The International Energy Forum (IEF) and the Global Association of Risk Professionals (GARP) convened Part III of the Global Energy Risk Forum Series focusing dialogue on rapidly evolving energy and climate policy and business strategy in respect of Socially Responsible Business Practices and Implementation of Environmental and Social Governance Standards (ESG) on 24 November 2020.
Dialogue at the virtual IEF-GARP Global Energy Risk Forum, the third in a four-part series, deepened insight in this important but highly complex area in preparation of the inaugural IEF-GARP Global Energy Risk Forum on Sustainability in an Evolving Risk Environment that is currently scheduled to take place on 26 May 2021 in Vienna, Austria.
The Secretary General of the IEF, Joe McMonigle and Richard Apostolik, President and CEO of GARP, provided opening remarks and welcomed invited guests. David Port, Partner, TDI Capital Advisors set the scene and moderated panelists contributions from Carine de Boissezon, Chief Sustainability Officer, Électricité de France (EDF) and Ken Geren, Managing Director & Chief Investment Officer, Union Bank of Switzerland (UBS). Discussions among senior energy sector practitioners took place under the Chatham House Rule and touched on several questions including:
- Is there a conflict between the goals of impact investing and the risk return hurdles demanded by capital markets? How do investors address that?
- Should we await regulatory guidance or let qualitative aspects of investment decisions and investors preferences and mandates determine how and where we deploy capital? Do metrics matter? If so, why?
- Are we prepared to face the costs of understanding supply and sales chains associated with investment targets?
- Does the provenance of investor funds matter? Should it be "all - or - nothing"?
- What part of the growth curve is most attractive: venture, early revenue, public, private?
The Chairman of the IEF-GARP Global Energy Risk Forum Steering Committee, Vincent Kaminski, Professor of Practice of Energy Management at Rice University delivered concluding remarks and high-lighted the importance of ongoing dialogue on the IEF platform in collaboration with partner organisations. The fourth virtual IEF-GARP Global Energy Risk Forum on Emerging Threats to Energy Security is scheduled to take place in April 2021.