Sustainability

Corporate Social Responsibility

Climate Finance

Sustainability and climate change

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Economics & Public Policy

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51�Թ�� Business School’s event showcased female leaders driving sustainable investing, ESG innovation and long-term value creation.

Main image: 51�Թ�� Business School | Fergus Burnett

2 minute read

Tackling Plastic Pollution - Moving From Obsession to Profession

Francesca Hoare — Tue, 04 Mar 2025 09:31:29 +0000

Tackling Plastic Pollution - Moving From Obsession to Profession

Francesca Hoare Tue, 04/03/2025 - 09:31

4 March 2026 Alumni

Besnik Mustafa (Weekend MBA 2026)

After beginning his career at Finance Think, Besnik Mustafa went on to advise Members of Parliament in North Macedonia. He later joined Salience Consulting, gaining experience across multiple international markets.

28 January 2026 Alumni

Partner with our students: why businesses should apply for our consulting projects

Last summer, global consulting firm AlixPartners were one of 87 companies who partnered with 51�Թ�� Business School for our Consulting Projects, presenting students with a real-world business challenge. The results? Innovative solutions, fresh perspectives, and measurable impact.

21 January 2026 Alumni

Alper Barut (MSc Management 2008)

Alper Barut (MSc Management 2008) is a serial entrepreneur and co-founder of AI-powered platform Leadport.ai.

20 February 2023

It's Sustainability Week! Dominic Santschi, MSc Climate Change, Management & Finance alumnus and Ampliphi co-founder discusses his sustainable business and shares advice to others on starting sustainable companies:

One of the key ways we do this is through our proprietary software, which uses machine learning algorithms to analyse brand-specific data and identify opportunities for cost savings and plastic waste reduction. By analysing data from a brand’s product, packaging and supply chain, we help consumer goods leaders identify inefficiencies and reduce their plastic footprint.

When we started Ampliphi in June 2021, we were challenged to convince potential customers of the value of our solutions. Many brands were skeptical of the benefits of sustainability analytics and data-driven strategy development, and they were hesitant to invest in our digital services. However, we were able to overcome this challenge by demonstrating the cost savings and environmental benefits of our solutions through detailed case studies and pilot projects.

Another challenge we faced was navigating the complex and rapidly changing regulatory environment around corporate sustainability disclosures, and, more specifically, extended producer responsibility policies. The Specialised Master’s at 51�Թ�� helped me understand the policy and regulatory landscape, and this knowledge has been invaluable in navigating the challenges faced by Ampliphi.

Advice for others when starting a company with sustainability in its DNA:

Clearly define your mission and values: it is essential to have a clear understanding of why your company exists and what it stands for. This will help you stay focused and motivated, and it will also make it easier to communicate your message to potential customers and strategic partners.
Be prepared to face challenges: starting a sustainability services company is not easy, and you should be prepared to face a range of challenges, from technical and financial to regulatory and marketing. It is important to be resilient and to have a strong team of people who can help you overcome these challenges.
Focus on delivering value: it is essential to understand the needs of your customers and to deliver solutions that meet those needs. This is especially important in the sustainable sector, where many organisations are skeptical of the business benefits beyond marketing campaigns and improved brand reputation.
Keep up with the latest trends and regulatory developments: the corporate sustainability landscape is constantly evolving, and it is important to stay informed about the latest trends and regulatory developments. This will help you stay ahead of the competition and to develop innovative solutions that meet the needs of your customers.
Network, network, network: building relationships with your customer segment, other businesses, academia, and experts in your target industry is vital for success. This can help you learn from others, find partners and clients and stay informed on the latest developments in the industry.

In conclusion, building Ampliphi has been an incredibly rewarding and challenging experience. The MSc Climate Change, Management & Finance programme provided me with the knowledge and inspiration to pursue my passion for sustainable business, and I am grateful for the opportunity to make a positive impact on the world. I encourage others who are interested in starting a sustainability services company to pursue their dreams and stay focused on delivering value to their customers and the planet.

Written by Dominic Santschi

Entrepreneurship

Programme

2 minute read

Alumni Blog: Ravi Varghese, Head of Sustainable Investing at a global asset management firm

Francesca Hoare — Tue, 04 Mar 2025 09:31:29 +0000

Alumni Blog: Ravi Varghese, Head of Sustainable Investing at a global asset management firm

Francesca Hoare Tue, 04/03/2025 - 09:31

4 March 2026 Alumni

Besnik Mustafa (Weekend MBA 2026)

28 January 2026 Alumni

Partner with our students: why businesses should apply for our consulting projects

21 January 2026 Alumni

Alper Barut (MSc Management 2008)

Alper Barut (MSc Management 2008) is a serial entrepreneur and co-founder of AI-powered platform Leadport.ai.

20 February 2023

If investors want businesses to clean up their act, they need a seat at the table. That’s according to Ravi Varghese, Head of Sustainable Investing at global asset management firm Epoch Investment Partners.

After seven years as an investment analyst, Ravi Varghese followed his interest in climate change by taking a role with Ceres, a sustainability organisation based in Boston. But he missed the cut and thrust of investment and went on to complete an MSc in Climate Change, Management & Finance at 51�Թ�� Business School in 2018.

“51�Թ��’s reputation at the intersection of science and technology and management really stood out, and its network has been incredibly helpful.”

Promoted at Epoch in New York after joining as an analyst in 2019, he is now in charge of environmental, social and governance (ESG) and, with his team, helps assess the implications of ESG issues for the firm’s portfolio of around 500 listed companies.

Dealing in controversy

Grappling with ethics is part of the job. Nothing, in his view, is off limits when it comes to applying the tools of ESG investing – from fossil fuels through to defence and Big Tech. “We don’t exclude any sectors; controversial industries are more likely to benefit from a thoughtful ESG approach.”

Investors had grown pessimistic about the prospects of hydrocarbons, he says, but when energy prices soared, many ESG investors found themselves without exposure to these pivotal companies.

“Some sectors have fallen out of favour, but we’ve always said these companies are central to the global economy and energy security and will continue to be so for the next 30 years,” he explains. “Many are making the transition to lower carbon energy, and we want to take part in that.”

It’s perfectly reasonable that the tech giants should be subject to scrutiny

Divesting from fossil fuels doesn’t reduce emissions, it simply shifts the ownership, “and if that ownership becomes opaque, it could make things worse.”

Big Tech, with its vast influence over societies and economies, is fraught with pitfalls for ESG investors, but can’t be ignored. “It’s perfectly reasonable that the tech giants should be subject to scrutiny,” he says. “As investors, we continue to think how we can be effective partners while challenging practices that could ultimately draw a backlash from society or regulators.”

If a client’s reputation is at stake, a company fails to reform or displays weak governance, then it may be time to depart. “One of the interesting things about ESG is that it merges the pragmatic reality of the corporate world with more complex issues around ethics and reputation.”

The growth of ESG

Even in the last three years, ESG has developed apace, says Ravi. “Not every asset manager had an ESG team then, which is very different today. ESG had to overcome a lot of scepticism… It means many things to many people, so definitions are important.”

In his role, Ravi often engages directly with companies to dive deeper into the detail around ESG performance, and he works closely with investment analysts in his company. Investor stewardship is another important pillar in ESG – increasingly, for instance, shareholders are asking businesses for plans to report and cut emissions and meet environmental and social targets. His team is also responsible for explaining the firm’s ESG philosophy to its clients.

Controversial industries are more likely to benefit from a thoughtful ESG approach

While formal qualifications aren’t a prerequisite for entering the ESG field, he’s grateful for the solid grounding delivered by his time at 51�Թ�� Business School.

“It gave me a foundation in climate science and the political, economic and technological tools for mitigating emissions. I think it really accelerated my ability to pursue this career. ESG is now being applied to so many different industries and asset classes, and it promises to be a really interesting journey.”

Ravi Varghese in brief

Completed the MSc in Climate Change, Management & Finance at 51�Թ�� Business School
Head of Sustainable Investing at global asset management firm
Worked as a senior associate at a non-profit organisation advocating for sustainability
Completed his undergraduate degree at Yale University

Programme

3 minute read

Alumni blog: Sales and Climate Change: towards a new ‘Green Commercial Way’

Francesca Hoare — Tue, 04 Mar 2025 09:31:29 +0000

Alumni blog: Sales and Climate Change: towards a new ‘Green Commercial Way’

Francesca Hoare Tue, 04/03/2025 - 09:31

4 March 2026 Alumni

Besnik Mustafa (Weekend MBA 2026)

28 January 2026 Alumni

Partner with our students: why businesses should apply for our consulting projects

21 January 2026 Alumni

Alper Barut (MSc Management 2008)

Alper Barut (MSc Management 2008) is a serial entrepreneur and co-founder of AI-powered platform Leadport.ai.

7 October 2021

Multiple studies show that 97% or more of actively publishing climate scientists agree that: ‘Climate-warming trends over the past century are extremely likely due to human activities’.

There is no doubt that there are many initiatives at institutional and corporate level to increase awareness and actionable engagement in order to reverse this trend. The Paris Agreement, Katowice deal, many corporate reforms and announcements - these are positive actions towards this direction. However, for impact to happen, we need to reform the whole supply chain, from the way we produce, sell and serve, to the way we consume.

Apart from the institutional and corporate activation at central/global level, actionable engagement is needed at micro-level too. Whether it concerns individual responsibility, social groups and populations, operational functions etc. In relation to this, I will focus on Sales/Commercial:

Sales operations engage daily millions of employees, customers and consumers. This means that they significantly affect the environmental footprint, through their physical activation, operation and communication.
Sales act as an intermediary among businesses, customers and consumers. Which means that they communicate, influence and mobilise hundreds of millions of actions and decisions on a daily basis.

So, if businesses wish to mobilise a green commercial attitude fast and at a large scale, over and above their own social responsibility commitments and processes, they have a powerful weapon in their hands to do so: the Sales team and the greater Commercial organisation.

Here are a few examples of how I believe we can transform towards greener commercial ways:

Consumers and Shopper Insights

Learn about your consumers’ potential new green needs, and share with them the actions you have to taken towards a strong positive green impact. Soon, the world is going to be driven by circular economy and probably next to it we will see a new model in the demand side/consumption developing along the lines of consume ‘less, better, simpler and in a responsible way’. If so, then we will have to incorporate it within our consumer and shopper insights.

Coverage

This is key, because it is simple and instant. The daily coverage of the market, with millions of employees out in the field, affects the amount of greenhouse gases released by human activities (e.g. transportation, etc.).

This has to be changed and it can be done. By optimising the efficiency of the coverage plan towards new ecological measures, which can be added within the set of sales KPIs. The ‘coverage plan’ may have to change and/or the way we travel as well. AI, digital transformation and technology can act as powerful levers towards this end, as well as the revolution in the car industry which is changing the potential options for car and vehicle fleets.

IT tools

There are very strong developments in AI, digital, sales automation, big data, business analytics and other relevant topics being driven by technological revolution. This gives companies the opportunity to better understand their market. But also, to communicate with their customers and consumers in different and more direct ways than ever before.

The adoption of these technological developments by the Sales community at a large scale, can positively influence their ecological impact in relation to coverage, travelling, materials usage, promotion and communication.

Change Management

Due to the rapid technological developments, as well as the development of circular economy and its needs, a new model of ‘Sales Leader’ is required. In the future a successful Sales Leader will be someone who is able to see, not only the benefits of new technology and circular economy, but also to visualise and understand how these revolutions can redefine the way they conduct business and approach to route-to-market, market development, brand portfolio, organisational structures, consumer relations, innovation etc.

These leaders will be the ‘Angels of Change’ who will be able to lead from the front and influence the rest of commercial organisations towards these reforms. This means that particular focus has to be paid to change management training programs, processes and initiatives.

The adoption of these technological developments by the Sales community at a large scale, can positively influence their ecological impact in relation to coverage, travelling, materials usage, promotion and communication.

KPIs and Scorecard

Based on the above, along with the classic performance measures (quantitative and qualitative) the time has come to incorporate a set of green key performance indicators, with results reported on within the formal routine (month/quarter/annual) sales performance scorecards. Keep it simple. Make a green set of sales KPIs that makes sense, can be monitored and measured (SMART).

Sales Incentives, Trading Terms and Commercial Decisions

In order to mobilise the whole of your salesforce further and adopt enthusiastically the new ‘Green Commercial Way’, it is important to incorporate the above green KPIs within the salesforce bonus system. And also, in relation to the Value/Volume KPI scale of our salesforce bonus system and put more emphasis (financial remuneration) on green brands.

Of course, the same applies to special green incentives provided to customers, consumers and trade partners through trading terms and promotions. Finally, it would be very interesting to see this new green commercial attitude extended to important business decisions that Sales/Commercial leaders take. For example, they could begin to integrate relevant green commercial standards within their own decision-making process when selecting distributors in the market. This would mobilise the whole system even further and to a greater reach.

We should encourage Sales/Commercial organisations to become advocates, communicating to the rest of the market the power of our brands, unique selling proposals, promotions, best practices, advocacy programs and many others. They provide us with a powerful tool to communicate our environmental concerns and care to our customers, consumers and trade partners.

Key Takeaway

The latest U.N. report warns that: ‘The world has just over a decade to get climate change under control.’

Action at micro-level is key. And this has to be done fast and include the operational functions of businesses too. The time has come to embrace and adopt a new ‘Green Commercial Way’, which integrates the ecological dimension within the Objectives/Goals/Strategies/Measures set of the commercial organisation.

The companies that adopt this approach, will be the ones who will gain the respect of consumers and win at the point of purchase.

Programme

MSc in Management (MiM)

5 minute read

Alumni case study: Making sustainability accessible

Francesca Hoare — Tue, 04 Mar 2025 09:31:29 +0000

Alumni case study: Making sustainability accessible

Francesca Hoare Tue, 04/03/2025 - 09:31

4 March 2026 Alumni

Besnik Mustafa (Weekend MBA 2026)

28 January 2026 Alumni

Partner with our students: why businesses should apply for our consulting projects

21 January 2026 Alumni

Alper Barut (MSc Management 2008)

Alper Barut (MSc Management 2008) is a serial entrepreneur and co-founder of AI-powered platform Leadport.ai.

29 June 2021

Ecofye is a climate action advisory that specialises in helping companies minimise their environmental impact and drive long-term competitive advantage. It was set up by Daniela Arroyo-Olson and Tiago Fachada, two entrepreneurs dedicated to saving the planet. They met while studying MSc Climate Change, Management & Finance at the Business School. Find out what they are doing to support SMEs with their sustainable goals, the launch of their new platform Ecofye+ and how you can join the green revolution today!

Our story

Our journey began back in 2019 when we saw there was a widespread awareness among businesses to take action against climate change, but not enough was being done to reduce environmental impacts and truly integrate sustainability into everyday business decisions.

There is still a great market pressure and demand for companies to become more sustainable and reduce their environmental impact. But it can be overwhelming to examine and analyse this effectively. And what does sustainability really mean? How can you measure it? To answer these questions requires the right expertise, and time to implement the required sustainable changes.

Given their limited resources, this problem is especially acute among SMEs. This discourages them from taking meaningful sustainability measures. But given SMEs make up 90% of the business landscape in the UK, there is great potential to deliver a shift in circularity, decarbonisation and social impact. We are passionate about supporting people to join the green revolution, so we decided to combine our expertise to help companies tackle their climate challenges and make a difference.

By improving our environmental impact can have real effect on our planet. That is why we are inviting everyone to join the race to net-zero as global leaders, governments and societies take important steps towards fighting climate change.

Ecofye maps out a company’s climate-related risks and opportunities to offer tailored and time efficient solutions, with the use of machine learning. We help companies find solutions that address the underlying causes of climate change. Our sustainability framework not only analyses SMEs sustainability performance but also to provide accurate solutions to accelerate climate action.

Future-proofing for sustainable business

We believe there's never been a more important time than now for companies to take action. And that wherever a company is on its journey, it is possible to achieve sustainability goals. Our mission at Ecofye is to support companies with this and help drive a long-term competitive advantage.

We recently launched the Ecofye + platform, with the aim of making sustainability accessible and affordable for all SMEs. It allows you to measure your sustainability performance for free via the platform and receive your sustainability score based on circular economy, emissions and social impact. You can also set sustainable target for your company, set a target road map, track your emission reduction and offset with real, trackable and certified carbon credits.

What's next for Ecofye

Although we are a young company we were delighted to be nominated as a top sustainability company in London 2021. Best Startup UK highlights small and medium enterprises from the UK to help them be recognised internationally. We can now look forward to offering environmentally impactful solutions to companies from all over the world.

Ecofye are currently being supported by 51�Թ��’s Enterprise Lab, inspiring the next generation of student innovators and entrepreneurs.

Entrepreneurship

Programme

2 minute read

Being a Sustainable Student at 51�Թ�� Business School

Helen Richardson — Tue, 18 Feb 2025 09:13:30 +0000

Being a Sustainable Student at 51�Թ�� Business School

Helen Richardson Tue, 18/02/2025 - 09:13

13 October 2025 Student blog

Meet the Specialised Masters’ Class of 2026

Hear from 51�Թ�� Business Specailised Masters's students 2025-2026

28 February 2025 Student blog

From 51�Թ�� to Impact

Hear from an MSc Climate Change, Management & Finance graduate on his journey, career support, and sustainability insights.

14 February 2025 Student blog

51�Թ��’s Extended term: enhanced flexibility for your programme

Enhance your Master’s or Full-Time MBA experience with our 16-month Extended term. Gain valuable real-world experience through an extended Work Placement or Global Exchange, strengthening your career credentials and expanding your professional network.

20 February 2023

Student blog

Hello everyone! In honour of 51�Թ��’s Sustainability Week, your friendly “tree huggers” cohort (a.k.a. MSc Climate Change, Management & Finance students) are here to share some examples of sustainability on campus, as well as suggestions for incorporating sustainability into your own life!

51�Թ�� London has recently launched its first Sustainable Food & Drink Policy, outlining a set of ambitious targets to reduce the impact its catering and retail outlets have on the environment. Amongst other things, the policy includes commitments to continue to reduce the amount of beef served on-campus by 30% annually, culminating in the complete removal of beef by 2025-2026 (beef production generates more emissions than other protein sources). The policy also commits to making all dairy alternatives free across campus by the end of this academic year and to prioritise local, seasonal products.

In the MSc Climate Change, Management & Finance programme, our classes focus on how businesses can become more sustainable and how finance can be used to catalyse the transition to a net-zero economy. We are fortunate to be learning from the world’s leading climate change experts: Dr Paulo Ceppi, one of our professors for “The Science of Climate Change”, was one of 100 contributing scientists to Greta Thunberg’s The Climate Book. Our classes explore the nuances of sustainable finance and prepare us to lead an unprecedented energy transition over the next few decades.

On a personal level, my sustainable lifestyle practices include bringing a refillable water bottle and packed lunch in my reusable tupperware every day. Recently, I have opted for plant-based milk for my beverages of choice (not to mention that I always bring my 51�Թ�� Business School reusable coffee cup to get my orders). I am also a huge advocate for thrifting books and a frequent user of the ‘TooGoodToGo’ app, which gives me access to restaurants and stores that have surplus unsold food.

Although climate targets will only be met if businesses and governments act swiftly and follow scientific advice, individual actions remain essential to creating a more sustainable world. Each time you buy the “more sustainable” product, you’re sending a signal to companies that consumers care about the impact their purchases have on the environment, and companies will adjust accordingly. Collectively, individual actions do drive sweeping change!

To learn more about 51�Թ�� Business School’s commitment to sustainability, please visit its dedicated webpage. And check out The Grantham Institute’s Action Hub to learn how to incorporate sustainability into your own life!

Sustainably,

Jean Sau and Kirk Zieser

Learn more about MSc Climate Change, Management & Finance

MSc Climate Change, Management & Finance is a one-year programme that gives graduates the interdisciplinary skills required in business on issues relating to climate change and sustainability.

Download a brochure

Read more about MSc Masters' Programmes at 51�Թ�� Business School in our brochure.

Attend an event

Read more about MSc Masters' Programmes at 51�Թ�� Business School in our brochure.

Programme

2 minute read

My journey as a social entrepreneur at the Business School

Helen Richardson — Wed, 12 Feb 2025 14:21:54 +0000

My journey as a social entrepreneur at the Business School

Helen Richardson Wed, 12/02/2025 - 14:21

11 November 2025 Alumni

Alumni Q&A: Kristian Gubsch (MSc Innovation, Entrepreneurship & Management 2022)

Kristian Gubsch is the Chief Technology Officer & Co-Founder of Mars Materials, Inc. PBC™, and with a background in chemical engineering, he leads the development and scale-up of the company’s carbontech.

13 October 2025 Student blog

Meet the Specialised Masters’ Class of 2026

Hear from 51�Թ�� Business Specailised Masters's students 2025-2026

7 October 2025 Alumni

How the Careers team helped me!

Interviews with three alumni at different stages in their careers journey

15 May 2024

Student blog

Sankar Venkataraman Murali is a student studying MSc Innovation, Entrepreneurship & Management at 51�Թ�� Business School. In this blog, Sankar shares their motivations for studying the programme, opportunities for furthering skills in innovation and leadership, and how it's shaping them into a future entrepreneur.

I am grateful for the myriad opportunities at 51�Թ�� Business School. From assuming leadership roles to triumphing in innovation competitions, each step has enriched my personal and professional growth.

About Me

I am an aspiring social entrepreneur and sustainability advocate, currently pursuing MSc Innovation, Entrepreneurship & Management at 51�Թ�� Business School. My prior experiences, including leading projects like Project Zaraat and founding Career Wings, have endowed me with a versatile skill set in operations, content creation, and business innovation. These projects have significantly contributed to my professional development and personal growth, strengthening my commitment to effecting positive change in society and the environment.

Why I chose to study MSc Innovation, Entrepreneurship & Management

They say love at first sight isn't a myth, and I can attest to that. It happened to me twice (don't ask about the first time), with the second occurring when I discovered the course offerings at 51�Թ�� Business School. Words like "Innovation," "Entrepreneurship," and "Management" seemed to leap off the screen, resonating with my passions and identity. These concepts have always sparked my excitement and naturally drew me to the diverse skills encompassed by these topics.

Choosing 51�Թ�� Business School was an easy decision. The institution's reputation for providing abundant opportunities and exposure, combined with the chance to immerse myself in various entrepreneurship clubs and societies, was irresistible. The opportunity to study, learn, and grow alongside students and professors from around the world was incredibly appealing. Having been deeply involved in social entrepreneurship for the past three years, I aimed to continue this journey at 51�Թ��, seeking to collaborate on business ideas that benefit society, create a positive impact, and address significant challenges.

Clubs, societies and leadership

Upon arriving at 51�Թ��, I began seeking opportunities and experiences to engage with. I joined clubs and societies such as the Innovation & Entrepreneurship Club, Consulting Club, and Climate Entrepreneurs Club. I was elected Career Leader for my cohort, marking the beginning of my active contribution to the 51�Թ�� community in this role. As a Careers Leader on the Staff Student Committee (SSC), I was tasked with guiding over 90 peers through the maze of career opportunities and events, advocating for their career-related interests. This role proved both challenging and rewarding, allowing me to enhance the student experience and contribute to their professional growth.

Another significant milestone was being selected as the Vice President of Sustainability for the Dean's Student Advisory Council (DSAC). In this role, I was entrusted with spearheading sustainability initiatives, driving environmental awareness, and integrating sustainable practices into the School's ethos. I aim to leave a legacy of environmental stewardship and responsible business practices. I also established a Sustainability Committee, and we recently received the Community Fund to organise a new event at the Business School, focused on creating a Green Guide for incoming students at the university.

Innovative victories and sustainable solutions

A highlight of my time at 51�Թ�� was our team's victory in the VeChain x EasyA x University of Cambridge Hackathon. Competing against 21 teams from across the UK, our project, LogiQ, a decentralised application designed to revolutionise freight sharing in road logistics, emerged victorious. This victory was not just a celebration of our innovative solution but also a testament to the power of collaboration, diverse skill sets, and a shared vision.

Additionally, I have been actively involved in the Pre Climate Accelerator at the Climate Entrepreneurs Club, where my team is developing VeguVault, a vending machine that dispenses fresh greens grown via soilless vertical farming. This system ensures produce is kept in nutrient-rich water and harvested only when purchased, guaranteeing maximum freshness. The produce is stored in a climate-controlled environment, optimising preservation and nutritional value. This innovative approach aims to enhance urban access to fresh, sustainable produce while minimising food waste.

Looking forward

As the summer term approaches, I am filled with anticipation about developing my business startup, leveraging the extensive knowledge and insights gained from modules such as Venture Capital and Growth Finance, Strategic Management, Entrepreneurship, Technology and Innovation Management, and Design Thinking for Innovation and Impact, among others. My involvement in various clubs, workshops at the 51�Թ�� Enterprise Lab, and participation in business clubs and hackathons have prepared me for this moment. I have attended events such as the London Venture Crawl and masterclasses on topics such as “How to Pitch” and “How to Find Your First Customer.” I am excited to apply these theories and concepts in a real-world context, aiming to make a tangible impact through my venture.

Reflecting on my journey, I am grateful for the myriad opportunities at 51�Թ�� Business School. From assuming leadership roles to triumphing in innovation competitions, each step has enriched my personal and professional growth. These experiences have brought me closer to becoming the entrepreneurial leader I aspire to be, instilling a commitment to leveraging innovation for a better, more sustainable world. This journey of love, challenges, and achievements continues, marking a path of learning, impact, and transformation.

Discover MSc Innovation, Entrepreneurship & Management

MSc Innovation, Entrepreneurship & Management is designed to equip graduates with the skills to become entrepreneurs or lead innovation from within companies.

Download a brochure

Read more about MSc Masters' Programmes at 51�Թ�� Business School in our brochure.

How to apply

Discover our admissions process for the MSc Innovation, Entrepreneurship & Management including entry requirements, how to apply and key dates and deadlines.

Entrepreneurship

Student Journey

MSc Innovation, Entrepreneurship & Management

Programme

4 minute read

Professor Eddie Anderson on overcoming the risk and uncertainty of the energy sector

Shamita Harsh — Fri, 31 Jan 2025 10:53:04 +0000

Professor Eddie Anderson on overcoming the risk and uncertainty of the energy sector

Shamita Harsh Fri, 31/01/2025 - 10:53

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A passion for mathematical analysis in energy

"The management of risk and uncertainty is often hampered by a belief that we know things we don't, and the long-term nature of this sector makes accurate forward planning particularly difficult," he explains.

Professor Anderson's research focuses on supply chain management, risk mitigation, and decision-making in an industry where uncertainty is a constant challenge. "Uncertainty is something all businesses face, particularly when it comes to developing future strategies and setting targets. And nowhere is this more challenging than in the energy sector, where so many domestic and global variables are at play,” he explains.

At 51�Թ��, he teaches Energy Analytics and has published three books along with approximately 70 academic papers, further solidifying his impact on the field.

Managing risk in energy markets

One of the biggest challenges in energy economics is the unpredictability of pricing and demand. Professor Anderson highlights the dangers of overconfidence in predictions and reliance on technology without accounting that can bring high levels of future uncertainty. Political factors, unexpected global events like a pandemic or global conflict, and the risk of inaccurate predictions, known as "deep uncertainties “, further complicate forecasting.

"A mathematical analysis can help to manage these high levels of uncertainty and risk, and is essential in developing effective business strategies," he says.

It's a time-consuming exercise to flesh out a wide range of different scenarios, play with the variables, and identify what this means in terms of future strategy. But it's absolutely necessary, and by thinking outside the box, Professor Anderson says, we can minimise the danger of getting it wrong. This is crucial in a sector like energy, which is at the heart of all our lives and relies so heavily on long-term planning.

The challenge of predicting energy markets

The transition to renewable energy presents new challenges but in some ways we have been successful. While solar and wind technologies have become more cost-effective, we are committed to the goal of achieving net-zero emissions by 2050, a target which now looks increasingly unachievable.

Professor Anderson points out that carbon capture has not developed as expected, and renewables still struggle with supply-demand mismatches. Hydrogen has a role to play, particularly as a route to the decarbonisation of industrial processes, but the large amounts of energy storage that we need to address the supply-demand challenge are still problematic and very costly.

Price and demand

Price and demand are the two key variables in any business – and price in the energy sector is very difficult to predict or control. None of the various options available for a decarbonised energy system have prices that we can confidently predict ten years from now – and the demand side of the equation is also highly uncertain.

As we move away from natural gas for heating and petrol for transport, the demand for electricity will increase dramatically, but we are struggling to anticipate by how much, and how quickly, this will happen, he says. One alternative to the more traditional methodology of probability is the concept of "Least Worse Regret" or "Minimax Regret". This looks at past decisions with the benefit of hindsight, tests the outcome of different policies and strategies across a broad a range of scenarios, and attributes a tangible value to the difference or "regret".

"As a result of the energy transition to net zero, we are facing enormous uncertainties, some of which we can't easily put probabilities on, nor does it make any sense to do so," says Professor Anderson. "It means we need to find ways of planning to deal with that."

Exerting influence over energy demand

Professor Anderson emphasises that managing energy demand will require a combination of strategies.

"These might comprise 'smart' technology to control when energy is drawn down, pricing incentives and disincentives to lower demand at times of minimal supply, cost-effective energy storage, and ways to lower our overall energy demands – through better insulated buildings for example. It will take more than one of these developments to change the dynamics in this sector."

Professor Anderson wants to improve the way we look at energy going forwards: "This sector is a unique global ecosystem. It's in our nature as humans to be storytellers, but this sometimes comes with a confidence that simply isn't realistic.

"In the race to transition to net zero by 2050, it's vital that we acknowledge the things we don’t know and make use of analytical methodologies in creative ways to manage a very uncertain future."

During his career, Professor Anderson has held Faculty positions at Cambridge, the University of New South Wales, and the University of Sydney. Through his research and teaching, Eddie Anderson continues to influence the energy sector, shaping the way businesses and policymakers approach risk and uncertainty in an evolving global landscape.

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