Eni to capitalise on next auction of UK offshore wind farms
Eni, a major gas and oil company based in Italy...
Eni and Mainstream Renewable Power combine efforts to fund and develop a portfolio of renewable energy
The partnership will initially focus on the UK, with the fourth round of the UK’s offshore wind auctions attracting attention. Eni is set to expand out to Southeast Asia and South Africa after it settles its UK holdings. During the third round of auctions, held last week, competition was fierce and prices were a record low, according to KMPG reports.
Andy Kinsella, group chief executive at Mainstream, said: “Our joint participation in the UK’s Offshore Round 4 will combine our leadership position, expertise and unrivalled track record in the global offshore wind sector, with Eni’s pre-eminence and experience in offshore energy infrastructure, its commitment to decarbonize the energy system, as well as its robust balance sheet, in what is a capital-intensive business.”
With regulations around joint bidding seeing recent alterations, market heads predict that the renewable energy sector will see interest from new investors. Shimeng Yang, offshore wind senior analyst at Wood Mackenzie Power & Renewables, told Green Tech Media that the new announcement of the latest seabed leasing in the UK “will encourage oil and gas companies that have been very interested in offshore wind and trying to secure project pipelines."
Eni has showed interest in developing a portfolio of renewable energy of 5GW by 2025, in line with Paris climate agreement targets.
Mainstream brings a wealth of experience of offshore wind farms with it. It was the initial progenitor of the 3GW Hornsea project, since sold to Orstead, it also worked on developments in Vietnam for a 800-megawatt facility and the 450-megawatt Neart na Gaoithe project, acquired by EDF.
Moody’s diversity, equity and inclusion report 2020
Financial services company Moody’s is headquartered in New York and has a revenue of $417m. The company has made significant progress on its environmental sustainability and DE&I commitments through 2020, from exceeding its climate promises to meeting the growing global demand for ESG capabilities from consumers.
At Moody’s, diversity is strength
The 15 page document reviews the company’s diversity and inclusion journey to date, race, ethnicity and gender data and investments in black equity.
“The work of breaking down barriers for underrepresented groups in the workplace, in finance and in society starts with advancing Black culture”, said DK Bartley, Chief Diversity Officer. “This year, we’re proud to have pledged $2.2 million to support the Black communities where we live and work – and close the gap in finance and tech.”
Across its many offices, the message of welcoming every demographic of employees is clear.
“The best thing about working at Moody’s is the culture of collaboration between people of different backgrounds and cultures – seeing that in action really drives home the message that diversity is our strength”, Ronald Chan, Assistant Vice President, Government & Public Affairs, and Co-Chair of Moody’s LGBTA BRG (APAC).
According to the report, 33% of Moody’s executives are women, a 7% increase from 2018 and 33% of senior management are women.
“Moody’s commitment to promoting inclusivity is exhibited through the culture, development and services we have in place to support women, people of colour and LGBTQ+”, Melanie Hughes, Chief Human Resources Officer. “We invest in this because we believe it is essential for everyone’s success.”
Satisfied customers and partners have seen that Moody’s commitment to diversity and inclusion is not just a PR stunt.
“During our partnership, Moody’s has supported various research projects and initiatives that explore challenges and promote solutions to issues businesses face when establishing DE&I best practices. We look forward to our continued partnership with Moody’s to advance inclusive workplaces in the region.”
Peter Sargant, CEO, Community Business, Diversity and Inclusion in Asia Network (DIAN).
Moody’s continues to improve representation
Moody’s holds its suppliers to the same high standard as itself, ensuring suppliers embody similar principles. The Supplier Diversity programme at Moody’s provides businesses owned by underrepresented groups with equal access to opportunities to conduct business with Moody’s.
Moody’s recently pledged 5% of its 2021 procurement budget toward integrating women-owned businesses into its supply chain.
“We know Moody’s has an important role in improving representation in the financial sector, and now is the time”, concluded DK Bartley. “Moody’s is continuing on the road to becoming a more diverse and inclusive company.”