Spencer Stuart: Eyeing Renewables - Oil and Gas Majors Bridging the Gap to Renewable Energies
A green revolution is shaking up the global energy sector. There is a clear market opportunity that needs to be addressed and pressure from investors and stakeholders will only increase with time. Leaders of oil and gas companies seeking to create value in renewables will need to do the following, according to the latest Spencer Stuart piece:
- Be attractive to top talent
- Create a more nimble culture
- Acquire and integrate new businesses
Oil production is expected to continue rising over the next decade in line with demand, but the oil and gas sector’s long-term outlook is challenging from both a financial and human capital perspective. Between 2009 and 2019 the number of oil and gas companies in the S&P 500 fell from 39 to 29 and the sector’s proportion of market cap declined from 11.9% to 5.1%,according to Spencer Stuart research.