Opportunity in the energy transition: Richards

Large businesses are embracing the opportunity in the energy transition, according to Paul Richards, Head of Resources, Energy & Infrastructure at ANZ Institutional.

Speaking on podcast to the Queensland Energy Club’s Energy Talks series, Richards said corporations, including ANZ, are looking at how to make the most of the opportunities brought on by climate change, while managing risk.

“I think for a period of time, there'd been a lot of focus on the risk-management side of environmental sustainability and the impact climate change was having on our customers, in the resources, energy and infrastructure segment in particular,” he said.

“But over the last couple of years, we've started to appreciate the huge opportunity that comes with environmental sustainability and the energy transition.”

Also on the podcast were Mark Couchman, Director - ANZ Institutional, and host Dan Brown, Partner at law firm Ashurst. Click below to hear an edited version of the conversation.

Couchman said the energy transition showed the rapid rate of development across the energy sector in Australia.

“What I think so excites me is the sheer pace of change and the opportunity that brings,” he said.  

Richards said managing the energy transition was an opportunity for all participants in the market, and that banks like ANZ had a critical role to play.

“Environmental sustainability is really a global mega trend now,” he said. “It's something that not just banks, but corporates and all parts of the economy are facing into and thinking about how it is that they deal with.”

“And it's not just an NGO agenda these days, it's very much front of mind for investors, for shareholders, for regulators, for central banks, for government, for our customers and for our staff and the community at large.

“There’s a growing expectation from all of those stakeholders around the part banks have to play in supporting the energy transition and environmental sustainability more broadly.”