3/10/16
Harvard
Lord John Browne
Oil will be between $35 to $90 although oil is becoming more expensive to produce.
North America and Europe are the biggest consumers of oil and changes there are more important for demand than China, India, and others. Efficiency globally is driving down demand.
Renewables are about electricity
Not corporate social responsibility but radical engagement. CSR good when it is aligned with clear business purpose but now it is detached and institutionalized. Boards now bored with it - what boards talk about at 4:30 on a Friday afternoon. Radical engagement is listening to stakeholders on their own terms. Unilever is one example of a company that is doing this.
30% of corporate profits depend on regulation
30% risk [for a company] of having the wrong relationship with society “We estimated it was about 30 per cent.” As it happens, after the emissions scandal broke, VW’s stock price fell by the same amount. “That is not meant to be the perfect, single-point validation of the theory [put forward in the book],” he went on, “but it’s an interesting observation.”
30% of time dealing with regulators
2% per annum increase in performance by companies which have strong engagement with stakeholders
Talk was in support of Browne's book Connect
Every incident is handled before the incident happens based upon your preparation and engagement - vis a vis Macundo blow out.
Black Rock [VC firm] asking for more detailed business strategies now
Harvard
Lord John Browne
Oil will be between $35 to $90 although oil is becoming more expensive to produce.
North America and Europe are the biggest consumers of oil and changes there are more important for demand than China, India, and others. Efficiency globally is driving down demand.
Renewables are about electricity
Not corporate social responsibility but radical engagement. CSR good when it is aligned with clear business purpose but now it is detached and institutionalized. Boards now bored with it - what boards talk about at 4:30 on a Friday afternoon. Radical engagement is listening to stakeholders on their own terms. Unilever is one example of a company that is doing this.
30% of corporate profits depend on regulation
30% risk [for a company] of having the wrong relationship with society “We estimated it was about 30 per cent.” As it happens, after the emissions scandal broke, VW’s stock price fell by the same amount. “That is not meant to be the perfect, single-point validation of the theory [put forward in the book],” he went on, “but it’s an interesting observation.”
30% of time dealing with regulators
2% per annum increase in performance by companies which have strong engagement with stakeholders
Talk was in support of Browne's book Connect
Every incident is handled before the incident happens based upon your preparation and engagement - vis a vis Macundo blow out.
Black Rock [VC firm] asking for more detailed business strategies now
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Asked him after the event about peak oil and he seemed to agree that peak has already happened for conventional oil.
Also asked him about stranded costs of fossil fuel carbon. He indicated that only coal would have to be left in the ground and he wouldn’t speculate when I raised the issue of divestment.
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