Live from COP29: Are businesses still driving the energy transition?
The Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 15 November 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
As many nations face challenges in meeting their Paris Agreement goals, some businesses are stepping up to fill the gap. Climate action is not just a responsibility but a lucrative opportunity
In this latest episode of The Energy Gang from COP29 in Baku, Azerbaijan, Ed Crooks explores the critical role of businesses in addressing climate change. He talks to business leaders and experts about the challenges and opportunities facing companies at the forefront of climate action. Ed and his guests explore how industries such as steel, chemicals, and transportation are innovating to transition to low-carbon solutions.
Nicolette Bartlett of the CDP, the disclosure platform for carbon and other environmental impacts, says the business opportunities in addressing climate change have soared in recent years. Companies with emissions reduction goals want to drive decarbonization of their supply chains, creating new markets for businesses that can shrink their carbon footprints.
Mike Train, the Chief Sustainability Officer of Emerson, one of the world’s leading industrial automation groups, says his company is still committed to a roadmap for achieving 100% renewable electricity and net-zero emissions by 2030. Mike explains how transparency, innovation, and employee engagement are key to balancing investment costs with long-term growth.
Finally, Ed is joined by the leaders of two groups that work with blue-chip companies including Amazon, Google, Ikea and Netflix. Maria Mendiluce, of the We Mean Business Coalition, and Johan Falk, of the Exponential Roadmap Initiative, discuss why businesses are pivotal in shaping global climate policies. From lobbying for ambitious targets to fostering collaboration across value chains, companies are driving progress even amid geopolitical and economic uncertainties.
The episode also explores the connections between government policies and corporate strategies. Businesses need consistent regulations and financial frameworks to unlock investments and accelerate the transition to renewable energy and sustainable practices.
As COP29 continues, the focus remains on achieving an ambitious deal on climate finance to support developing countries and emerging economies. The conversations from this episode underscore the need for public and private sector efforts to work together to deliver real change.
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Transcript
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| 0:00.0 | Looking to understand the geopolitical and global forces at play shaping our energy future, |
| 0:06.4 | and check out a new podcast series, Energize the Future of Energy, from G0 Media and Inbridge, |
| 0:12.3 | co-hosted by JJ Ramberg and Greg Ebel. |
| 0:15.3 | They dig into the biggest energy challenges and opportunities like AI, policy and innovation, |
| 0:20.2 | with experts like Pulitzer-Winner |
| 0:21.4 | Daniel Juergen and Canadian Member of Parliament at least a rate. Listen on Apple, Spotify, or wherever |
| 0:26.5 | you get your podcasts, or visit g0media.com slash energy gang. Hello and welcome to The Energy Gang, a discussion show from Wood McKenzie about the fast-changing world of energy. |
| 0:50.3 | I'm it crooks. |
| 0:52.3 | And this is the third in our series of special episodes from |
| 0:54.8 | the COP 29 climate talks in Baku, Azerbaijan. A COP is really multiple events in one. Behind |
| 1:01.3 | closed doors, there are the intense negotiations between governments have what action they'll agree to |
| 1:05.1 | take on climate change. And then there are the public events, which are much more like a |
| 1:08.5 | World's Fair, an Ideas Festival or a trade show. |
| 1:11.9 | And that participation by business is controversial. |
| 1:14.6 | Not everyone likes it. |
| 1:15.8 | But other people will make the argument, which I think is a very good one, that at the end |
| 1:19.1 | of the day, it's businesses that are going to deliver most of the innovations and investments |
| 1:22.6 | that we need to tackle climate change. |
| 1:24.9 | So it's entirely appropriate. |
| 1:26.1 | In fact, it's even welcome that they play a |
| 1:27.8 | prominent role here. I've been talking to a number of people who work in business and with |
| 1:31.6 | businesses on various aspects of climate change. First, I talk to Nicolette Bartlett of the |
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