“Align everything - incentives, market economics, regulation, politics - toward achieving net zero”
Next up in our series featuring professionals in sustainability is Gregorio Giorgi, VP of Group Climate Strategy at Barclays. He offers insights into the resources and concepts that have shaped his career in sustainability.
- What is one book that has helped you in your career that you recommend to others?
Thinking, Fast and Slow by Daniel Kaneman. A classic, really relevant to anyone - including sustainability professionals. This book is full of theories, concepts and notions applicable to everyday situations, and is a sobering realisation of how biased and irrational our decision making can be - including our collective response (or lack thereof) to climate change.
2. What is one concept that has most helped you in your career/role & why?
It is difficult to choose only one... I'd say a few:
Market externalities and failures are key concepts to understand the root cause of climate change - and why markets alone (without an enabling policy environment) will not be able to fix it.
As sustainability is increasingly intertwined with corporate development, marginal abatement cost curves can help place a $ value and reduction potential on available decarbonisation levers; while the notion of stranded assets brings home the link between climate risk and financial risk.
The Dunning-Kruger effect (not related to sustainability) has been a great reminder to stay humble, not to overestimate what you know and to keep learning!
3. What is one podcast or newsletter that you subscribe to, and love?
‘The Energy Gang’ and ‘Zero: The Climate Race’ (podcasts)
Carbon Brief and Bloomberg Green (newsletters)
4. What is one jargon/acronym that you think is important to understand for your career/role & why?
Real economy decarbonisation - actions by financial institutions should lead to an impact (in terms of emissions reductions) in 'real' activities of the economy.
5. What is one person or organisation that you follow that inspires you in your career/role & why?
Fatih Birol - executive director of the International Energy Agency (IEA), one of the most influential organisations shaping the global dialogue on the energy transition.
6. What skills do you think is/are most important for your career/role & why?
Understanding of basic macro/micro economics concepts (a lot of it comes down to supply and demand at the end of the day).
Understanding of financial sector landscape (asset owners, managers, banks etc) and banking products across lending and capital markets.
Understanding of GHG accounting (scopes 1, 2, 3) and of key decarbonisation technologies and pathways for carbon intensive sectors (eg energy, power, autos, aviation, food/agriculture, etc).
Soft skills are actually quite important given that driving the climate agenda is now really about advocating for change and managing stakeholders (the evidence and case for it is clear).
7. If you could make one change in the world that would help your sector what would it be?
Take your first steps into a sustainability career with Sustainability Foundations Course. Check out open cohorts on our website.
Links to Gregorio’s recommendations:
Thinking, Fast and Slow - https://www.goodreads.com/book/show/11468377-thinking-fast-and-slow
The Energy Gang - https://www.woodmac.com/podcasts/the-energy-gang/
Zero: The Climate Race - https://www.bloomberg.com/green-zero-emissions-podcast (you can use another link if you want)
Responsible Investor - https://www.responsible-investor.com/
Bloomberg Green - https://www.bloomberg.com/green
Dr Faith Birol (IEA) - https://www.iea.org/contributors/dr-fatih-birol
