Energy Crisis Part 2 - Decarbonising industry through the energy crisis - finding the opportunities

12/01/22 • 31 min

Jerome Lucaes joins Alex Cameron to talk about the impact of the European energy crisis on industrial co2 strategies. Jerome brings plenty of experience from both RUSAL and Rio Tinto and critical industries on the creation of high-value net zero strategies.

Jerome Lucaes is the former Head of Marketing and Sustainability for RUSAL and now leads FFZero which advises industrials on net zero strategy and execution. He joins Alex Cameron, Founder of Decarb Connect, as part of the podcasts miniseries on the energy crisis.

Listen in to gain Jerome’s perspective on how the crisis presents opportunity as well as challenge, specifically the opportunity to accelerate decarbonisation as long as the right incentives remain in play. The conversation explores examples of shifts that industrials in sectors from copper, steel, glass and ferts are making - from energy efficiency programs through to a widening energy mix. You’ll also get some insight on how the current environment impacts the plans for hydrogen in industry.

Jerome’s an advocate for using the crisis as an accelerator to move away from fossil fuels (not simply turning from gas to other, dirtier fuels) and also talks about the way industrial leaders can balance the short term crunch with long term goals for net zero.

With so much to consider, the conversation also takes a look at the role of investors as well as industry and government during this time of upheaval. Finally, we talk about how to plan for change while so much is going on at a macro level.

Jerome’s expertise comes from years in sustainability leadership roles at RUSAL and Rio Tinto. If you have similar or aligned decarbonisation experience and would like to talk about any issue relating to industrial decarbonisation, get in touch. We welcome stories, experiences and different voices from around the world.

Show links:

Learn more about Jerome Lucaes, his work and how to connect to him

Click here to find out more about Decarb Connect and our founder Alex Cameron

Join our Decarbonisation Leaders Network to get insights from across the energy-intensive landscape

Choose this link to stay updated on Decarb Connect’s podcast, summits, reports and webinars: join the Decarb Connect Newsletter

Listen to more Decarb Connect podcast episodes

Follow Decarb Connect on LinkedIn

Decarb Connect supports the acceleration of industrial decarbonization around the globe. We share insights and facilitate collaborations across the emerging decarbonization ecosystem. We look specifically at the most energy-intensive industrials from cement, metals and mining, glass, ceramics, chemicals, O&G and many more and help connect them to technology disruptors, investors and advisors.

Through the Decarbonisation Leaders Network (DLN), our members (a cross-sector network of those leading decarbonisation in energy-intensive industries) share insights and experiences as they accelerate their Net Zero plans. Check out Decarb Connect’s offerings and learn about the Decarbonisation Leaders Network members, meetups and benefits.

If you enjoyed this conversation, take a look at many more conversations and discussions about industrial decarbonisation taking place across Decarb Connect’s global event series.

Many thanks to Janno Media for their support, and specifically Sassy our Editor, for expertise and support through the production of our series.

Show links:

Learn more about Jerome Lucaes, his work and how to connect to him

Click here to find out more about Decarb Connect and our founder Alex Cameron

Join our Decarbonisation Leaders Network to get insights from across the energy-intensive landscape

Choose this link to stay updated on Decarb Connect’s podcast, summits, reports and webinars: join the Decarb Connect Newsletter

Listen to more Decarb Connect podcast episodes

Follow Decarb Connect on LinkedIn

If you enjoyed this conversation, take a look at many more conversations and discussions about industrial decarbonisation taking place across Decarb Connect’s global event series.

Many thanks to Janno Media for their support, and specifically Sassy our Editor, for expertise and support through the production of our series.

Previous Episode

Reducing steel’s co2 by 95% - the H2 Green Steel experience

Steel is responsible for 8% of global co2 each year, and contributes as much as 40% of all industrial co2. Listen in to hear Kajsa Ryttberg-Wallgren’s insights into the at-scale green steel project she’s tasked with and the potential for transforming the global steel value chain.

With every ton of steel emitting (on average) 1.85 tons of co2, the industry contributes around 8% of co2 globally. It’s also one of our most essential materials used across all developed and developing nations for infrastructure and construction projects and is inextricably linked to economic growth.

Listen to Alex’s conversation with Kajsa Ryttberg-Wallgren, EVP of the Hydrogen Business Unit at H2 Green Steel. Taking “the world doesn’t need another pilot” as a starting point, the conversation explores the company’s at-scale first project in Sweden and its emerging international portfolio, all of which focuses on reducing emissions from steel by 95% and will be producing 5m tonnes of green steel a year by 2030.

Other takeaways include exploring the reality of creating a green steel project when you have no legacy business, the need to fight for the best talent and where they’ve found it, along with thoughts on selecting and collaborating with the right partners for your model. You’ll also get the opportunity to hear from Kajsa on disrupting the future global steel supply chain.

The acceleration of their plans has been made possible by the support H2 Green Steel it has received from leading financial institutions for its €3.5 billion debt financing, just confirmed in October 2022. Construction of its green steel plant will be enabled by a combination of equity and debt financing from organisations including AB Svensk Exportkredit (SEK), BNP Paribas, ING, UniCredit, Societe Generale and KfW IPEX-Bank. More institutions are finalising their involvement, including the European Investment Bank.

Learn more about H2 Green Steel
Read about the Boden project and recent financing round
Find out more about Decarb Connect and our founder Alex Cameron
To stay updated on Decarb Connect’s podcast, summits, reports and webinars, join the Decarb Connect Newsletter
Listen to more Decarb Connect podcast episodes
Follow Decarb Connect on LinkedIn

If you enjoyed this conversation, take a look at many more conversations and discussions about industrial decarbonisation taking place across Decarb Connect’s global event series.

Many thanks to Janno Media for their support and expertise in the edit and production of our series.

Next Episode

Energy Crisis Part 3 - Craig Golinowski talks Underinvestment, the Energy Crisis and Policy Durability

40bn tonnes a year of GHGs is a massive issue that people on all sides of the political spectrum are committed to tackling. But are our international policies up to the task? Can we get around the historic lack of investment in energy that has both created a reliance on key products/markets and is now effectively pushing some countries to spend even more on fossil fuels? And is it realistic to make the big switch to renewables or do we have to rethink and re-engage with existing fuel mixes?

Craig joined the podcast earlier in the year and talked about the Carbon Paradox, which at the time theorised that underinvestment in energy, too much focus on renewables and future shortages of nat gas would simply lead to more use of dirtier fuels. A few months on, now with a War in Ukraine to contend with, and we are seeing just that – more reliance (not less) on fossil fuels.

So what’s the answer? Join us to get Craig’s assessment of the decarbonisation landscape and to hear his perspective on gas and nuclear as an essential part of any sustainable energy mix. Alex and Craig discuss the need for durable policy, and dig into Craigs assessment that more, not less, development of gas is needed.

We also explore the emerging role of the US as the single largest “buyer of co2” with the updated $85 per tonne price point – does this not only jumpstart US decarbonisation but also help them leapfrog other nations and regions, perhaps drawing in investment from those markets?

Learn more about Craig Golinowski

Learn more about Carbon Infrastructure Partners, a private equity fund manager focused on investing in carbon capture projects to meaningfully reduce emissions

Find out more about Decarb Connect and our founder Alex Cameron

To stay updated on Decarb Connect’s podcast, summits, reports and webinars, join the Decarb Connect Newsletter

Listen to more Decarb Connect podcast episodes

Follow Decarb Connect on LinkedIn

We are always looking for different voices and perspectives on the energy transition – get in touch If you’d like to take part.

If you enjoyed this conversation, take a look at many more conversations and discussions about industrial decarbonisation taking place across Decarb Connect’s global event series.

Many thanks to Janno Media for their support and expertise in the edit and production of our series.