Episode 9: US Energy Shifts, Corporate Sustainability, and Climate Economics with Lord Nicholas Stern (LSE Prof. & GRI Chair) and Lubomila Jordanova (Plan A CEO & Co-founder)

In Episode 9 of The Smart Society Show, co-hosts Brynne Kennedy and Rt Hon Chris Skidmore are joined by Professor Lord Nicholas Stern, IG Patel Professor of Economics and Government at the London School of Economics, and Lubomila Jordanova, co-founder and CEO of Plan A. Together, they discuss the economic imperatives and corporate strategies driving the global energy transition and climate action.

What’s News: U.S. Energy Shifts and Policy Impacts

In this episode’s What’s News segment, Brynne and Chris unpack the changing dynamics of U.S. energy policy as the country transitions to a new administration. They reflect on the outgoing administration’s final climate actions, including restrictions on offshore drilling and the introduction of the 45B hydrogen tax credit to incentivize green energy. The discussion also highlights the growing demand for energy from AI and data centers and the implications for both renewable and traditional energy sources. Chris and Brynne emphasize the importance of balancing energy abundance with a continued focus on emissions reductions to ensure a sustainable future.

Chasing Net-Zero: Professor Lord Nicholas Stern on Climate Economics

Professor Lord Nicholas Stern reflects on the enduring impact of the Stern Review, which framed climate change as "the greatest market failure the world has ever seen" and argued that the cost of inaction far outweighs the cost of action. Nearly two decades later, Stern highlights significant progress, such as the dramatic fall in renewable energy costs and the rise of EVs, which have reached cost parity with traditional technologies in many markets. However, he also underscores the challenges ahead, including the slow pace of global action and the urgent need for large-scale investments to support a just and equitable transition.

Stern emphasizes the role of multilateral development banks in providing low-cost financing to developing nations and facilitating global collaboration. He also discusses the shifting industrial geography driven by clean energy, where regions with access to abundant clean electricity will lead future economic growth. His insights reinforce the idea that climate action is not only an environmental necessity but also a historic economic opportunity.

Chasing Unicorns: Lubomila Jordanova on Corporate Sustainability

Lubomila Jordanova, co-founder and CEO of Plan A, discusses how corporate sustainability is becoming a cornerstone of the energy transition. She highlights Plan A’s work in helping companies like BMW and Deutsche Bank align their decarbonization strategies with profitability through advanced software solutions. Plan A’s platform enables businesses to measure, manage, and reduce their environmental impact, providing actionable insights to drive sustainability goals.

Jordanova emphasizes the importance of integrating sustainability into core business strategies rather than treating it as a side initiative. She also discusses Plan A’s partnerships with major financial institutions to support climate financing and unlock new opportunities for scaling decarbonization efforts. Her work demonstrates how innovation and technology can empower companies to take meaningful action while maintaining a competitive edge.

Final Thoughts

Episode 8 highlights the critical role of economics and corporate leadership in tackling the climate crisis. From Lord Nicholas Stern’s call for systemic investment and policy innovation to Lubomila Jordanova’s practical solutions for corporate sustainability, this episode showcases the multifaceted approach needed to drive the energy transition.

‍

🎧 Listen now to explore the economic opportunities and strategies shaping the future of climate action!

‍