , a n d t h e processes are very linear. In the new energy prejudices. They want to promote and hire people world, things will be a lot more cyclical. As a result, like them or relate to them more accessible. supply chains are going to need to become cycles. We have to work against these stereotypes.

There is going to be a mix of different energy Companies need to remove gender from resumes

Women in industry

THE U.S. HAS MADE PROGRESS, BUT THERE IS STILL A BIG GAP AND A LONG WAY TO GO. THERE ARE A LOT OF STEREOTYPES AND PREJUDICES. THE SAME PERCEPTION IS OUT THERE GLOBALLY, AND IT IS FOSTERED A LOT BY THE MEDIA. SOCIETY NEEDS TO EDUCATE THE NEW GENERATIONS AND SHOW THEM THE ACTUAL VALUE. ON THE OTHER SIDE, WOMEN HAVE TO SUPPORT IT AND BE PATIENT.

and focus on abilities and qualities. We need to train people to recognize their biases and realize what is happening; we must put systems in place.

Another day another dollar, another day, another 79 cents Society needs an equalitarian system with equal pay and rights. The countries that have these policies tend to have a much better track record than those that don't. There are a lot of systemic changes that are needed. Society requires education of both men and women, but it can't just have only women fighting for this issue.

The reality is that men receive many benefits from working women; they get more flexible hours, child care, and parental leave; these are not just women's issues. The transition is difficult, but women adapt and gain more participation in every area.

Mentors and detractors The industry sector has many stereotypes.

Most of career women face obstacles and challenging times. Carolina sees these periods as opportunities. She assumes positive intent and shows people something different.

On the other hand, a tendency of mentors constantly works to reach the goal in a project, no matter if the team has a woman member.

A mentor enriches professional life, sees the potential of a workmate, recognizes talents.

Throughout her professional career working in the Gulf of Mexico with a good mentor, she gained the necessary experience from this relationship.

Role of the data along with the energy transition The energy transition will not happen without a significant change in the way data is operated and shared globally. The old energy in the traditional sense is very linear.

For example, a few countries control hydrocarbon, and a few operators have been distributed worldwide to consumers; a few people manage it.

There is a combination of several sources that

Women in industry

will need to be managed and optimized. The new company has offices in Tokyo, Japan, Austin, and energy is not going to be like that. Solar and Houston, Texas. The organization creates software wind are equitably distributed around the world. for oil and gas, power and utilities, renewable energy, Also, consumers are now manufacturing, and other producers. And supply asset-heavy industries.

I STARTED OUT IN 1992, AS AN chains need to turn into OFFSHORE WELL SITE GEOLOGIST; supply cycles consumers Cognite's products I WAS NOT THE ONLY WOMAN regulators. turn industrial data into OFFSHORE ON A RIG WITH 100 customer value by liberating OTHER PEOPLE, I WAS OFTEN As a result, proof of it, contextualizing it, and THE ONLY WOMAN THAT THOSE sustainable practice with making it actionable for PEOPLE HAD EVER WORKED transparency will become users. The team gives WITH; IT WAS LIKE THE FIRST TIME THAT THEY EVER HAD necessary. It requires industrial world technology, TO WORK WITH A FEMALE. collaboration across the from robotics to 3D to players that was never advanced cloud computing.

CAROLINA TORRES EXECUTIVE DIRECTOR OF ENERGY INDUSTRY Working closely with its necessary before. The TRANSFORMATION IN COGNITE new process requires data, customers, it empowered so sustainability is a data industrial users with problem, and success will come from everyone insightful access to contextualized data for the collaborating and sharing data and communicating first time. with each other differently.

Along with a leading Industrial DataOps platform Cognite transforms the industrial sector and core technology, Cognite Data Fusion®, it has a fast-growing team strong enough to weather Founded in 2016, Cognite is an industrial software a pandemic and continue to generate maximum company headquartered in Oslo, Norway. The impact with its products.

Women in industry Empowerment

Take a deep breath and think about how you want to handle the situation so that when you reach the age of 80 you will feel proud of yourself.

Two years ago, things were moving in the right direction for women in the energy sector and beyond. Today, society is trying to prevent women from making choices about their bodies and lives. It feels as though we are stepping back.

By Norma Martinez

T

eresa Nealon co-founded ESal in 2013. She brings 30+ years of business and project management experience in technical projects in industrial manufacturing, renewable energy research, and grant management.

She worked at Coors Ceramics Company and the National Renewable Energy Lab (NREL). More recently, she was the Director of the Wyoming Carbon Capture and Storage Technology Institute (WCTI) at the University of Wyoming.

TERESA NEALON PRESIDENT AND FOUNDER, ESAL

Teresa holds a B.S. in Mineral Engineering Mathematics and Geophysics and an M.S. in Hydrology, both from Colorado School of Mines.

Empower yourself A woman needs to know that no one will empower her. Teresa believes that you empower yourself. You believe it can

Women in industry be done, and you figure out how to do it. In the past, Teresa never pictured herself as an entrepreneur or believed she would start her own company.

Teresa believed in her cofounder’s intellect and thought she could make a successful company out of the technology. So, she handled all the business aspects of the company and had to figure out what needed to be done, for example, properly account for expenses, protect IP, and strategize for business growth. The same is true in the field of CCS. There are many opportunities where companies can play a pivotal role, and Teresa wants to figure out the best fit for ESal.

appointed to the Supreme Court.

But today, society is trying to prevent women from making choices about their bodies and lives. Also, women still earn less than men. They more often need to step away from the workforce to care for children or aging parents, which means they lose countless dollars in pay and experience that are difficult to regain. Re-entering the workforce after leaving as a caregiver, or even for other reasons, like a career change, also provides unique challenges due to sexism, ageism, and even the emotional toll that leaving the workforce creates.

Teresa knows the pendulum swings but, as long as the fulcrum moves forward, things are going well. In some ways, the fulcrum has moved backward. Teresa is unsure what steps we need to take to change this in the larger picture.

Personal life is as essential as work-life In talking with her girlfriend, who is a working mom, Teresa cited better parental leave programs and more flexible work schedules as necessary to improve the WHEN YOU ENCOUNTER success rate of women in TOUGH TIMES AT WORK, LIKE the workforce.

BEING SEXUALLY HARASSED

So, she focuses on what she can control. She surrounds herself with good OR YOU ARE THE MOST people, encouraging them The U.S. focuses on work.

QUALIFIED BUT UNSUCCESSFUL to speak up and utilizing If we want a more egalitariCANDIDATE FOR PROMOTION. their ideas whenever posan workplace, people must sible. Empowering and celacknowledge that personal life is as important as work life. The lack of work-life ebrating them. She also believes in herself and her balance could be a massive contributor to this issue. thoughts and ideas.

For Teresa, as a child-free woman, fear is what prevents an egalitarian system of participation and leadership. White men are losing ground. The world is becoming more diverse, and they are afraid of losing control to people who do not look like them or come from where they come. This includes women.

Empowering and celebrating women Teresa considered that, two years ago, things were moving in the right direction. There was the #MeToo movement, which included her, and women being

Making a difference Teresa is proud of making a difference at work.

She championed a program for first-generation college students that enabled one young man to get a full-ride scholarship to any college in the country.

Teresa spearheaded her company's effort to help a brilliant, capable, and driven individual get his green card. She has provided someone with a job that became a springboard to a better place. Teresa loves finding out that she made a difference in someone's life through her efforts at work.

Women in industry Believe in yourself Some advice from Teresa… a woman needs to always dress for the job she wants. A woman should do whatever is necessary to get away from Imposter Syndrome. It is essential to take the initiative. If you find that difficult, you should look for another job.

The ESal Story Engineered Salinity (ESal) is a technology company currently servicing the Oil & Gas industry. ESal prides itself on its patented expertise in wettability.

liquid, attempts to move upward through the porous media. The capillary forces that make water cling to the rock resist upward movement as the CO2 tries to displace the water to move through the pore throats.

The more water-wet the rock-brine- CO2 system is, the more resistant to the upward movement of CO2 through the rock and the better the residual trapping.

In 2010, Geoffrey Thyne Ph.D. tested low salinity waterflooding to increase oil recoveries in the Minnelusa Formation in Wyoming. After more than a decade of research, Geoff discovered that low salinity wasn't always the answer to increasing oil recoveries. Instead, he found that changing the salinity of injection fluid can change reservoir wettability.

Today, ESal knows why the Minnelusa, and many other formations, failed to respond to low salinity waterflooding. It turns out that the secret to recovering more oil is in the water, but only if you know how your wettability needs to change.

Based on Geoff's groundbreaking work, ESal created tools for screening, testing, designing, and deploying wettability alteration by salinity - Engineered Salinity™.

Engineered Salinity (ESal) ESal can enhance safety and increase storage capacity in carbon reservoirs. The engineered salinity process alters wettability in sandstone and carbonate rocks by using water chemistry.

SOMEHOW, I’VE ALWAYS BELIEVED I CAN DO WHATEVER I WANT, BE WHATEVER I WANT. MY MOTHER ALWAYS SAID MY FATHER WANTED BOYS, SO MAYBE MY FATHER RAISED

The company changes wettability to increase the amount of CO2 stored in the pore spaces and maximize residual saturation to increase retention of the stored CO2.

Carbon Capture and Storage Four mechanisms trap CO2: stratigraphic, solubility, miner- ME AS THOUGH I WAS ONE.” alization, and residual or cap- TERESA NEALON The upcoming years for PRESIDENT AND FOUNDER, ESAL illary trapping. carbon The wettability of the sysIn the following years, the tem determines the effectiveness of residual trap- capture and storage of carbon will become a much ping. In CO2 storage, the buoyant CO2, a supercritical more commercially established technology. The

Women in industry technology is there, but the finances and, therefore, the social desire has not. Through the bipartisan infrastructure law, the government will be awarding billions of dollars to public-private partnerships to get CCS projects in the ground.

CCS is a powerful climate change mitigation technology, but it will also bridge the need for fossil fuels while renewable energy technologies get established in the market. CCS enables us to continue to use fossil fuels without emitting CO2.

storage safety.

Carbon capture and storage (CCS) captures CO2 emissions from industrial sources and injects them into deep, porous underground formations instead of releasing them into the atmosphere.

Capture and injection technologies are constantly improving, but we waste the effort if the CO2does not stay in the ground for generations.

Wettability is the critical factor in the effectiveness of residual trapping and in limiting escape from the pores of the target rock. Current protocols call for removing brine from the target reservoir to make room for the injected CO2.

This means the company will have to dispose of and treat these subsurface brines, adding to the cost of storage. Finding commercial uses for these brines can dramatically impact the costs of storage.

Costs for carbon storage Three critical factors impact the costs of storage. The first is how much each pore space can be filled. The second is how well residual trapping immobilizes CO2. And the final factor is the size of the area of review (AOR).

The area of review is the surface footprint that corresponds to the underground footprint of the storage site. Larger footprints at the surface mean more cost. More storage per pore space means less footprint and a smaller AOR. ESal's RightWater® Technology ESal's RightWater® Technology can engineer the water chemistry to maximize the storage capacity and minimize the subsurface volume required to store the CO2 and the AOR, all while increasing

ESG Vision ESal offers an alternative that does not require drilling, maintains, and even restores the social license, and provides the market with inexpensive oil production that is ESG friendly. Its approach preserves capital, offers significant improvements in ROI while improving efficient utilization of proven resources. It constantly strives to improve technology to provide customers with the most advanced environmental solutions.

Women in industry Patricia Rubio, Country Manager at Isotrol USA

Patricia Rubio, biding on women Patricia Rubio, Country Manager at Isotrol USA, tells us a little bit of her experience.

How becoming a mother changed her life and the importance of a supportive home when it comes to equality.

BY: ANA PAULA FERRER atricia studied Engineering at the University of Seville, in the faculty of Industrial Engineering.

Her first work related to the industry was as an Energy Efficiency Auditor. Later, she worked at the same university in Research and Development for five years.

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After she became a mother, Patricia quit, “I took a break from professional work to care for my son.”

2 years later, she returned to work and started at what is now her current employment, Isotrol.

Patricia comments that she began as a project engineer for Renewable Energy projects in North America; after that, she was promoted to Project Manager. Finally, she went to Boston to take her current position as Isotrol USA Country Manager.

Regarding her perception of a woman’s empowerment in the professional field, Patricia thinks that empowerment comes not only from within each

of us but also from the environment we are brought up in and the community that you can choose as an adult.

“I believe it starts with the support of the family that brings you up, to know that you are a person with equal capabilities and opportunities and that you should not accept to be told otherwise.” Moreover, she mentions that this is later is strengthened when you surround yourself with a chosen family that also supports those values.

She thinks that in the professional field, this translates to choosing a career from your own strengths and not those that may be imposed by society and their values. Also, that it is essential to have an infrastructure of support at home to allow equal performance and dedication to our careers.

To Patricia, a woman’s leadership is as relevant as any leadership; “you become a guide to those you are leading to follow your professional values.”

Women in industry Additionally, she mentions that a woman’s leadership will reinforce the empowerment discussed above, “especially for girls who may not have the ideal support to allow themselves to know, they can become whatever they choose.”

Patricia finds two main differences between choosing a woman for being a woman and choosing her for her capabilities. First, “is discrimination, we can call it positive or negative, but discrimination, nonetheless.”

Secondly, it is simply, in her opinion, where we always need to be. “The question is when you are choosing someone for a position, are we looking past the gender and only focusing on abilities?”. Moreover, she mentions that there will be situations where yes, this is true, and others, unfortunately, it is not.

Patricia explains that job interviews will always have a subjective evaluation from the interviewer. “Until society is not clean of stereotypes, in my opinion, there will need to be some positive discrimination to balance and ensure same opportunities in global.”

Male Predominance The Country Manager mentions that there is a strong male predominance. As an engineer who started her career 20 years ago, she has been in a predominantly male work and got used to it. “I think I grew a thick skin about it.”

Patricia shares that her best friends from college are primarily men, her best work colleagues are men. Also, she leads a team of engineers who are all men; her bosses are all men. “All the other managers in the company are men.”

Furthermore, she states that nowadays, she mostly doesn’t realize she is the only woman unless someone else points it out. And there have been some situations that shook her into that realization. Nevertheless, she

“I BELIEVE IT STARTS WITH THE SUPPORT OF THE FAMILY THAT BRINGS YOU UP, TO KNOW THAT YOU ARE A PERSON WITH EQUAL CAPABILITIES AND OPPORTUNITIES AND THAT YOU SHOULD NOT ACCEPT TO BE TOLD OTHERWISE.”

Women in industry observed that luckily, it is becoming very occasional.

Patricia remembers some situations that exemplify the idea of being the only girl in a room full of boys.

A few years ago, she had a commercial presentation to convince a group of senior electrical engineers that the new solution they had found at Isotrol was what they were looking for.

there, they would always ask why they had moved from Spain. Patricia always answered that it was for work. “They immediately assume it was a move due to my husband’s work, and they turned to him and asked him: Oh yeah? What do you do for work?”.

Notwithstanding, in her everyday life, she is just a colleague working together with her team.

“They were all taking a seat, and one of them had sat next to me. He got closer to me and said: Aren’t you nervous being the only woman in the room and to be presenting this in a crowd of men?”

The importance of education Patricia feels that answering what is lacking in society and education for an egalitarian system of participation and leadership, might be a question above her capabilities and general understanding to give an honest answer. “But I believe the answer is in your questions. Education. Education shapes society.”

Patricia thinks that he was only trying to be supportive in his own way, so she smiled and made a quick joke to laugh it off. “I was not nervous, and much less because they were just men, in any case, it could have been because they were senior specialists, and I had to work well my technical defense very well. But that’s part of my job.”

She highlights that there should be education for girls to be brought up as people with equal opportunities.

Also, boys learn to respect and accept women as equals. “This starts at home, from brothers and sisters sharing house duties, to subjects’ being presented “DON’T LISTEN TO equally at school. Because THOSE WHO QUESTION these share of basic duties YOUR CAPABILITIES will later allow those men BECAUSE YOU ARE A and women to have an equal WOMAN. LAUGH IT OFF. balance of career and personal PITY THEIR IGNORANCE. life.”

The Country Manager reflects that this situation did make her stop later and think, “Why did he think I should have been more nervous for being a woman presenting to men?”

She couldn’t find a justification for his doubt, other than he must have had a wrong YOU DEMONSTRATE perception of what a woman Additionally, the Country THAT THEY ARE WRONG is capable of. “My hope is that Manager asks to stop THROUGH YOUR I cleared that idea of his head, reinforcing divisions at the ACHIEVEMENTS.” as the solution presented was schoolyard for boys’ games approved by all in the room, and girls’ games. “We need and hopefully next time, he wouldn’t have to ask if to relate and play together, so we can later know how to work together.” he found a woman in the same situation.”

Another situation that shakes her back to noticing that reality is that, when she and her husband moved to the USA and began socializing meeting new people

Patricia believes that we have advanced regarding stereotypes and gender roles imposed on women.

“But we need to continue changing to get to the point

Analysis

where we women don’t have to do interviews like this to address it.” She also remarks that education is basic.

About her enriching experiences There are many enriching experiences Patricia has had. One of them is being offered new challenges continuously at Isotrol. Another one is being supported to meet the goals at the office and at home.

“The opportunity to take the position of responsibility of the Isotrol USA office is definitely one of the most enriching both professionally and personally.

Sharing this adventure with my family and being able to support to meet the companies’ goals for the business.” In addition, she mentions that this was possible because her company didn’t see a problem with supporting her as a woman, wife, and mother by making this move. They did all they could to make her feel secure in taking the step. “And it was mostly possible because I have a husband that also bid strongly on my career and adapted to join the challenge. That is also a lucky situation.”

Patricia hasn’t let the fact of being a woman influence it more than any other quality that she may have as a professional. To her, it’s been a fact, but, she would

say that more than a woman, being a mother had the most significant impact on her life and growth.

“I was especially careful after I became a mother, and when I felt ready to join the work force again, to choose a company that supports these principles.

Flexibility and understanding, without limiting the opportunity to allow me to show them that I could bring the same results as anyone else.” She recognized that she worked ten times harder after she became a mother. “All I do is to give my son the best I can.”

Words of advice The advice that Patricia would give to all the women trying to build a career or grow in the professional world is first to “surround yourself with supportive friends and partners, who believe in you and are willing to ensure you have the same base to success. As a man would.”

Her second advice would be, “don’t listen to those who question your capabilities because you are a woman. Laugh it off. Pity their ignorance. You demonstrate that they are wrong through your achievements.”

Women in industry Lisa Hill VP of Argon Digital

Lisa Hill, leading in the tech industry From Austin, Texas, Lisa Hill shares a bit of her story and experience in the tech industry. How being a woman has influenced her professional trajectory and what she has learned in the process.

By Ana Paula Ferrer

L

isa went to MIT and “partially on a dare and partially because I thought it would be more marketable, I decided to major in Computer Science instead of Math.” Since 2005 she has been working with ArgonDigital, currently serving as VP of Technology Strategy.

Empowering women “I feel like women should have the same access to all opportunities as men, period.” And by

opportunities, Lisa means everything, from initial hire, big promotion opportunities, as well as executive leadership.

Nonetheless, to Lisa is also about the little things, such as the settings in which business occurs.

It is common that businesses get done in social settings such as a golf course; “while anyone can play golf, there’s a lot of settings that are really not appropriate where I know in my history, I’ve heard business getting done. The strip club is not an appropriate place to conduct business.”

should proactively look to have diversity in their workforce. The perspective between a male and female is usually a different one, and so by having a variety of voices at the table, “you’ll make better decisions, more informed decisions, and kinder decisions.” The VP thinks that having this diversity of perspectives will actually help businesses excel more.

Reaching equity LISA HILL VP OF ARGON DIGITAL

Consequently, Lisa invites us to rethink the whole setting in which the work actually occurs so that everyone can have that equal opportunity.

In addition, the VP thinks that women bring a different and unique perspective in leadership from men. Also, there is a need for more female mentors, more female role models, and more women showing that breaking the proverbial glass ceiling is possible. “It’s not just because a woman’s voice is important and relevant, but also, we just need to have more encouragement to really change that kind of societal impression.”

Furthermore, when asked about the difference between choosing a woman for a position because she is a woman and choosing her for her capabilities, Lisa said: “I don’t think anyone should be chosen for a position solely because of their gender, being male or female. I do not believe that that is fair; it really should not be the case,” That being said, she thinks that organizations

She also mentioned that there is certainly male predominance in her industry; she recalls being the only girl or one of a handful of girls in a room full of boys. “My freshman year at MIT was a really big deal. Our class was 42% women, which were the highest MIT had ever had to date.”

Lisa mentions how, even in her company, there was a long time when the entire management team was made of men. Nonetheless, today, their team is actually two-thirds women. She thinks this wasn’t a conscious choice.

“I really think that those of us who are women in the team really organically grew into our roles over the years.” The reason Lisa has her position today is because she has proved herself to the organization.

Where she sees that male dominance still is when she goes to more significant industry events; for example, she had recently attended a conference, and although she didn’t have the exact number, it felt like over 90% of the event were males. “The sad part of it was that it really didn’t even bother me or that I really didn’t notice it. That’s just been such a part of how I’ve always grown up.”

Women in industry Lisa believes that in order to achieve an egalitarian system of participation and leadership we should encourage kids from a really young age to explore all subject areas. There are no girls subjects or boy subjects just as there are no boys colors or girls colors; all subjects should be equal opportunity.

Additionally, Lisa mentions the way kids are granted attention in school. There is an age where boys can’t sit quietly and pay attention to the class as a girl can. As a way to control their behavior, teachers give extra attention to the boys, getting them more engaged, encouraging their participation.

“And while they are not consciously trying to limit the girls’ participation, those girls are not getting the same encouragement solely by the fact that they could sit there and quietly learn.”

With this, Lisa remarks that there needs to be some universal changes; becoming self-aware in how we are interacting with others so that

we can have teachers that are reaching out, pulling, and encouraging girls in the same way that they are for boys. “I get it; sometimes it is hard.

Sometimes what you are trying to do is survive the day, right? But my daughter comes home, and she struggles with the boys in the classroom that are being disruptive, causing the environment to not learn. And hopefully, I will raise her to be strong and be a voice to get the attention and have the confidence that she needs.”

The VP recognized that she didn’t have a first-hand experience with gender inequality in Mexico, but someone in her team grew up there. She shared with Lisa some of the practices that existed and still do, to some extent. For example, one that really hit her was the disclosure of the spouse’s income in an interview process. “For me, to think of someone getting paid differently for a position, not based on their merits but how much their family needed the money because of their husband’s income, that is just shocking to me.”

Nevertheless, Lisa sees that some changes are being made in Mexico. “What it sounds like to me is that the increasingly younger workforce is causing a shift in mindset regarding these sorts of things. But there really still could be some stronger enforcement of their labor laws to prevent these sorts of discrimination.”

The VP clarified that also, in the U.S., there’s still some bias that women may be a riskier hire, that they are going to get pregnant, quit, and go have kids. She thinks this is not just a female issue anymore. People are demanding fair treatment, and if they

don’t have it, they are going to leave. “What I would say is that for women whose company does right by them, during those times where yes, they are going to have to take some time off if they are actually giving birth to a child, they will end up being even more loyal to the company.

Those things are meaningful.”

The professional reality “For me, it hasn’t really been about the work itself, but about the people, I get to work with.”

Hence, Lisa’s most enriching moments have been when she has helped a stakeholder to succeed within their own organization; or sat with a coworker to try and figure out that problem that has made him struggle for hours or days; or the time that she spends laughing with her team when they are punch-drunk from working late at night. “It’s the moments of connection for me that stand out. More than the professional accolades or the awards that I’ve won or the team has won.”

your accomplishments and what you can bring to the opportunity that gets you the job.”

Growing up, being a woman didn’t negatively affect Lisa’s career. She remembers that her school gave her many opportunities. They had a gifted and talented program that pulled her out of mainstream classes and pushed her development. She also mentions how her parents were willing to sacrifice to send her to a great school that opened many doors.

Finally, Lisa advises women to grow thick skin. “Be confident in yourselves, don’t let anybody else’s comment negatively affect your self-worth, and realize that you might have to fight to have your voice heard, but it is worth it.”

She suspects that being a girl that was graduating in computer science at the height of the tech bubble was a big part of the reason why she had so many interviews. “Though those circumstances might get you the interview, it is really yourself and

On the other hand, Lisa has dealt with some prospects and clients who only want to deal with a man; “I still struggle with some stereotypical behavior like being in a meeting and the person whom I’m talking to keeps differing and looking to my male colleague, who is actually my employee. Despite me being the one with the authority and the knowledge, and the one answering their questions.”

Some wisdom

Her second piece of advice is that “especially as your career progresses, continue to fight and advocate for a kinder workplace. To treat others as you want to be treated and speak up for others that you see aren’t creating that voice for themselves, encourage them to bring that out. Be that role model for others that you wished you’d had.”

Women in Energy Finance & operations

Riveron: Inclusion and

diversity in the energy industry Riveron is a business advisory firm specializing in accounting, finance and operations. Energy Capital spoke with Annie Rosenfeld, Senior Manager of the company, about her work and the opportunities that women in the industry have today.

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iveron's team's priority is to meet the changing needs of each client by providing relevant resources and high levels of expertise on the job. In conjunction with their clients, they carefully prepare and execute change throughout the transaction and business life-cycle, in both healthy and distressed environments. w Annie Rosenfeld, as Riveron's Senior Manager, has helped optimize the company's financial and technology operations. She focuses on all client portfolios to ensure that each investment is properly configured to meet their short and long-term needs.

In this regard, Rosenfeld's nearly 15 years of experience in accounting and financial functions enables her to prepare and analyze financial statements and capital markets. Thus, her activities improve business processes in terms of profitability, design, documentation, preparation and execution of audits and budgeting.

This extensive experience in public and private companies in various fields, such as now the energy sector, allows her to understand the challenges of

THIS CONTEXT IS INSPIRING CREATIVITY AND COLLABORATION IN THE ENERGY COMMUNITY" Annie Rosenfeld

clients in the sector's landscape. Some of these challenges relate to managing volatility, adapting to and driving the energy transition; as well as digital transformation and environmental care.

From her work in the upstream and downstream sectors of the industry, Rosenfeld notes that many companies are trying to take advantage of the energy transition and sustainability curve. So, while there is still a long way to go, "this context is inspiring creativity and collaboration in the energy community."

IT’S FUNDAMENTAL FOR WOMEN TO RECOGNIZE THE VICTORIES THEY HAVE ACHIEVED SO FAR.

Such cooperation is reflected not only in these sectors, but also in technology, media, e-commerce, industrial consumer products and financial services.

Technology also makes it possible for people to work together as a community," she said.

Annie Rosenfeld also highlighted three necessary factors to consider in this process: innovation, infrastructure and investment. All according to the goals and challenges of each company, but with Riveron "integrating them from an expert vision to find the best solution".

In addition, climate change means opening up to new needs in each of these factors, and

companies in the industry are indeed aware of these emerging requirements. Therefore, in the next 20 to 30 years, solutions and regulations in that regard will have an even greater impact than they do now, at a time when the needs are even stronger than the answers.

In the context of these transformations, one is essential: women's participation in the energy industry. Annie Rosenfeld pointed out that "Women elevate performance and make us more inclusive". In addition, "they are cross-functional and effective leaders, not to mention that we are 50% of the population," she noted.

In the perspective of Riveron's Senior Manager, women's participation is invaluable in innovation and in creating the opportunities presented by the energy transition. This presence is not only personal, but collective, because "throughout the industry there are women who exist and are working closely with the great solutions, but it is still not enough".

She explained that, as great entrepreneurs, women's participation is growing more and more

Women in Energy

and it is essential to communicate these achievements so that the community continues to grow. This growth must be in all business positions, including leadership positions, and in both professional development and networking, and in the fields of technology and mathematics.

"We are also supporting education programs,” Rosenfeld said. This allows the industry to work with the women it needs and, at the same time, to be the industry that women need.

Particularly in Riveron's case, gender diversity and inclusion of women is very important. "There is a growing number of women at all levels and in business consulting," Rosenfeld noted.

Additionally, she expressed her personal and professional willingness to help to increase this presence of women throughout the industry.

In order for companies to motivate women leadership in the sector, Rosenfeld argued that the first thing they must implement, is to recognize the opportunity to change paradigms. This involves not only keeping up to date with the latest issues in the energy industry, but also opening minds to support this diversity and inclusion.

Rosenfeld knows that this is a long process, but to achieve it, companies must make structured plans and programs to close the gap. In this sense, policies and projects must also be flexible to join new talent and capabilities according to the needs of each company.

At Riveron, they have recognized that working differently also entails modeling a new mindset and staying alert to find areas of opportunity. To open up this range of recognition for women's work at the business advisory firm they have also taken educational and training steps.

"This is a daily, constant work, as it directly affects women's activities and business

reality," commented Rosenfeld. In the company, they have carried out programs of inclusion in the work culture, team meetings at the end of the workday to recognize female employees and creating networks for more equitable participation.

Moving towards equity not only improves operational processes, but also opens up avenues for financial benefits. In short, "they help us to be better, both for the experience of employees and customers, as well as for the success of the company". One example of this is that staff stay with the company longer.

Rosenfeld detailed that this inclusion should be taken into account as a long-term attitude and

AS GREAT ENTREPRENEURS, WOMEN'S PARTICIPATION IS GROWING MORE AND MORE AND IT IS ESSENTIAL TO COMMUNICATE THESE ACHIEVEMENTS SO THAT THE COMMUNITY CONTINUES INCREASING.

not just for short periods. She also stated that this approach is indispensable for the business and energy sector, as well as for the industry in general. Thus, the knowledge that is developed in terms of investment, innovation and infrastructure will also be crossed by openness to gender diversity and the participation of women.

Regarding her personal journey, Annie Rosenfeld acknowledged that even with all the obstacles she has overcome and the areas of opportunity she has taken advantage of, she feels good to be working in this business. "We are breaking down those walls that existed for years and recognizing our work to evolve and revolutionize the industry," she said.

Finally, she stated that, in her experience, it is fundamental for women to recognize the victories they have achieved so far. She also expressed the importance of supporting each other not only in one industry, but in all of them.

Riveron's Senior Manager concluded by reiterating her commitment and that of the company to continue opening paths for the transformation to an industry that motivates, supports and includes the work of women and the existence of gender diversity.

Interview

Al Barner Senior Vice President of Strategic Fleet Solutions

Al Barner, the importance of strategic fleet solutions Al Barner, Senior Vice President of Strategic Fleet Solutions, tells us how at Fleet Advantage, they manage their almost two-billion dollars worth of transportation assets.

He also shares the challenges they face and the importance of having strategic fleet solutions.

T

o Al, one of the main challenges is shortage. “We have a shortage of trucks replacement parts, and as you are very well aware, we have a shortage of drivers." Also, he mentions that the supply chain issues that occurred over the last eighteen months have made it a challenge to get new equipment into service. This caused used truck value to sky-rocket.

On the other hand, the VP comments that another issue is that companies are starting to prolong the life-cycle of their equipment, and they are starting to see part shortages. “Now, we’ve known about the driver shortage for quite some time now, and obviously, that’s not getting any better.” Estimates from the American Trucking Association are that there’s 80 thousand driver shortage, and they anticipate that in the next 5 to 10 years, that’s going to grow to 160 thousand drivers short.

Moreover, Al explains that in particular, the challenge with the oil & gas industry, getting the time you have at industrial gas or a hazmat type of application, you need to hire and retain experienced drivers “so those folks are often trying to recruit and a lot of times they are doing that through advertising the quality of their equipment, the culture of their company.”

Communication importance The VP thinks that a lot of leading fleets are leading with culture and “whether you are trying to hire a driver or someone else within the organization, good qualified people are attracted to good strong, corporate cultures and a lot of times we see that the most 72

Interview

IF YOU THINK ABOUT A DRIVER, HIS WORLD OR HER WORLD IS IN THE SEAT OF THAT TRUCK, AND THEY WANNA KNOW THAT THEY’VE GOT GOOD QUALITY EQUIPMENT THAT’S WELL MAINTAINED.

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Interview

LET’S NOT FORGET THAT CLEAN DIESEL TECHNOLOGY IS THE MOST EFFICIENT FORM OF TRANSPORTATION THAT WE KNOW OF TODAY AND WHEN THERE’S A LOT OF UNCERTAINTY IN THE MARKET, YOU WANT TO RELY ON PROVEN TECHNOLOGY THAT’S VERY GOOD, AND IT IS IMPROVING EVERY YEAR.

successful companies have a very good communication strategy for all levels of the organization.”

He emphasizes that one of the issues that they consistently see when they discuss with their clients’ driver turn-over the surveys they receive back is poor communication. “If you think about a driver, his world or her world is in the seat of that truck, and they wanna know that they’ve got good quality equipment that’s well maintained.”

He also added that drivers want to make sure that they are properly compensated if they’re having any type of issues with breakdown and things of that nature that oftentimes impacts their compensation. “So, a lot of the better companies are leading with culture and then, they obviously focus on good newer equipment, that’s one of the recruiting tools and a lot of good companies use to bring qualified drivers in, or to keep them within their ranks.”

When Al starts talking about communication, he thinks everybody in the organization should have a good understanding of the life cycle that the company plans to engage. In most times, 74

Interview

Safety Features

FLEET ADVANTAGE IS VERY GOOD AT IS UNDERSTANDING LIFE CYCLE COST WITH THE USE OF DATA ANALYTICS. that’s very important to the driver; “share with them the total life cycle cost in regards to fuel economy, safety features, maintenance and repair cost and that you have a 36-month window that you plan to replace equipment.”

By this, the VP doesn’t mean that you have to replace equipment every 36 months but that when companies look at their replacement strategy, they should have at least a 36-month replacement plan. “And if the driver sees that he’s going to be consistently in new or well-maintained equipment, then, obviously, the opportunity to retain or hire those drivers improves with that.”

Al mentions that for leading fleets to create a culture that acknowledges safety and driver input, they should have a very aggressive trade cycle.

The safety features are enhanced year over year, so they are improved each model year.

Hence, a lot of the safety features that may have been an additional cost or option four or five years ago are now all standard on the equipment.

“Not only do drivers want to make sure that they have good quality, well-maintained equipment but also want to have the latest safety features.” In particular, when talking about any type of hazmat environment, those safety features are very important not only to the driver but also to the risk management team, the safety team, all way up through the organization.

Moreover, he explains that what we are seeing now is due to the supply chain issues; some companies are starting to extend out those life cycles, which means that they got to be very aggressive with their maintenance and repair programs. Have data analytics to show what the potential breakdowns may be as it hits certain mileage marks.

What they provide their clients at Fleet Advantage is a look at the total life cycle cost by monitoring the odometer reading, fuel consumption, and maintenance and repair cost down to the VRMS code. “Drivers want to drive, they want to be in good safe, well-maintained equipment and 75

Interview

that could be put together in kind of a communication format for them as well so, that they see that the company is working hard to make sure that their career path and their opportunities are supported by this strategy.”

Al also stated that one of the things that Fleet Advantage is very good at is understanding life cycle cost with the use of data analytics. “When we start to look at 18 billion miles with the data that we have in our system, and you start to see that, year over year, the fuel economy improvements, the maintenance repair costs within those warranty periods, and then the safety enhancements on a new model year equipment, you can start to home in on the most effective life cycle.”

Atlas software Atlas is a sophisticated tool that they built. “We have a proprietary technology system; it is a clubbased system, so we are aggravating data from multiple systems that are not currently connected.”

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With Atlas, they have the ability to connect to their client’s shop management system, as well as into their computer system, and they supplement maintenance, fuel, and odometer data with their own historical data such as the cost of funds, new truck OECs, as well as resell value. Once they start to put that all together, they can sit down with their clients and perform a quarterly business review that shows the benefit of taking advantage of those more aggressive trade cycles.

Al explains that they combine that with a flexible finance program, “so we may go out and originate, let’s say, a 5-year lease term. But if we have the data that shows our client that we should extend out of that equipment in year four, they have the ability to do that.”

He mentions that unfortunately, companies are forced to prolong that lease because “we can’t get new equipment and that’s why we advocate our clients that you go to new upfront; that you have

Interview

THERE’S AN 80 THOUSAND DRIVER SHORTAGE, AND THEY ANTICIPATE THAT IN THE NEXT 5 TO 10 YEARS, THAT’S GOING TO GROW TO 160 THOUSAND DRIVERS SHORT. the flexibility to either exchange that equipment early, or have the ability to extend that equipment at a reduced rate.”

COVID-19 challenges and lessons The VP sees uncertainty as one of the main challenges that resulted from COVID-19. It had a very significant impact on the supply chain as well as other market dynamics, such as the war in Ukraine.

In addition, he mentions that when you have uncertainty, the best way to deal with it is to have a good robust plan of at least a 36-month window for replacement strategy but also allying yourself with partners that provide you with the maximum flexibility.

“That’s one of the things that we really focus on at Fleet Advantage; making sure that when we engage our clients in any type of a lease opportunity, we structure properly from the start of the transaction but also give them the ability to exit out at the appropriate time through our early exchange or our extension with the dropdown rate.” Moreover, he explains that all of that is supported by data analytics.

To Al, the lesson is to “have a good long-term game plan, and also you obviously need to be able

to pivot and adjust those game plans.” In their particular example, life cycle strategies, based on what’s occurring in the market. He mentions that the best way to do that is to have proper communication within your company, “have access to data and then with all the data available to us now, we got a lot of white noise, so to speak, in the background; so just adding more data into the pile just gets kind of overlooked having the ability to aggregate that into a useful format and then make business decisions from that.”

The other thing that he would like to stress is “let’s not forget that clean diesel technology is the most efficient form of transportation that we know of today and when there’s a lot of uncertainty in the market, you want to rely on proven technology that’s very good, and it is improving every year.” He thinks, sometimes we get distracted with what the future brings and it’s good to have the foresight to understand what those technologies will offer but “right now clean diesel technology is the best in the market.”

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Industry Brent Lewis, CEO of Carbon America

Carbon America, making the energy transition a reality Brent Lewis, CEO of Carbon America, explains to us how the company is managing to capture and sequestrate carbon. Also, he mentions the importance of energy transition and shares with us a little bit about the conferences during CERA Week in which Carbon America participated.

By Ana Paula Ferrer arbon America is a carbon capture and sequestration company. They develop builton and operate carbon capture sequestration projects in the United States. The company offers a one-step solution to this, and they take responsibility for every aspect of the project.

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In addition, Carbon America chooses from a variety of capture technology options. It manages transportation and logistics, researches, optimizes, selects, oversees, and takes on the liabilities of secure geologic sequestration sites. The company also deals with all the critical enabling activities. Their team is conformed of experts, about 60 people in total, that are participating across the entire capture and sequestration

value stream. Among them are subsurface experts like rig geologists and reservoir engineers, regular touring policy people, pipeline people, project finance folks, and business origination who are developing, building, owning, and operating these projects. They have a number of them in development right now, and “we expect our first project to be capturing and sequestering carbon dioxide permanently next year,” said the CEO. Moreover, Brent mentions that during CERA Week, Carbon America’s team participated in a pioneers panel of other companies that “were similar vintage of ours in terms of the state of the development and how far along we are in terms of progressing on our particular product.”

The CEO comments that a fusion company, a geothermal company as

Industry well as a battery storage company attended the panel. He was able to convey what are some of the innovations that Carbon America is doing that are making them competitive, and a couple of the areas that he tried to convince or share with other people was re vertically integrated, they are able to move fast to try and drive cost down PEOPLE IN TOTAL ARE as related to carbon PARTICIPATING ACROSS THE ENTIRE CAPTURE capture.

AND SEQUESTRATION VALUE STREAM. The second opportunity they had to present was in what they call a pod. Brent described this as a little glassed bubble where there are 20 or 40 or 50 people inside, and he was able to present like a TED Talk on their company; on what they are doing, and the business that they are creating. In addition, he explained that it was a 30-minute presentation with lots of Q&A afterward.

To him, this was a really good opportunity for Carbon America to be able to present itself to a really wide, interesting, compelling audience.

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The CEO stressed how important energy transition was for Carbon America. “It is really critical. I think there’s so much awareness now about climate and climate change, and our company is 100% mission-driven, and that we are about trying to capture as much carbon dioxide as quickly as we can.

So, the energy transition is really all that we are about.”

He also mentioned how there is so much interest from big oil, energy services

companies, investors, private equity, and infrastructure.

This is due to the fact that they are all trying to find a way to participate in the energy transition. “Not only because it is good for the planet but also because it should be a good opportunity for the businesses and returns and a lot of the people that we are working with partners, collaborators, vendors; their investors are telling them they want their direction of the company to be towards a climate-friendly environment even with hydrocarbons. So, energy transition is really so much of the momentum that is driving the success of our company and the expectation of success going forward.”

Finally, the CEO commented that “we believe firmly that carbon capture and sequestration is a really important arrow in the quiver. A piece to the puzzle to be able to help address climate change. We want people to believe that Carbon America does actually do what we say we are going to do.”

Brent Lewis has a BA in Economics from Western University and an MBA from the Kellogg School of Management. He has deep experience in all aspects of energy and infrastructure development as well as finance, including carbon capture and tax equity.

Industry John Zahurancik, President of the Americas Region for Fluence

John Zahurancik, making power systems flexible John Zahurancik, President of the Americas Region for Fluence, tells us about the company. About what they do and how they do it.

He also explains a bit about his participation at CERA Week.

By Ana Paula Ferrer ohn mentions that they have been working on energy storage for many years. “I originally was with the AES Corporation and started working in energy storage in 2007. In about 2018, we combined with Siemens, so Siemens and AES formed Fluence together as a joint venture to expand the outrage of energy storage and to begin the broad on the offering”. The President mentioned that they went public last year with an IPO in October to bring an additional capital.

“To grow and be able to provide more services to the industry.”

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To him, this topic is really universal; it’s something that is happening in a lot of American markets but is also happening in a lot of markets around the world.

“We are working in the U.K., Ireland, Philippines, India, and all kinds of places whereas older assets are being retired as new renewable power generation is coming in.” Moreover, he explained that system operators are looking for ways to maintain reliability and manage flexibility in the power system while doing it at a reasonable cost. “So, as we bring these new assets in, we need to bring something in that complements them and brings IS THE BATTERIES GROWTH flexibility.”

PER YEAR

30% TO 60%

Fluence is a company that is supplying advanced battery systems to the power grid, as well as providing machine-based-learning artificial intelligence optimization of power assets in markets around the world. “We install new energy storage systems that help the grid be more reliable, more cost-effective, and less emitting, and we then optimize the use of those assets to reduce cost and increase revenue for costumers.”

John participated on a panel at CERA Week that talked about valuing flexibility in the power system.

The energy storage systems that they build and develop work with their customers on bringing incredible flexibility. They are very fast in starting; they can absorb energy and supply it.

These storages do all that without any emissions, and then they can bring these optimization engines in to show their clients exactly how to dispatch them to maximize their value.

Additionally, John thinks that utilities in places around the world are really embracing the challenge

Industry

“

WE INSTALL NEW ENERGY STORAGE SYSTEMS THAT HELP THE GRID BE MORE RELIABLE, MORE COST-EFFECTIVE, AND LESS EMITTING, AND WE THEN OPTIMIZE THE USE OF THOSE ASSETS TO REDUCE COST AND INCREASE REVENUE FOR COSTUMERS.”

of decarbonization. Most of them are doing largescale procurements of renewables and looking for ways to reduce the most emitting plants and retire them. “What we found is we can bring energy storage into some of these places where plants are retiring; we can put a new energy storage system in.”

seeing energy storage coming as the new source of firm, flexible power capacity to complement renewable.”

Also, he thinks that we’ll see that mix of renewables, gas, and batteries in a lot of markets for a long time.

“Batteries have a really critical role to play, it’s a new technology that’s been growing 30% to 60% per year, and it’s taking route in almost every country around the world now.”

Furthermore, the President explained that it supports the renewable power that comes into that area by providing a fast, flexible resource. It also allows them to have local capacity and reliability at a reasonable cost. Utilities are SIEMENS AND AES continuing to look out ways they FORMED FLUENCE can make the energy cleaner and TOGETHER AS A JOINT also continue to maintain their VENTURE TO EXPAND traditional role of reliability. That’s THE OUTRAGE OF where energy storage and machine ENERGY STORAGE AND learning operations complement TO BEGIN THE BROAD renewables.

ON THE OFFERING. “I think we are seeing a lot of new energy storage come in. I mean, I think most of the new investment of the sector is coming into solar and wind.” John also suggests that gas has a critical role to play as a fuel that is a reliable and large established base of capacity. “Increasingly, we are

Finally, John mentioned that they have been working across the United States, throughout Latin America, Europe, and Asia-Pacific, so they see energy storage and battery-based systems being a key part of the new market infrastructure as they bring in these intelligent fast response systems.

Then, they need to complement that with artificial intelligence to take the most advantage of it, so “we are very excited about where we are going, we are happy to talk to customers all over the world, and we’ve been working with great partners as we grow this industry.”

Energy Cost-effective models for transition

Let our boldest dreams be for a sustainable energy existence that everyone in the world can delight in

Peter Bryant, Board Chair and Managing Director at Clareo, supports affordable, secure and responsibly sourced energy for all in the developed and developing world. The solution for users and industry is the combination of diverse energy sources.

By: Norma Martinez

Oil and gas companies' strategic challenge The energy transition poses a strategic challenge for oil and gas companies. US companies are still very focused on emissions reductions, as opposed to many Europeanbased companies who are focused on growing their position in alternative energy sources.

When we look at the market caps and multiples for oil and gas companies, there currently is no market reward or penalty for either behavior. However, in the short-term the market is probably giving higher valuations to those companies delivering the higher returns from oil and gas.

PETER BRYANT BOARD CHAIR AND MANAGING DIRECTOR AT CLAREO

Peter believes that the market will eventually adjust, with incentives for those who invest in the energy transition and become diversified energy companies. To capitalize

Energy on this, companies must be strategic in how they approach the transition, while still realizing profits in the short-term. Those two goals are at odds and pose a significant challenge to oil companies. They have to invest in the right approaches at the right time, and deal with stakeholders that have different demands. For example, many O&G companies are high-yield stocks, which pension funds rely upon for their targeted returns. This situation underscores the complexity of the strategic challenge, which extends beyond an O&G company's returns.

example, has invested in 9.9 GW of wind generation, proving it can be profitable; Orsted has a market cap that is about 50% of BP. However, those returns are nothing compared to the profitability of the traditional oil and gas industry; but their market caps and priceto-earnings ratios are substantially higher.

The race for renewable energy

A pragmatic approach to the energy transition

Oil companies can be at a disadvantage when it comes to investing in new businesses, because they aren’t given the same shareholder permission to invest in these lower return, future-facing businesses.

All oil and gas companies seek profitable investments Peter Bryant is an advocate of a just energy transition into the energy transition, and must grapple with two who speaks about a pragmatic approach to balancing both the affordability and opposing forces, which each face social and political accessibility of energy and BP HAS PLEDGED TO INVEST the pursuit of new alternative, pressures: investing in the $5 BILLION BY 2030 IN renewable energies. energy transition or investing RENEWABLES, WHICH IS A in traditional oil and gas.

TENFOLD INCREASE, AGAINST Energy is a fundamental human Most CEOs of the major A TOTAL DOWNWARD REVISED right. People from all nations independent O&G companies, 2020 CAPEX OF $12 BILLION. have the right to affordable, especially those in Europe, reliable, and secure energy, that have realized that a valuable energy company in possibly 20 years will not be a is as clean as possible. The western part of the world pure oil and gas company. The need for companies to often imposes its agenda on nations that are struggling invest in the energy transition has become especially to provide basic, reliable access to electricity, which is the basis for growing prosperity and bringing people apparent given the current situation in Ukraine. out of poverty. The western approach to the energy However, energy companies can’t afford to sink their transition simply will not work for them. A better solution core business, and neither can they afford to disregard is to become innovation centers for technology and the energy transition. The most beneficial move is to enable multiple transition paths, allowing them to see these forces as complementary: to accelerate utilize multiple energy sources, even natural gas and investment in the energy transition and to increase coal, that can be developed in way to reduce or have investment in oil and gas production. zero emissions.

Struggling profitability in a low-carbon world There are several examples of companies that are heavily investing in the energy transition. Orsted, for

Employing policies that increase the cost of energy in developed countries simply isn’t sustainable and doesn’t consider the lived experiences of the middle and lower classes, who will bear the brunt

Energy

BALANCING THE URGENCY OF CLIMATE CHANGE WITH THE PRACTICALITY OF AN ENERGY TRANSITION WILL BE THE MOST PRESSING GLOBAL ISSUE IN THE NEXT DECADE. PETER BRYANT, BOARD CHAIR AND MANAGING DIRECTOR AT CLAREO

of the increased costs as a result of policy and regulatory impositions.

Achieving this will require affordable, accessible, and reliable energy.

Social equity is a key element in a successful energy transition around the world, in the US, UK and Europe, as well as the developing world. Governments should take a pragmatic approach when it comes to developing regulatory frameworks, and they should incentivize more innovative approaches that allow for multiple paths to a more sustainable world.

A more comprehensive, low-emission economy may look like New Zealand, aggressively pursuing a just transition model and providing a framework where Indigenous people, communities, regions, and all sectors manage the effects and maximize the opportunities as the nation reduces greenhouse gases.

New Zealand’s roadmap for transition

Embracing a multi-stakeholder approach

New Zealand is a country that embraces the just transition model as a matter of policy. In 2019, Peter Bryant spoke at The Just Transition Summit, hosted by the New Zealand Ministry of Business, Innovation, and Employment.

In the United States, politicians and activists promote elements of a just transition. But without the proper action, this is just lip service. A key tenant and starting point of a just transition is to codesign policy, regulation, and pathways, including the tradeoffs, with all stakeholders.

The Summit set the groundwork for a stronger New Zealand on multiple fronts. It provides a model that other countries and the international business community can use to create a shared roadmap for a sustainable society, considering the challenges of all stakeholders in this transition. The new plan for nations is to evolve into environmentally sustainable economies without sacrificing growing prosperity.

The purpose of a multi-stakeholder approach is to create a multifaceted view of the effects, opportunities, trade-offs and pathways to form a shared vision. This approach avoids the burdens being carried by those that can least carry it. It also avoids the uneven distribution of the rewards of the energy transition, overt politicization of the social

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Energy

THERE ARE STILL A BILLION PEOPLE WITH INEFFICIENT ACCESS TO ELECTRICITY. ELECTRICITY AND AFFORDABLE ENERGY ARE THE BACKBONES OF GROWING PROSPERITY. issues, and the voices of specific stakeholders becoming louder and more influential.

of the minerals value chain and more broadly innovation/digital transformation. He speaks on these topics extensively at leading conferences and for organizations; most recently speaking at COP26; the Future Minerals Forum (FMF) 2022 in Saudi Arabia, and at CERAWeek 2022.

An American just transition model must set the standard in how policy and policymakers champion each citizen. We need dialogues with indigenous peoples, local summits to COMPANIES MAY HAVE identify risks to communities, A SHIFT IN CAPEX OF and increased federal BETWEEN 30% AND 50% funding to educate about TOWARD RENEWABLE environmental equity.

He has advised many leading companies including Anglo American, BHP, Rio Tinto, Teck Resources, JCI, BP, GE O&G, Baker Hughes, ENERGY IN THE NEXT 3 Castrol, Edison International TO 5 YEARS IS POSSIBLE. Additionally, the country and Goldcorp. Peter is also needs more public and private Co-Founder and Board partnerships; consensus on Chair of the Development the best practices to enact decarbonization; and Partner Institute, a nonprofit focused on improved new programs to prepare workers for a low-emission social, economic and environmental outcomes for economy. communities from resource development projects.

One of the greatest challenges to the energy transition is a secure, reliable, and affordable source of materials during the transition from a fuel-intensive to a materialintensive energy system. A multi-stakeholder approach is critical to achieving all three facets.

Energy specialist Peter Bryant Peter Bryant is Board Chair and Managing Director of Clareo. He is a recognized thought leader on sustainability; the energy transition & the criticality

About Clareo Clareo is an innovation and growth strategy firm that provides expert advice to companies tackle their greatest challenges related to ESG, the energy transition, and digital transformation. The company does not deploy teams of experts to "do strategy" for the clients. Instead, the group works side-by-side to empower teams with a clear vision, a robust set of options to grow in new ways, and the capabilities needed to deliver lasting results.

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