Non-executive Director Programme Session 5 | Energy transition strategies and climate reporting: The escalating challenge for Boards and NXDs

In 2024, corporate energy transition strategies and climate reporting continue to evolve in response to shifting market dynamics, regulatory developments, and stakeholder expectations.

A number of trends are shaping these areas including: acceleration of renewable energy adoption; enhanced climate reporting standards; investor pressure and ESG integration; technology and innovation; integration of climate risks into business strategies; Scope 3 Emissions disclosure and focus on social justice and equity.

Overall, these areas are becoming increasingly central to corporate sustainability efforts and are playing a crucial role in driving the transition to a low-carbon economy. Companies that proactively address these issues are not only better positioned to manage risks but also to capitalize on emerging opportunities in the transition to a more sustainable future.

But with a fast moving and changing landscape what can Boards and NXDs do to address this? There are essentially three key things that companies need to consider here:

• What is legislated and requiring compliance?
• What is the purpose of the organisation and what does the organisation want or need to do in order to be consistent with its values and stakeholders?
• How do organisations prepare for and mitigate for climate change in a practical and structured way?

This session, led by experts in this area, will guide NXDs on how to address these questions. In groups we will discuss case studies and issues that will help shape our knowledge and available possibilities for action.

Guest speakers' bios

Dr Valentina Kretzschmar

Valentina has over 25 years of experience in the energy sector. She is a senior expert, with a focus on corporate energy transition strategies and climate reporting.

She joined Wood Mackenzie’s Consulting team in June 2023 from Capricorn Energy, where she served as Energy Transition Director, responsible for the company’s climate change and energy transition strategy and reporting.

Before Capricorn, Valentina spent 18 years at Wood Mackenzie across Corporate, Upstream Russia and Caspian and Coal Research teams. As Vice President of Corporate Research, she led the development of Corporate New Energy Research.

She is an NXD on the Board of D2Zero, as well as an Advisory Board Member at CausewayGT – a geothermal company.

Valentina has a BEng Honours Degree in Engineering from the University of Edinburgh, MSc in Advanced Mechanical Engineering from Imperial College, London, a PhD in Clean Coal Technology from the University of Edinburgh and an MBA (Finance) from Durham University. Valentina is a Chartered Engineer (C.Eng. MIMechE) and holds a Non-Executive Director Diploma.

Amanda Young

Amanda was until very recently the Chief Sustainability Officer for the Investments business at abrdn plc, where she led the sustainable investment strategy for the firm and the Investment’s Business Sustainability Group.

She has over two decades of experience in responsible investment. Previously, Amanda held positions at Newton Investment Management, CCLA Investment Management and Rabobank International.

Amanda led a workstream for the UK Government’s task force on social impact investment and co-chaired the Scottish Purposeful Business Commission. She is a board director for Social Investment Scotland’s SIS Ventures fund and the Deputy Chair of the Sustainability and Responsible Investment Committee of the Investment Association.

She has appeared on the Financial News top 100 most influential Women in European Finance for 5 years. She was the inaugural winner of the Women in Investment Awards Sustainable & ESG Investment Woman of the Year in 2021, and was on Financial News’ inaugural Fifty Most Influential in Sustainable Finance list in 2022.

For more information on the Programme including the other sessions in the series, please visit the Non-executive Director Programme overview.