Responsibly managing the transition from hydrocarbon reliance
Our CCRO community of energy companies recognizes that as an energy company pursues its strategy for transition from hydrocarbon reliance, many new risks must be understood & managed. Renewable asset deployments are often developing more rapidly than related markets or hedge instruments. Transition strategy choices and maintaining compliance with related changing regulations bring significant risks…and opportunities as well.
Risk managers tasked with addressing these new and emerging risks must facing many challenges in order to bring best risk management practices within reach.
Things are changing fast and need to be better understood by risk professionals.
Addressing these challenges and opportunities from a risk management perspective are at the core of what we are all about…
The CCRO Role
We’ve gained a more clear vision of how & where the CCRO can have constructive impact in this expansive subject
It is increasingly clear that the transition process brings opportunity and risk for energy companies. New standards and best practices developed by our industry practitioners will help companies navigate their transition responsibly.
Transition from hydrocarbon reliance impacts the core risks that the CCRO has been addressing for almost two decades: Credit, Market, Operative, Business, and liquidity risks. We have a wealth of industry knowledge and insight to draw from.
Amidst all this industry change, the CCRO continues to be an important communication channel between industry, regulators, and solution providers in all these areas.
What’s Next? A Series of Webinars
Our Group is developing a series of five webinars in 2023, each addressing a critical topic for risk managers dealing with the Energy Transition, sustainability, and all the associated risk challenges. The goal is to provide members with insights into the way forward from key experts, practitioners, and stakeholders in each topic. We expect each webinar will lead to more discussions with members.
These webinars will be attended by CCRO members and limited number of guests. Please do contact us if you would like more information on the webinar series or to participate as a guest or as one of our panelists.
Completed: Webinar #1: REGULATORY CHANGES -
Moderator - Jamila Piracci
Recorded on June 1, 2023
Description: This panel provides an overview of the current & future state of regulations related to the energy transition, with a focus on US and international carbon equivalent* reporting requirements.
Panelists:
Summer Mersinger, CFTC Commissioner
Elizabeth Carlson, Chief Sustainability Officer, Tricon Energy
Tom Birmingham, Principal, TRB Consulting and Former Compliance Head at Emera
Completed: Webinar #2: RATING AGENCIES & ESG
Moderator - Nithya Venkatesan
Recorded on July 19, 2023
Description: This panel provides an overview of the current state of sustainability & ESG scoring practices, with a focus on what information they are collecting, from whom, and how they are using this information.
Panelists:
Steven Estes, Advisory Partner, KPMG
Paul Atkinson, Sustainability/ESG Specialist, S&P Sustainable1
Bill Quadrini, Head of Market Development, S&P Global Market Intelligence
Swami Venkataraman, Associate Managing Director, Moody’s
Completed: Webinar #3:
THE ENERGY TRANSITION: ARE COMPANIES HAVING TO CHANGE THE WAY THEY ACCESS CAPITAL?
Moderator – Mike Prokop
Recorded on September 13, 2023
Description: This panel provides an overview of the current and future state of the capital markets, with a focus on what is being required to access capital and how this is affecting the way energy companies are doing business.
Panelists:
Sally Curly, CEO of Curly Global IR, LLC
Joe Limone, COO & GC of Six One Commodities
December Webinar #4:
Carbon Data Governance
Moderator - Victor Yu
Date Scheduled: 12/12/2023 at 2:00 CST
Description: This panel will provide an overview of the current / future state of ESG data governance, with a focus on carbon equivalent data sources, flow, integration, and accuracy
Panelists: Three executives bringing expertise in the fields of data handling, data gathering, and data security:
Nick Volkmer of Enverus
Bill Lawrence of ITEGRITI
James Adams of KWA
January Webinar #5:
ESG & Carbon Reporting
Moderator - Janine McArdle
Suggested Timing: Mid-January 2024
Description: This panel will provide an overview of the current / future state of ESG reporting within the energy industry, with a focus on carbon equivalent and the development of new requirements, markets, products, and services
Panelists: Will include both enterprise-level and commodity-related risk managers and other experts from within the energy and financial industries
MEMBER FEEDBACK: Understand the challenges & opportunities related to developing best practices in reporting ESG and carbon equivalence performance data to third parties such as rating agencies and supply-chain partners
Join Our Growing Team of Risk Practitioners…
The working group as of January 2023 includes more than fifteen of our CCRO member companies, bringing over thirty energy risk professionals together to contribute their expertise and resources to our shared development efforts. We thank our project managers that have brought together such an insightful founding group of energy risk professionals.
For more information about the working group participants, please contact us at info@ccro.org
The Energy Transition Project Managers:
Mike Prokop
Alliance Risk,
Project Manager
Jamila Piracci
Patomak Partners,
Grp Regulatory Lead
Janine Mcardle
Comet,
Grp Coordinator
Tom Birmingham
Consultant
Grp Coordinator
Victor Yu
KWA Analytics
Grp Coordinator