Introduction
This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.
It is now widely recognized in business, media, government and civil society that companies should aim beyond short-term profit towards a broader goal of long-term sustainable value creation. Given its scale and scope of operation, these expectations strongly apply to the energy industry.
The risk of failing to align business with societal expectations is well-illustrated through many environmental, social and governance scandals in the energy industry. The purpose of sustainability engagement, however, is not only to reduce risk; when appropriately deployed, governance for sustainability provides opportunities to improve day-to-day business, develop a competitive advantage, and strengthen reputation and brand.
Furthermore, the challenges provoked by the massive human influence on the biosphere compels the energy industry in the 21st century to set the question of ecological balances centre stage. This implies no less than staging an industrial transition from an extractive fossil-driven and massive resource consuming economy to a circular economy and renewable eco-modernity, which also necessarily entails societal transformation. This daunting task, demands massive mobilization of both the public and private economies, as well as strong civic buy-in.
This course exposes the students to the challenges inherent in the governance of the necessary transformation, both on a global, regional, national, and company level.