Navigating Our World Brown Advisory

About 10% of the world’s population lacks access to reliable energy. A third of the world lacks access to clean cooking fuels—a major health risk. At some point, renewable energy sources will likely fill these gaps—but until then, Steve Riney, President and CFO of Apache, argues, the focus needs to be on empowering people to connect to the global economy and on providing more of every form of energy.
As always, we want to listen to and learn from varied perspectives as part of the shift to a lower carbon economy. In this episode, Erika Pagel sits down with Steve to talk about why he thinks in terms of energy expansion rather than energy transition. They unpack his experiences and points of view, from his leadership position in an “unapologetic” oil and gas company. Steve and Erika cover changes in the energy industry, conventional vs. unconventional production, energy poverty, sustainability, and “doing the right thing” in a politicized environment.
---The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.

Lithium is the lightest metal, so soft that you can cut it with a knife. Its structure gives it the ability to store large amounts of energy, making it ideal for manufacturing batteries. As the world moves to create a lower-carbon economy, the energy transition may well hinge on lithium.
To learn more about lithium and its role in electrification and the shift to renewable energy sources, Brown Advisory's Erika Pagel sits down with Eric Norris, President of Energy Storage at Albemarle—the largest producer of lithium in the world.
---The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.

Nuclear power has had a controversial history. Today, however, it is often considered an essential energy source for a lower carbon future. In a continuation of our NOW series on the energy transition, Erika Pagel sits down with Joe Dominguez, CEO of Constellation, the leading operator of nuclear power plants in the US. Joe and Erika discuss progress in shifting to a lower carbon economy, where nuclear fits in, promising innovations, and what it will take to get to net zero by 2050. 
---The views and opinions expressed in this podcast are those of the speaker(s) and do not necessarily reflect those of Brown Advisory. These views are not intended to be and should not be relied upon as investment advice and are not intended to be a forecast of future events or a guarantee of future results. The information provided in this podcast is not intended to be and should not be considered a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. There is a risk that some or all of the capital invested in any such securities may be lost. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.
ESG considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. ESG analysis may not be performed for every holding in every strategy. ESG considerations that are material will vary by investment style, sector/industry, market trends and client objectives. Certain strategies seek to identify issuers that they believe may have desirable ESG outcomes, but investors may differ in their views of what constitutes positive or negative ESG outcomes. As a result, certain strategies may invest in issuers that do not reflect the beliefs and values of any particular investor. Certain strategies may also invest in companies that would otherwise be screened out of other ESG oriented portfolios. Security selection will be impacted by the combined focus on ESG assessments and forecasts of return and risk.

As investors, we know that climate risk is real—and that we cannot achieve real climate action without a material shift to renewable energy sources. So, as we think about driving toward a lower carbon economy, we want to understand different opportunities and perspectives across the energy landscape. In this episode we are diving into renewables, and specifically into solar power. Brown Advisory's Erika Pagel sits down with Raghu Belur, the Co-founder and Chief Products Officer of Enphase Energy, which has revolutionized the solar industry with its microinverter-based technology. Erika and Raghu explore solar—in terms of economics, job creation, energy security and climate action.

In part 1 of our energy transition series, Dr. Atul Arya, Chief Energy Strategist of S&P Global, said, "Energy companies are really good at putting steel in the ground and building stuff." In his mind, they must be part of the solution to create a low-carbon economy. So, in part 2, Brown Advisory's Erika Pagel explores the role of traditional energy companies with Allyson Book, the Chief Sustainability Officer of Baker Hughes, an engineering and technology provider that works with many of the largest global traditional oil and gas companies. How are the companies that built their businesses on fossil fuels facilitating a transition to a more sustainable, lower-carbon future?

In conjunction with Climate Week, we are launching the first episode in our three-part NOW podcast series on the transition to a low-carbon economy. In this first episode, Brown Advisory’s Erika Pagel sits down with Atul Arya, the Chief Energy Strategist of S&P Global, to discuss the race to net zero. They cover the impact of the war in Ukraine, the role of traditional energy companies, the promise of technology and innovation, and the feasibility of reaching the Paris Agreement’s critical but ambitious targets by 2050.