In my recent speech at "Italia 2024: People, Work, Business" our event series with GEDI (Gruppo Editoriale), we discussed innovative strategies and challenges in integrating sustainability into corporate DNA to meet Green Deal objectives.
Leading energy companies have acted as "early movers". They see sustainability challenges as opportunities to rethink their value chain and market.
They have integrated sustainability into their corporate DNA, seeing the Green Deal as an imperative to reinvent their business and create value in a changing economy. They incorporate regulatory factors into core decisions to find new ways to create value in a changing economy.
Energy transition and the Green Deal
Energy companies are revising their investment strategies to meet Green Deal goals, aiming for a 55% emission reduction by 2030. In Italy, this means a new investment mix, phasing out coal, and increasing investments in renewables like solar and wind, as well as biomethane and energy storage.
The National Integrated Energy and Climate Plan (PNIEC) sets ambitious 2030 targets, including a 50 GW increase in solar and 30 GW in wind capacity from 2023 levels. Sustainability is now a global industrial policy direction. Investing in decarbonization, focusing on electrification, energy efficiency, and resource efficiency is shaping industrial policies, with varying intensities and priorities across sectors and geographies.
This includes the European Green Deal, the U.S. Inflation Reduction Act, Japan's Green Growth Strategy, and China's 14th Five-Year Plan.
The challenge for energy leaders today is to evolve from sustainable companies to regenerative companies, investing to expand their socio-economic footprint and reinventing processes and supply chains.
Gianpaolo Chimenti | Energy, Utilities & Resources Leader | PwC ItalyA transformative future: new challenges for top players
The future of sustainability is the main challenge for early movers. Leading energy companies, who first embraced the Green Wave, now see decarbonization as a transformative process. Their challenge is to evolve from being successful sustainable companies to regenerative ones.
They need to invest in expanding their socio-economic footprint by reinventing processes and supply chains. This means actively contributing to the health of people, places, and communities where they operate, giving back more to society than they take.
For more information on how we can support your company in the energy, utilities & resources sector, visit our dedicated page. We offer advanced strategic, financial, and technological consulting services, along with assurance, tax, and legal support.