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Does the ‘S’ in ‘ESG’ stand for Security today?

With energy prices rising at an accelerated rate, I’m reminded of a long-term fundamental I raised three years ago alongside the evident and popular ‘Energy Transition’ trend.

I coined it ‘Energy Security and Assurance’ and encouraged the investment community and regulators to consider it in their calculus when thinking about future resource supply and demand. At the time, I felt it was analogous to Food Security.

The definition of ‘Energy Security and Assurance’ or ‘ESA’ is as follows:

‘The focus of nations and regions to improve their energy security, reliable supply, and uninterrupted access for their populations. This requires energy and infrastructure development.’

Given recent world events, it appears that we would have been (and will be) well served for stakeholders - including governments, regulators, and rating agencies - to factor ‘ESA’ into decision and policy making with equal weighting to the Energy Transition imperative.

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