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External change
Business implications
Options
Economics
Capital plan
Monitoring
Policy, markets, technology, society
Physical, commercial, regulatory
Alternatives and pathways
Value, risk and trade-offs
Sequencing and resource allocation
Track, learn and adapt

A transition pathway is not yet a capital plan.

FROM AMBITION TO UNCERTAINTY
High-level net zero targets
Multiple, uncertain pathways
Technology and policy changes
Unclear asset and portfolio impacts
Strategic questions, not investment decisions
TODAY
Many possible futures
To investable action
Clarified transition pathways
Quantified asset implications
Risk-adjusted options
Capital plan with sequencing
Active monitoring and adaptation
TOMORROW
Investable progress

From change to capital. A connected decision chain. 

What we do.

Understand change
Turn global trends and policy developments into relevant insights for our assets and business
Define pathways
Translate transition scenarios into credible asset and enterprise-level pathways
Build the investment case
Quantify options, test assumptions, and build robust business cases and investment strategies
Govern implementation
Align stakeholders, set accountabilities, and enable adaptive management
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