Repurposing for the just transition: energy companies need to future-proof their structure and strategy

Abstract

Abstract In order to achieve a just transition to a low-carbon economy, there is a need for large-scale and far-reaching organizational reform. In particular, this needs to happen with multi-national and state-owned energy companies. These firms play a key role in societies worldwide today, however, they are ignoring or neglecting their role in the energy transition and the wider movement towards achieving a low-carbon economy in a ‘just’ way. These companies are transitioning far too slowly and the rhetoric they advance is now outdated given the current market and societal dynamics. Early indications are that Governments and the public remain willing to assist in financing the transitioning of these companies. However, this support will have a time limit. This short brief focuses on the need for these companies to ‘repurpose’ themselves, to obtain requisite data for their decision-making and begin future-proofing their strategies which includes themselves individually also.