We are launching the first episode in our multi-part NOW podcast series on the future of energy. In this first episode, Brown Advisory’s Erika Pagel sits down with Dr. Atul Arya, the Chief Energy Strategist of S&P Global. They cover the impact of the war in Ukraine, the role of traditional energy companies, the promise of technology and innovation, and the feasibility of reaching the Paris Agreement’s ambitious targets by 2050.
Episode Introduction
Clean energy is in a race against climate change, and despite many headwinds over the years, we have seen a massive acceleration in the global energy transition from fossil fuels to renewables. The transition to a lower carbon economy will be both very long term and extremely complex. Meanwhile, the war in Ukraine; the intensified focus on energy security; the fires, floods and extreme temperatures that demonstrate the effects of climate change—these all underscore the need to escalate the transition.
I’m Erika Pagel. I’m the Chief Investment Officer for Sustainable Investing and a portfolio manager at Brown Advisory. As we think about positioning client portfolios to capitalize on the energy transition, we are encouraged by both technological innovation and the significant investment in climate action that will result from the Inflation Reduction Act. At the same time, we must take into account second- and third-order risks such as supply chains, the environmental and social impacts of mining for the minerals that are key components of renewables, and the water-intensive processes of many alternative energy sources. There are no easy solutions.
This is why I wanted to delve into the energy transition with experts who represent various perspectives. In this three-part series, I will talk with thought leaders who can help us understand how we got to where we are today, the role of traditional energy companies, and the promise of new technologies and innovation to create a path toward a low-carbon future.
To lay the foundation, I invited Atul Arya on the podcast. Atul is one of the foremost thinkers in the energy industry—someone who has run businesses that spanned both oil and gas, as well as solar. Today, Atul is Senior Vice President and Chief Energy Strategist for S&P Global where he analyzes the entire energy value chain. As you’ll hear, Atul highlights the the challenges of reaching net zero by 2050, as outlined in the Paris Agreement.
I wanted to start by asking Atul for his view on the current state of the industry—and where we are in terms of a global energy transition.
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