O&G geopolitics and the implications of the ESG agenda

June 2021

Clarissa presented the new landscape of the O&G industry


On June 2nd, the Brazilian National Agency for Petroleum, Natural Gas and Biofuels (ANP) conducted a workshop for its employees on the geopolitics of oil and gas. The event included the participation of Clarissa Lins, founding partner of Catavento, André Clark, General Manager of Siemens Energy Brazil, and Najad Khouri, economist and Middle East expert.

Clarissa Lins conducted a presentation about the O&G industry landscape and the implications of the ESG agenda. Initially, she highlighted the impacts of the pandemic on the sector and the critical elements for its recovery, namely – (i) the pace of vaccination in the main global economies; (ii) the reach of vaccination in vulnerable countries and (iii) the impact of new variants. Throughout 2020, there was a significant drop in investments in the O&G sector, especially in the upstream (32% reduction vs. 2019). Clarissa pointed out that the pandemic contributed to a change in the investment profile. According to the International Energy Agency (IEA), renewable energy sources will account for 70% (US$367 billion) of electricity generation investments in 2021, while fossil fuels would only receive 30% (US$ 154 bi).

Additionally, she reinforced that the climate agenda is dominating the O&G industry’s ESG agenda. Facing challenges challenges associated with the energy transition and net zero emissions by the middle of the century, O&g companies have been adopting new strategies. Clarissa highlighted some examples – portfolio diversification, acquisition of companies towards electrification, and efficiency and competitiveness in O&G activities. She also emphasized the importance of climate change scenarios and climate change governance to support decision-making by leaders.

Finally, Clarissa reaffirmed the importance of public policies and regulation in the climate agenda. She argued that assertive public policies signal the possible paths for the transition to a low-carbon economy, while regulation guarantees their effective implementation. In this context, she presented examples from the main countries leading the climate agenda – USA, European Union, and China.



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