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First IEF-GARP Global Energy Risk Forum: Energy Security and Transitions in the New Risk Environment

13 - 14 June 2022, Madrid, Spain

The International Energy Forum (IEF) and Global Association of Risk Professionals (GARP) convened the IEF-GARP Global Energy Risk Forum on 13 and 14 June 2022 in Madrid Spain. The forum invited senior energy and climate risk managers from government, industry, and research centers to deepen insight on the five themes explored in the virtual sessions IEF and GARP hosted during the pandemic.

International collaboration successfully absorbed the demand shock that lockdowns dealt to world markets, and advanced global consensus on climate solutions. But a robust return of energy demand during the recovery and sustained weakening of oil and gas investment incentives have steadily increased volatility, energy and commodity prices. As markets tighten, Russia's invasion of Ukraine and the impact of sanctions on physical and financial interactions have seen prices spike and inflation soar.

Though demand has returned to pre-pandemic levels the energy landscape has changed and casts supply side and macroeconomic risks in sharp relief. This presents producers and consumers with new challenges for which a range of policy and risk management solutions to energy security and sustainability questions are being re-evaluated and updated. To safeguard an inclusive global economic recovery and allow just and orderly energy transitions to succeed, sessions addressed:

  • Emerging Threats to Energy Security; Managing the Transition with Resilience
  • Evolving Physical-Financial Energy Market Interactions; Extreme Volatility 2.0
  • Transformative Trends in Energy Supply and Demand; What has Changed?
  • Socially Responsible Business Practices and ESG Implementation; Governance

The IEF-GARP Global Energy Risk Forum was governed by the Chatham House Rule. Key findings and insights are included in reports made available in the links on this page to help to inform the global dialogue on energy security and climate change and strengthen energy market governance and sustainability in the new risk environment.

Key questions for discussion:

  1. What is the impact of Russia's invasion of Ukraine on energy security, market stability and orderly and just transitions?
  2. Can extreme volatility and soaring inflation be tempered; how will it affect just transitions and inclusive recovery?
  3. Is 100 percent renewables possible? How will governments revaluate policy choices to stimulate investment in greater energy sector connectivity and resilience?
  4. How do new ESG criteria relate to existing disclosure requirements, energy security partnerships and risk management in general as energy markets change and realign?

Speakers and Moderators

  • Richard Apostolik

    Richard Apostolik
    President and CEO, GARP

  • Paul Cusenza

    Paul Cusenza
    CEO Nodal Exchange

  • Joseph McMonigle

    Joseph McMonigle
    Secretary General, International Energy Forum

  • Dr. Vincent Kaminski

    Dr. Vincent Kaminski
    Professor in the Practice of Energy Management, Jones Graduate School of Business, Rice University

  • Charif Souki

    Charif Souki
    Executive Chairman, Tellurian

  • Novera Khan

    Novera Khan
    Chief Risk Officer, Uniper

  • Carole Nakhle

    Carole Nakhle
    Founder and CEO, Crystol Energy

  • Jean-Pascal Clémençon

    Jean-Pascal Clémençon
    SVP Strategy & Markets, TotalEnergies
    View presentation

  • Ana Palacio

    Ana Palacio
    o, Former Spanish Foreign Minister & CEO of Palacio & Asociados

  • Cornelia Meyer

    Cornelia Meyer
    Chairman and CEO MRL Corporation, Chairman and Chief Economist LBV Asset Management

  • Christyan F. N. Malek

    Christyan F. N. Malek
    Managing Director, Global Energy, J.P. Morgan
    View presentation

  • Helima Croft

    Helima Croft
    Head of Global Commodity Strategy and MENA Research, RBC Capital Markets
    View presentation

  • David Port

    David Port
    Partner TDI Capital Advisers, Former Chief Risk Officer, E-on Global Commodities

Speaker Presentations

Key Links

Previous IEF-GARP Events

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