Corporate America is making important strides in addressing climate change. Almost 600 companies have joined the Science-Based Targets Initiative, nearly 200 have committed to use 100% renewable energy and companies are increasingly investing in technologies that improve environmental outcomes.
This week, business executives, tech entrepreneurs, and investors met in Aspen, Colorado at the Fortune Brainstorm Tech 2019 conference. This annual gathering brings movers and shakers together to discuss the latest tech trends and how businesses can find a competitive edge in a fast-paced marketplace. From retail to transportation to entertainment, technology advances are changing every industry, and knowing where the trends are heading can mean the difference between Netflix and Blockbuster. Read more
We eat a lot of chicken. I see this just from my own family’s consumption of barbecue chicken at our July 4th cookout last week; but consumption trends also show that demand for chicken is steadily increasing among Americans.
Eating chicken instead of other meats is perceived to be the more eco-friendly choice – as poultry has a smaller environmental footprint overall. However, poultry processing is actually very energy-intensive.
Earlier this month, more than 30 oil and gas CEOs and investors captured headlines by meeting with Pope Francis in the Vatican on climate change, then releasing a statement supporting carbon pricing. What is clear from this high-profile event is that the climate crisis has become a societal imperative, an investor priority, and a top tier business risk for the oil and gas industry.
Something you don’t hear every day: oil and gas methane regulations can reinforce innovation and leadership. Numerous new methods to reduce oil and gas methane emissions are being developed; and regulators, environmentalists, oil companies and innovators are working together to craft a new way for innovation to be recognized and rewarded.
I interviewed Drew Pomerantz of Schlumberger, the world’s largest provider of oilfield services, about what new methods and technologies are available to reduce oil and gas methane emissions, what their impact might be, and what is needed to realize that potential.
Over the past few weeks, companies like BP, Equinor, Exxon and Shell have publicly stated their support for direct federal regulation of methane. It is not every day that a company will ask for more rules rather than less. What’s one of the driving forces behind these public position reversals? Investors.
Investors have been an important pressure point in moving these companies to their new policy positions, and they continue to wield their influence to encourage more companies to join.
Since 2017, ExxonMobil has expanded its U.S. methane leak detection program, committed to its first global methane target, supported methane monitoring technology innovation and encouraged the U.S. Environmental Protection Agency (EPA) to regulate methane emissions at new and existing sources. Although Environmental Defense Fund (EDF) and ExxonMobil are not always aligned on certain important issues, the organizations are working together to understand and reduce methane emissions. Ben Ratner, senior director with EDF+Business, sat down with Matt Kolesar, regulatory manager at ExxonMobil’s XTO Energy affiliate, to discuss the company’s perspective on why methane is such a key issue for the industry and how technology and regulation can accelerate industry’s progress.
Though long recognized as a potent greenhouse gas – more than 80 times as powerful as carbon dioxide in the short term – its significance in our battle against climate change has only recently been quantified. The oil and gas industry, for example, is among the largest emitters of methane on the planet, and research (including some by EDF scientists) has documented that far more methane seeps out of wells, pipelines, valves and other points in the oil and gas supply chain than energy companies and official emission inventories report.
Businesses today are taking basic services and turning them into well-designed, convenient user-friendly experiences. You see it every day with companies like Spotify and Seamless. Or Netflix, which is suggesting I watch The Great British Baking Show, based on my family’s viewing-history.
Now, imagine the possibilities if we applied this business model to sustainability.
The Supply Chain Solutions Center does just that. Launched today in partnership with over 10 leading environmental NGOs, this innovative platform puts resources and expert advice at the fingertips of sustainability professionals.
At the Baker Hughes GE Annual Meeting this week in Florence, Italy, a CEO began his presentation with this bold adage: “Digital strategy = Business strategy.” Executives on nearly every panel pointed to the digital opportunity.
As the oil and gas industry invests in the digital transformation to improve competitiveness, companies should seize the opportunity to integrate methane emissions management into their broader digital agendas, as a key way to maximize value and stay competitive in the low carbon energy transition.