NEW YORK, Oct. 26, 2020 /PRNewswire/ -- S&P Global Platts has announced by video the finalists for "Leadership in Energy Transition", one of nearly two dozen awards of the 22nd annual S&P Global Platts Global Energy Awards to be presented December 10th in a live-stream, virtual gala celebration. Emceeing what are often described as the "Oscars of Energy," will be Emmy and Tony awards winner, actor and comedian Jason Alexander (Cinema's Pretty Woman, Broadway's Fish in the Dark, Television's Seinfeld).
"Some ten finalists have been shortlisted for the Leadership in Energy Transition Award, now in its third year and which aims to recognize a power generating company that is at the forefront of efforts to transition away from high greenhouse-gas-emitting sources of energy," said Richard Mattison, chief executive officer of Trucost, part of S&P Global.
It is Trucost, a leader in carbon and environmental risk analysis, which developed a data-led methodology to select the finalists and, ultimately, the winner, of this important environmental, social and governance (ESG) award (see details). This makes the Leadership in Energy Transition award distinct from the other 20 honors of the Global Energy Awards, which are determined by the votes of an independent panel of judges.
The S&P Global Platts/Trucost award criteria encompass the following:
taking steps to report and reduce greenhouse gas (GHG) impacts
publishing robust targets to improve performance
aligning with global energy transition commitments
demonstrating true leadership in innovative ways
The COVID-19 pandemic is one of the most severe economic and energy shocks in modern history. On top of the massive disruptions to business, mobility, and everyday life, there will be longer-lasting implications for the energy transition away from fossil fuels.
As Mattison notes in the video, the global power sector is touted to be largest contributor to greenhouse gas emissions globally, responsible for approximately one-quarter of global emissions.
"As the largest emitter, the power industry has the opportunity to be at the forefront of efforts to reduce emissions and to limit climate change to between 1.5°C and 2°C of global warming, the goal of the Paris Agreement set in December 2015," emphasized Mattison. "That's why Trucost is proud to participate in the S&P Global Platts Global Energy Awards, that recognize exemplary achievement in not only energy transition, but also in innovation, efficiency, green infrastructure and leadership, all especially noteworthy in these challenging times of the Covid-19 pandemic."
More than 10 times the emission reductions resulting from COVID-19 will be needed to meet the 2 degree target through 2050, according to joint analysis of S&P Global Platts and S&P Global Ratings. However, the pandemic's effects will cumulatively lower energy sector CO2 combustion emissions by 27.5 gigatons over 2020-2050—equivalent to almost one full-year of emissions.
"We're pleased to be partnering with Trucost, with its deep experience assessing risks relating not only to climate change, but natural resource constraints, and broader environmental, social, and governance factors, on this important ESG leadership Award," said Murray Fisher, producer of the Global Energy Awards program. "And in the history of the Award, we're pleased to see the continually increasing number of nominations and entries that are specifically focused on achievements in creating and consuming energy more responsibly – be it reduced emissions and sustainable energy or environmental and operational safety."
The 2020 finalists for the Leadership in Energy Transition Award are:
Energias de Portugal
Scottish & Southern Energy
Last year's winner of the Leadership in Energy Transition honors was Iberdrola of Spain, recognized for having one of the lowest emissions intensities of the diversified power industry, for its demonstrated innovation in green financing, and its science-based targets for short- and long-term greenhouse gas emissions reductions.
Energy, financial and business executives are invited to attend the virtual S&P Global Platts Global Energy Awards; registration will open soon. Accredited media may attend as guests of S&P Global Platts with advance registration through the media contacts listed below.
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