Angie Gildea, KPMG’s new U.S. head of energy, admits she questioned whether the growing focus on ESG by the oil and gas industry would continue or take a backseat during the pandemic given the difficult environment.
“From what we’ve seen, that focus has actually increased,” Gildea said, “particularly, the social component of ESG.”
In this video interview, Gildea, who was named national sector leader for KPMG’s energy, natural resources and chemicals practice on Jan. 12, sat down with Hart Energy’s Jessica Morales to discuss her outlook from a strategic standpoint on pressing issues facing the oil and gas industry in 2021 including the energy transition, digital technologies and the incoming Biden administration.
Continuing the ESG discussion, she said oil and gas companies will need a good strategy and story to their investors around ESG going forward.
“That includes a couple of things,” she said. “I think it’s optimizing their portfolios. Companies have capital constraints looking forward so they’re going to have to take a hard look at their portfolios and potentially shed those noncore assets. I think it’s looking at their existing operations. There’s a lot of opportunities to decarbonize and move those operations to a lower carbon footprint and some really easy things that you can do there.”
“And then obviously with the Biden administration coming in and the Democrats now controlling the House and Senate,” she continued, “down the road, I think we will see some implications as it relates to the tax component.”
During the interview, Gildea also discussed emerging technologies around alternative energy and IT perspectives plus how she’s excited to see what the industry’s next-generation brings to this post-pandemic energy transition.
Jump to a topic:
- Gildea’s new role (0:25)
- Energy transition/ESG (1:29)
- Impact of the Biden administration (3)
- Saudia Arabia’s oil cuts (4:37)
- Outlook of $50 oil (5:48)
- Emerging technologies (6:55)
- Next-generation of talent (8:35)
- The industry’s path forward (10:23)
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