As we close out 2021 and set our sights on 2022, let’s look at two trends that have been at the center of conversation throughout the energy industry: digital transformation and environmental, social, and governance (ESG), specifically the “E” component. Because of increasing pressure from stakeholders and investors, more and more companies are creating sustainability strategies and are trying to incorporate them into their ESG business plans using modern technology.
In today’s world, investors and consumers are more frequently looking for cleaner energy sources to power their homes or businesses. This is driving industry leaders like Pioneer Natural Resources, ExxonMobil, and ConocoPhillips to develop products and services that are in line with the needs of the market to remain relevant and competitive. Therefore, you’re now seeing major players develop more comprehensive ESG strategies that include sub-components involving sustainable development, responsible “energy transition” policies, and environmental planning, to name a few, with other companies following suit.
Companies in all sectors, including energy, are incorporating advanced technologies to maximize their ESG strategies, drive long-term growth, performance, maximize shareholder value while managing and mitigating risk. The following are three technologies businesses are using to their advantage and why they may be keys to driving value in the “E” within ESG.
A new year breeds new and exciting opportunities and changes on the horizon. One important prediction that can be made with certainty is the importance of environmentalism, especially within the context of ESG, which will only increase in popularity with investors and consumers. Simultaneously, the push for digital transformation will continue throughout the industry adding value to operations and business analysis. More and more companies are moving towards a new age of energy, specifically a more sustainable energy, that will be developed by advanced technology and ultimately bring a “green” return on investment.
Mark Valdez is a Consultant in Opportune LLP’s Process & Technology group based in Houston. Before joining Opportune, Mark worked for the United States Marine Corps as a Data Systems Administrator and was a Scheduling and Operations Intern for The Personal Office of Barack and Michelle Obama. Mark graduated from Texas A&M University with a B.S. in Business Management Information Systems and a minor in Cybersecurity.
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