Cleaning Up: Leadership in an Age of Climate Change

At the beginning of 2022, Europe was sourcing around 40% of its gas from Russia. By the end of this year, no more gas should be flowing from Russia into Europe. 

Much of that shortfall has been replaced by production from the vast oil and gas fields of Norway's North Sea continental shelf. And this year, the closure of the Strait of Hormuz again highlighted the importance of Norway to Europe's resilience. But how does one of the world's largest oil and gas producers balance energy security with the race to net zero?

This week, Michael Liebreich is joined by Anders Opedal, CEO of Equinor, Norway's state-backed energy company. Having spent almost three decades at the company, Anders discusses Equinor's strategy for producing lower-emissions oil and gas while investing heavily in offshore wind, carbon capture and storage, and the technologies needed for the energy transition. 

They also explore the impact of fugitive methane emissions, the realities of carbon capture, the economics of offshore wind, and why Norway believes it can continue supplying oil and gas for decades to come.

Topics covered:

How Russia disrupted European gas supplies

Meeting Europe's gas demand

The Strait of Hormuz and energy prices

Tax, financing and investment

Equinor's partnership with Shell

Carbon capture and storage (CCS)

Can the UK replicate Norway's success? 

Offshore wind development

Reducing methane emissions and gas flaring

Leadership Circle:

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, Ecopragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links: 

Anders Opedal’s LinkedIn: https://www.linkedin.com/in/andersopedalequinor/

Equinor: https://www.equinor.com/

Northern Lights project: https://www.equinor.com/energy/northern-lights

Sign up to our newsletter: cleaninguppod.substack.com

Amber Rudd on Cleaning Up: https://www.youtube.com/watch?v=MZOokwqLaRc

Ben van Beurden on Cleaning Up: https://www.youtube.com/watch?v=jImWveH7Xn0

Michael Lewis on Cleaning Up: https://www.youtube.com/watch?v=DOD-f6uSPgc

Acronyms:

TTF: Title Transfer Facility 

BTU: British Thermal Units

FID: Final Investment Decision

CCS: Carbon Capture and Storage

OGCI: Oil and Gas Climate Initiative

OGDC: Oil and Gas Decarbonisation Charter

Victoria is undertaking one of Australia's most ambitious electricity transitions. The state is aiming for 65% renewable electricity by 2030 and 95% by 2035, replacing ageing coal-fired power stations with renewable electricity, batteries and offshore wind while keeping the lights on and consumers' bills down.

This week on Cleaning Up’s Deep Dive Australia, Michael Liebreich is joined by Lily D'Ambrosio, Victoria's Minister for Climate Action, Energy and the State Electricity Commission, who has overseen the state's energy transition for more than a decade.

Together Minister D’Ambrosio and Michael examine the policies driving the transition, from renewable energy auctions and large-scale batteries, to offshore wind and transmission planning. Michael also challenges the Minister on some of the most controversial aspects of Victoria's strategy, including unpublished modelling, coal closure agreements, and the politics of moving households away from gas.

Topics:

Victoria's energy transition and the role of state governments

Replacing coal with renewables

Batteries, electricity markets and falling wholesale prices

Coal plant closures and investor certainty

Transparency, modelling and political accountability

Transmission, community opposition and Renewable Energy Zones

Offshore wind and the future generation mix

Gas, household electrification and cost of living

Leadership, public confidence and delivering the transition

Leadership Circle:

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, Ecopragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links:

Lily D’Ambrosio’s bio: https://www.victorianchamber.com.au/profile/lily-dambrosio

Sign up to our newsletter: https://cleaninguppod.substack.com

EnergyAustralia: https://www.energyaustralia.com.au/

AGL: https://www.agl.com.au/ 

VicGrid: https://www.vicgrid.com.au/

Western Renewable Link: https://www.westernrenewableslink.com.au/

Offshore wind: https://www.energy.vic.gov.au/renewable-energy/offshore-wind-energy/offshore-wind-energy-victoria

Gas substitution roadmap: https://www.energy.vic.gov.au/renewable-energy/victorias-gas-substitution-roadmap

Open Electricity: https://openelectricity.org.au/

Acronyms:

CSIRO: Commonwealth Science and Industrial Research Organisation

China transformed solar from one of the world's most expensive energy technologies into the cheapest source of electricity in just a couple of decades. And now it’s doing the same with batteries, with prices plummeting around the world.

This week on Cleaning Up, Bryony Worthington is joined by Alex Shoer, Managing Director of GridVest, who spent almost a decade building renewable energy businesses in China before bringing those lessons back to the United States.

They discuss the lessons behind China's clean energy success, the evolution of solar subsidies, and why battery storage is becoming essential for everything from renewable energy to AI data centres. They explore whether collaboration rather than competition will shape the next phase of the global energy transition, and in which technologies the U.S. still holds a competitive advantage.

Topics covered:

China's blueprint for scaling clean energy

The impact of ending solar subsidies

Why batteries are becoming more valuable than solar alone

Can AI and data centres accelerate the battery boom?

Ford, CATL and the future of global partnerships

Competing vs partnering with China

Financing the next generation of energy infrastructure

The future of battery tech and U.S. innovation

Leadership Circle

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, Ecopragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links

Alex Shoer’s bio: Alex Shoer

Sign up to our newsletter: cleaninguppod.substack.com

GridVest: https://gridvest.com/

Seeder Clean Energy: https://seederenergy.com/  

Acronyms

RE100: Renewable Energy 100% Commitment

PPA: Power Purchase Agreement

S-REC: Solar Renewable Energy Credits

I-REC: International Renewable Energy Certificate

IRR: Internal Rate of Return

ITC: Investment Tax Credit

FEOC: Foreign Entity Of Concern

CPUC: California Public Utility Commission

NMC: Nickel Manganese Cobalt

LFP: Lithium Iron Phosphate

AHJ: Authorities Having Jurisdiction

Australia's electricity networks are entering a new era. As rooftop solar, battery storage and electric vehicles demand reshape the grid, the role of distribution networks is changing from simply delivering electricity to actively enabling a smarter, more resilient and affordable energy system. 

For the third episode of our Deep Dive Australia series, Michael sits down with Marc England, CEO of Ausgrid, one of Australia's largest electricity distribution businesses, to explore what that transformation looks like in practice. Ausgrid is responsible for supplying electricity to millions of customers across Sydney, the Central Coast and the Hunter Region in New South Wales.

Marc reflects on how networks have to become intelligent, flexible and community-focused while balancing commercial realities with public service. He shares how distribution companies like his are adapting to an increasingly decentralised electricity system, where balancing reliability, affordability and customer expectations has never been more complex. From the growing role of battery storage and managing unpredictable energy flows, to supporting the rapid rise of data centres and preparing for extreme weather events, he explains why networks will play a critical role in delivering a successful net zero future. 

Also, Michael travels inside the electricity tunnels beneath Sydney, to see how Ausgrid has built a resilient electricity system for Australia’s financial capital.

Topics Include:

The evolving role of electricity distribution networks

Balancing commercial success with community responsibility

Battery storage and building a more flexible grid

Managing the rise of rooftop solar and distributed energy resources

Preparing for growing electricity demand and data centres

Building resilience for extreme weather and changing energy patterns

Leading innovation through Australia's energy transition

Leadership Circle:

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, Ecopragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links:

Watch our full Deep Dive Australia Series: https://youtube.com/playlist?list=PLc8cNKXCII70&si=GmXz-zQe3yK42V3o

Sign up to our newsletter: cleaninguppod.substack.com

Marc England’s bio: https://www.linkedin.com/in/marc-england-9147711/

Ausgrid: https://www.ausgrid.com.au/

Transgrid:  https://www.transgrid.com.au/

PLUS ES: https://www.pluses.com.au/

John Pettigrew on Cleaning Up: https://www.youtube.com/watch?v=S7Lg1A958aA

Tim Meyerjürgens on Cleaning Up: https://www.youtube.com/watch?v=PQgUuJ-dx78

Acronyms:

SES - State Emergency Service

CBD - Central Business District

DNSP - Distribution Network Service Provider

C&I - Commercial & Industrial

AEMO - the Australian Energy Market Operator

CIS - Capacity Investment Scheme

South and Southeast Asia face a different challenge to many developed economies. As the regions continue to grow, so too does demand for energy, transport and industry. The question is whether that growth can be powered by cleaner technologies from the start.

In the second of our episodes recorded from Singapore, Michael meets Marie Cheong, founding partner at 100x100, a climate tech venture builder and VC for South and Southeast Asia. Previously, Marie co-founded WaveMaker Impact, where she helped launch climate startups addressing some of the region's biggest opportunities for decarbonisation.

Marie explains why climate innovation in emerging South Asian markets requires a different approach. They discuss investing across the region, growing energy demand, using AI to decarbonise manufacturing, and why there are no "silver bullet" solutions to climate change.

Marie also takes Michael to the People Bee Hoon noodle factory, which makes rice vermicelli noodles to see how Desmond Goh, the factory’s director is using AI to improve his operations. Michael meets to Desmond and Muun AI founder Kathryn Knight about how better use of data can help cut emissions and waste.

And at the end of the episode, a very special announcement… stay tuned.

Topics Include

Building climate startups across South and Southeast Asia

Why climate investing needs more than "silver bullet" technologies

The biggest opportunities for climate innovation in emerging Asian markets

Solving regional pain points as the key to success

Can Southeast Asia grow without burning more coal?

Investing in emerging markets and navigating regional diversity

How AI can help manufacturers cut emissions, costs and energy use

The next generation of climate technology in Asia

Leadership Circle

Cleaning Up is proud to be supported by its Leadership Circle. The members are Actis, Alcazar Energy, Arup, Copenhagen Infrastructure Partners, Cygnum Capital, Davidson Kempner, Ecopragma Capital, EDP, Eurelectric, the Gilardini Foundation, KKR, Mitsubishi Heavy Industries, National Grid, Octopus Energy, Quadrature Climate Foundation, Schneider Electric, SDCL and Wärtsilä. For more information about the Leadership Circle, visit cleaningup.live

Links

Marie Cheong's bio: https://www.linkedin.com/in/marie-cheong-06141b36/

Wavemaker Impact https://wavemakerpartners.com/

100x100 https://www.100x100.com/

Muun AI https://muun-ai.com/

Watch our previous episode from Singapore, with Ravi Menon: https://www.youtube.com/watch?v=Xvhd34i6YMk

Harish Hande on Cleaning Up https://www.youtube.com/watch?v=jUxdaHFJI68

South Asia Includes: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan,and Sri Lanka.

South East Asia Includes:  Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Acronyms

FESIA - Future Energy Storage and System Integration Alliance

ASEAN - Alliance for Southeast Asian Nations

CPTPP -  Comprehensive and Progressive agreement for Trans-Pacific Partnership

MT - Megatonne

SAF - Sustainable Aviation Fuel

SME - Small/Medium-sized Enterprises