Cambridge Judge Business School Discussions on Energy & Environment: Recent Episodes
Cambridge University
Cutting-edge expert commentary, analysis and business insights on the energy, environment and sustainability issues of the day from Cambridge Judge Business School's global faculty, associates and guest speakers.
The economic impact of greenhouse gas emissions from melting permafrost will run into tens of trillions of dollars - and that could be a conservative estimate.
Modelling with figures provided by the United Nations Environment Programme, Dr Chris Hope says the likelihood is that the estimates are too low and that action needs to be taken soon on a special report into the impact of emissions.
Research into conventional and unconventional 'commons' or shared resources is attracting the interest of global companies, states, NGOs and other stakeholders, according to Dr Shahzad Ansari, who argues that identifying certain aspects of human activity as 'commons' - like air and water pollution, over-fishing, de-forestation and land overuse - before major tragedies could enable people to assume far greater collective responsibility.
Pakistan must act now to resolve its continued debilitating power shortages that are grinding industry to a halt and robbing the population of a basic necessity warns Dr Kamal Munir.
Short-term fixes can resolve Pakistan's power crisis including changing the country's power regulatory regime which was introduced through what Dr Munir terms failed privatisation in the 1990s. Longer term, the fuel mix should be revised with greater roles for solar, wind and hydro, and the harnessing of Pakistan's massive coal reserves.
Only 10-15 per cent of the population is motivated strongly to go green if it's not in their own economic best interests. Dr Chris Hope explains that business is key to creating a green economy. Steps are required to ensure that businesses, looking for value-for-money in their energy supply and use, end up with a clean and green product. This can be done by making sure that anything that is dirty has a tax on it to recognise the pollution, the damage and impact caused by that dirty energy. If there is no tax or price on dirty energy and the pollution it causes, there will be no incentive for businesses to go green.
CEOs of businesses in emerging economies are taking the lead over their European counterparts in understanding the importance of sustaining their 'natural capital' - the genes, species and ecosystems that together make up life of Earth. "Historically the emerging economies, particularly China, have not addressed the short-term effect they are having, with its long-term impact, on natural capital, but we've seen a growing change in that," explains Dr Rands.
A recognised expert on energy technologies, Dr Bill Nuttall is predicting a healthy long-term future for the helium industry, with the gas playing a major part in both nuclear fission and fusion. He discusses the tensions of an evolving hi-tech demand for the gas with its unsustainable traditional fossil fuel source. Among the conclusions he makes in his co-authored book, The Future of Helium as a Natural Resource, are that more gas will be needed, reserves will have to be conserved and recycling must be prioritised.
Carbon dioxide capture and storage (CCS) technologies have been described as the best way to combat climate change, but their deployment has been seriously hampered by a poor communications strategy. The information available about CCS is often too technical and fails to address public concern around the social, political and economic issues, explains Dr David Reiner.
As exploration of shale gas reserves resumes in Lancashire in the UK, a leading energy industry observer says EU legislation fails to support an important nascent industry. Dr Pierre Noël, Senior Research Associate and Director of the Energy Policy Forum at Cambridge Judge Business School, believes that European and UK energy policies should concentrate on carbon emissions with credible long-term carbon pricing or taxes. If a strategy was in place, natural gas would displace coal and so reduce carbon emissions in the short and medium terms.
Dr Michael Pollitt defends the energy industry in the wake of criticism over their rising profits by their regulator Ofgem
Dr Shazhad Ansari asks whether organisational academics are prepared to help build new narratives and to reconcile human and social evolution with the physical reality of climate change, or will they simply 'fiddle while the ice melts'?
Dr Michael Pollitt of Cambridge Judge Business School says the UK's green and carbon reduction strategies are surrounded by 'inconvenient economics', a product of the current economic situation.
It's the 'squeezed middle' may end up paying both higher energy prices and helping through taxation to subsidise those who will need government help to pay their bills, says Dr Michael Pollitt of Cambridge Judge Business School.
China's energy security rests on the functioning of global energy markets, whose security is predominantly carried out by America. What effect has this on the US-China relationship?
The cost benefits of energy efficiency need to be weighed up, but we will be 'smarter consumers' by 2030 explains Dr Michael Pollitt.
Dr Bill Nuttall, Dr Michael Pollitt, Dr David Reiner and Dr Pierre Noel discuss European energy markets and policy in the post-Japanese earthquake era. They examine the impact on nuclear policy in the short and longer term and the implications of an extended period of high oil prices.
Was Japan's nuclear industry prepared? Nuclear specialist Dr William Nuttall considers the known unknowns and unknown unknowns
A national policy framework to promote renewable electricity is essential if we are to meet the EU's carbon reduction targets, says Dr Michael Pollitt.
Measures to ban new gas-fired power plants and limit gas exports may be bad news says Dr Pierre Noël.
CCS technology is essential for engaging China and the United States to take action on climate change explains Dr David Reiner. He also urges a note of caution that effort should be put on adaptation to climate change and geo-engineering to prepare for a possible failure of international negotiations on CO2 emissions reduction.
Our competitive energy markets can deliver investment in new nuclear plants says Dr William Nuttall who also believes that Britain should hand it's nuclear energy policy to the European Union.
Energy policy is a hot topic at the moment as Britain, along with the rest of Europe, fights to cut its carbon emissions through a number of different policy initiatives. Is there a right and wrong way to plan for our joint energy futures? Four academics from the School consider the options.
A two-stage nuclear renaissance? Careful long-term planning can ensure nuclear power generation remains a carbon-neutral option explains Dr William Nuttall
Dr Chris Hope explains why a climate change tax could simultaneously deal with polluting energy sources and the budget deficit, leading the UK to a far healthier state than it is in currently
The problem of monopolistic control in the UK electricity industry remains a factor today in spite of several decades of regulation by Ofgem, following privatisation in the 1980s. This would suggest that Ofgem has to focus as much on promoting competition as it ever did. However, a new report by Dr Michael Pollitt of Judge Business School argues differently, saying that the work of the regulator can be put to better use in focusing on two current issues; tackling the problem of climate change and protecting consumers suffering from 'fuel poverty'. In order to adopt this new role, however, the UK needs a fresh model for the regulation of its electricity and gas industries.
We are creating a massive ecological debt by borrowing from the future at a rate that is completely incompatible and unsustainable. We need a new form of capitalism, one where we value the environment, business as usual is therefore not an option." Just what is climate leadership, how can it be implemented and what lessons can we learn from the financial dimension of sustainability. Dr Stephen Peake explains.
As the 2008 UN climate change talks struggle to a conclusion in Poland this week research undertaken at Judge Business School shows exactly how vital it is that international leaders reach an agreement on cutting the world's greenhouse gas emissions. Work by Dr Chris Hope suggests that the mean net present impact on the world's climate, economy and society of cutting down tropical rainforests is a staggering $12 trillion. It is the first time that researchers have put a figure on the present climate change impacts of deforestation.
Falling demand for oil is not just an immediate reaction to the current financial crisis but a response to the structural impact of five years of very high oil prices, says Dr Pierre Noël, an expert in energy economics and policy, who notes that oil prices will rise again due to the cyclical nature of the business. However, Dr Noël believes that OPEC exacerbates these ups and downs by overshooting in both directions and considers the long term implications as the OPEC cartel gathers strength.
Policy makers cannot walk and chew gum. Crises are handled one by one with the most immediate driving all the rest off the agenda. However, Nick Butler, Chairman of the Centre for Energy Studies at Judge Business School, argues that by using public policy, such as tax reliefs, to induce private investment in the development of clean, low carbon technology, Government could simultaneously address need and opportunity and in so doing, help avert recession.
The performance and efficiency of the world's national oil companies - i.e. those still wholly under government ownership - could be increased very dramatically by privatising them, new research finds. The results of such performance improvements would be staggering, explains Dr Michael Pollitt, and could see global oil and gas production in the first year alone increase by 2.7 million barrels of oil equivalent per day - which is more than all of France's current oil and gas consumption.
Today's consumer driven culture is ecologically unsustainable; this fact poses a clear challenge to governments who must agree responses to climate change and other issues. But what role can business play? Jim Leape, Director General and Chief Executive of WWF International, explains how companies can help drive a shift to sustainability in their sectors and more broadly, the roles that NGOs can play in catalysing such a shift.
According to Professor Vicky Pryce, the current financial crisis is an opportunity to stimulate green business in all organisations, moving the world towards a low carbon economy and a sustainable recovery.
Sir Crispin Tickell believes that women and education hold the key to a future of sustainable global values.
Corporations and governments are having to face up to the new challenges of how to operate in a global business environment where the financial sector is broken and needs fixing, and protecting the environment is a major concern for all. "Sustainable competitiveness" is the new catch phrase as business leaders and government's embrace a different language. Phrases like "business ethics", "environmental protection" and "wealth distribution" are being talked about in board rooms and cabinets around the globe.The Centre for International Business and Management (CIBAM) at Judge Business School in Cambridge invited some of the leading thinkers in "Green Business and Green Values" to share their thoughts on how to meet these new business challenges in the 21st century. The conference was sponsored by BERR (Department for Business Enterprise and Regulatory Reform), and organised by Dr Christos Pitelis, the Director of CIBAM. Boni Sones reports.
Corporations and governments are having to face up to the new challenges of how to operate in a global business environment where the financial sector is broken and needs fixing, and protecting the environment is a major concern for all. "Sustainable competitiveness" is the new catch phrase as business leaders and government's embrace a different language. Phrases like "business ethics", "environmental protection" and "wealth distribution" are being talked about in board rooms and cabinets around the globe.The Centre for International Business and Management (CIBAM) at Judge Business School in Cambridge invited some of the leading thinkers in "Green Business and Green Values" to share their thoughts on how to meet these new business challenges in the 21st century. The conference was sponsored by BERR (Department for Business Enterprise and Regulatory Reform), and organised by Dr Christos Pitelis, the Director of CIBAM. Boni Sones reports.
Professor Peter Guthrie discusses some of the barriers to improving energy efficiency measures in the built environment. He explains that a staggering 75% of existing buildings in the UK were built before 1975 and that the vast majority of these will still be in use in 2050. The technologies to retro-fit these buildings and improve their energy efficiency already exists. What is needed, he argues, is a real-time change of behaviour. Working with the property group Grosvenor on these issues, he explains how he hopes their new research with help influence built environment policies.
Dr Chris Hope says the issues of deforestation and financial compensation to encourage developing countries to protect their forests must be addressed at the Copenhagen talks. He argues deforestation is costing the world tens of trillions of dollars in its impacts and although geo-engineering devices can be used to redress CO2 emissions, the cheaper option is to prevent the tropical forests from being destroyed in the first place.
According to Dr David Reiner new financial instruments to even out the impact of global warming between the third world and the developing world could help world leaders progress their attempts to reach agreement on climate change at the UN Road to Copenhagen talks. But he believes success is dependent upon getting both China and India to sign up.
We are entering a new era of renewable energy generation, says Dr Michael Pollitt, where interactive networks, smart electricity meters and energy saving devices on consumer lights and heaters will help tackle climate change. This increased 'smartness' and functionality will also lead to the generation of new and exciting business models and the rise of energy service companies, Dr Pollitt explains.
We must trace back to what local people are doing at grass roots levels says Ms Elsie Owusu.
(Ms Elsie Owusu, OBE, Partner in the architects Feilden and Mawson and founder member of the Society of Black Architects)
Dr Joel Ratsirarson says change is already happening in Madagascar as a result of scientific research. He thinks sharing knowledge is key.
(Dr Joel Ratsirarson, Associate Professor at the Forestry Department of the School for Agricultural Sciences, at the University of Antananarivo ( Madagascar ) and Assistant Dean of the School for Agricultural Sciences of the University of Antananarivo)
Extreme weather is affecting the lives of people in Ghana, Mr Juati thinks that by looking to the Western responses to climate change new applications for the scientific data can be found, and that appropriate solutions can be devised. He's an optimist.
(Mr Ayilari-Naa Awupeyagi Juati, Director in Charge of Synoptic Meteorology and Forecasting of the Ghana Met Agency)
Dr Bradwell Garanganga has over twenty years experience in climate monitoring, prediction and applications in the region. He says locally the seasons are changing. With good and reliable information he thinks local communities will adapt to climate variability and says policy making will become better informed and more responsive as a result.
(Dr Bradwell Garanganga, Drought Monitoring Centre in the South African Development Community)
Professor Hunt says there is a pressing need for different policies at different levels of decision making, the local, regional and national. He says changing patterns of behaviour at any level requires great self-confidence.
(Professor Hunt, Associate Fellow, Judge Business School's Cambridge Centre for Energy Studies, emeritus Professor of Climate Modelling in the Department of Space and Climate Physics and Earth Sciences and Honorary Professor of Mathematics at University College London)
Professor Charles Kennel thinks climate change is not wholly responsible for the problems Africa is facing and that population control and demography matter too. But he says the world cannot afford to see Africa experience these wide variations in climate and that what affects people there has consequences here too.
(Professor Charles Kennel, University of California San Diego, and founded the UCSD environment and Sustainability initiative. He is also a member of the Sustainability Solutions Institute)
Mrs Sherry Ayitey, believes the issue of water resources is one of basic "human rights". She says that in this inter-connected age the developed world needs to embrace the problems the developing world is facing.
(Mrs Sherry Ayitey The Honourable Minister for Environment, Science and Technology Government of Ghana)
It's the resource that we take most for granted when we have access to it, yet it is also the resource that challenges the world most in terms of wide variations in whether we have too much or too little of it. Water is a basic necessity of life, or as some are now saying a basic human rights issue, yet world leaders are only just getting to grips with the true magnitude of the crisis now facing the globe in terms of climate change and its variability on water resources. Africa, with its 53 countries and 1 billion people is the world's second-largest and most populated continent, and it is here that the vastly different impacts of climate change are now being felt from floods to droughts and famine. "The Global Water Initiative: Implications of Climate Change and Variability on African Water Resources", a three day conference co-ordinated by Judge Business School's Cambridge Centre for Energy Studies and held at Downing College, University of Cambridge, brought together academics from all over the World to openly debate these truly daunting questions of environmental sustainability in the face of climate change.
It's the resource that we take most for granted when we have access to it, yet it is also the resource that challenges the world most in terms of wide variations in whether we have too much or too little of it. Water is a basic necessity of life, or as some are now saying a basic human rights issue, yet world leaders are only just getting to grips with the true magnitude of the crisis now facing the globe in terms of climate change and its variability on water resources. Africa, with its 53 countries and 1 billion people is the world's second-largest and most populated continent, and it is here that the vastly different impacts of climate change are now being felt from floods to droughts and famine. "The Global Water Initiative: Implications of Climate Change and Variability on African Water Resources", a three day conference co-ordinated by Judge Business School's Cambridge Centre for Energy Studies and held at Downing College, University of Cambridge, brought together academics from all over the World to openly debate these truly daunting questions of environmental sustainability in the face of climate change.
Damian Miller, author of Selling Solar, explains why solar electricity will really help emerging markets.
Reducing the global footprint of the World is the mission of Mark Mitchell of Serious Materials.
The demand for the fossil fuel by-product helium may in fact increase as society tries to become increasingly low-carbon, Dr William Nuttall discusses the implications.