Sustainability not a 'bolt on' but core to company visions

Opening day of Sustainability Live urges companies to "be brave" targeting economic opportunities in the sustainability sector

Sustainability is not a 'bolt on' and must be core to companies' visions, delegates attending Sustainability Live heard on the first morning of the two-day hybrid event at Tobacco Dock in London.

Urging corporates to be proactive and "go all in" on sustainability, Stuart Broadley, CEO of the Energy Industries Council, said we stand on the cusp of a worldwide economic boom covering all sectors, but particularly involving the renewable energy sector.

"Are you in a position where you can afford to wait or participate?" he said. "Most companies aren't participating globally in these opportunities but with the growth that's coming in almost all markets, why not you? You should see this as an incredible business opportunity, and to make money maybe like we've never seen before."

Despite all the focus on renewables from policy makers and energy companies, Broadley's presentation provided a stark reminder of the dominance of fossil fuels - meaning the energy transition is in evolution rather than revolution. Oil currently hovers around the US$100 market for the first time since 2014.

"Oil and gas is where the money is, at least for the next five years," he said. "If you're not participating in oil and gas, you're not participating in 60 to 70% of the world's energy market."

He added that oil and gas shouldn't be seen as a 'bad market', rather one that needs to reduce emissions, and where companies can add value.

However the post-COVID environment is seeing renewable changes coming apace. China alone installed 17GW of offshore wind last year while in the UK, Scotwind announced 17 projects just in phase 1. While hydrogen's global development is uneven, Russia, US, northern Europe and Australia are leading the way.

"Hydrogen, up until COVID, was a nothing market - but something happened," he said. "Sustainability isn't an idea - it's real and it's impacting all of us."

Share

Featured Articles

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Octopus delivers industry leading service whilst investing in clean energy systems — we will deliver this to the new customers too, says CEO Greg Jackson

Sustainability LIVE links to energy and electrification

Sustainability

Green energy: A hot topic at Sustainability LIVE 2023

Sustainability

Sustainability LIVE London sells out on 2023 conference

Sustainability