The urgency to confront the impacts of climate change was made clearer last week to companies and governments—and to AEC firms that seek their business and face similar pressure—in a triple whammy of global events. Those include a global court ordering one oil giant to reduce CO2 emissions, a high-profile boardroom win by carbon-neutrality investor advocates of another, and a new President Biden order that raises the bar for corporate and federal disclosure of climate-linked financial risk.
At an AEC financial conference in May sponsored by sector management consulting firm EFCG, engineering company Wood's CFO Grant Angus noted elevated momentum in clients seeking guidance and advice on projects that will ultimately support the energy transition. But he said one challenge in environment, social and governance (ESG) advisory services is “the long-term nature of sustainable development goals and carbon net-zero targets.”