The New Sustainability Agenda for Supply Chain Leaders
A former BP CEO and current BeyondNetZero Chairman
details his vision for a future based on clean energy.
1. Lord Browne's turning point towards advocating for the transition to clean energy was when he realized the significant use of diminishing natural resources. As the CEO of BP, he took precautions against global warming and firmly believed in the need for cleaner energy.
2. The shift to cleaner energy requires replacing existing infrastructure, which cannot be done overnight and requires a significant investment. According to Lord Browne, to get to net zero carbon by 2050, there needs to be an investment of $3 trillion, but currently, the world is only investing $1 trillion. Governments have a role in setting laws and policies for a sustainable future and effectively using public money to reduce the risk for private sector investment. The private sector has a role in delivering solutions and innovating through venture funding.
3. To increase investment toward clean energy, more significant incentives, approaches, and concessionary finance are needed. Waiting too long to achieve net zero goals will make it more difficult and have a greater impact on humanity.
4. Supply chains are the “arteries of the world” and must be more efficient to lower carbon output. Decarbonizing supply chains requires evaluating their effectiveness, efficiency, and carbon footprint. BeyondNetZero has already invested in companies that enable better planning and supply chain ESG rating.
5. Lord Browne is optimistic about the transition towards clean energy and believes in people's ability to adapt and work towards a bright future for future generations. However, he also acknowledges that continuing current practices will not solve the problem and that continuous adaptation is necessary for the future of humanity.