Josephine V. Yam

Josephine Yam Selected as Energy Futures Lab Fellow

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Josephine Victoria Yam, the Executive Director of the Environmental Law Centre (Alberta), has been selected as one of 40 Energy Futures Lab Fellows.

These Fellows are leaders from across Alberta’s energy system who are charting the course towards shaping a new energy future for Alberta. Each of the Fellows brings a particular viewpoint representing a diverse set of interests including government, ENGOs, energy industry, academia, First Nations and community groups. What unites these leaders is an understanding of the need to move towards a new energy system for Alberta characterized by sustainability, resilience and innovation.

As Josephine notes…

"For many decades, Alberta has been a major engine of economic growth for Canada. Central to this growth is Alberta's carbon-intensive oil and gas and oil sands resources. Alberta should recognize these carbon-rich resources as opportunities - not barriers - that can help its successful transition to a carbon-constrained world".

"Alberta has a vast abundance of clean energy resources - - - solar, wind, geothermal and biomass. It can use its world-class research and innovation and its entrepreneurial spirit to develop these low carbon resources in cutting-edge, innovative ways as it did with oil and gas and oil sands many decades ago".

Want to learn more about Josephine's work with the Energy Futures Lab? Connect with Josephine via LinkedIn

New Sustainability Metric: Total Return on Resources

The Boston Consulting Group (BCG)'s recent report stated that, in order to succeed in this new world of sustainability, companies will need to treat "resource management" as essential to their business. To do this, companies must focus on their “total return on resources” in order to optimize their inputs and outputs to maximize profits.

For inputs, companies will need to monitor the payback from natural resources in order to minimize the consumption of scarce supplies. Thus, power companies, for example, put a lot of money in improving the efficiency of their generating plants to reduce how much coal or natural gas they need in order to produce each megawatt of electricity.

For outputs, companies will also need to manage the "putback", which is the effect of their actions on the future supply of natural resources and on the climate so as to limit damage to the larger ecosystem. In such cases, for example, power companies put a lot of money in scrubbers and other processes to reduce the harmful emissions they release into the air.

The BCG report cites many stellar examples of companies focusing on their “total return on resources”. One of them is the Florida Ice & Farm, a Costa Rica-based beverage company. Its highly visionary CEO, Ramón de Mendiola Sánchez proclaimed that 40 percent of the variable portion of executive pay would be dependent on the company’s performance on environmental and social measures. He established a framework of strict measurements and strong managerial focus on environmental metrics, such as solid waste, water use and carbon dioxide emissions. The company set very lofty goals of achieving zero net solid waste by 2011, becoming water neutral by 2012 and carbon neutral by 2017. Thus, it comes as so no surprise that one of its bottling plants has become the most efficient in the world in terms of water usage. At the same time, the company’s revenues and market share have continued to grow through a tough economy. Mendiola firmly believes that this commitment to sustainability is the only way to achieve continued growth and to sustain Florida’s position as one of the most influential and admired companies in Costa Rica.

Indeed, the BCG report notes that, as resource supplies fail to keep up with burgeoning demand, companies will start treating sustainability as a central part of management rather than thrust it to the amorphous office unit of corporate social responsibility. The world as a whole is on the verge of a new wave of innovation in resource management, the report observes. And, as with all innovation, this will create opportunities for companies to teach others how to thrive in a carbon-constrained, resource-constrained world.