Preparing for Class 6 ("Acting on Climate and the Future of Fossil Fuels") and Class 7 ("Assessing Sustainability Performance, Materiality, and the Alphabet Soup")
Part of my insider series tracking the conversations in my MBA course "Climate, Sustainability, and Corporate Governance"
Friends - this week, we wrap up our section on “Re-imagining the Fundamentals: Climate, Water, Food & Energy” through a case studies of Exxon in Guyana and a tutorial on sustainability standards led by Patrick Moloney from Ramboll Consulting. The readings and abridged case will help you keep up with the conversation.
Class 6 - Acting on Climate and the Future of Fossil Fuels
In this session, we will use the Exxon in Guyana case to explore the tensions between acting on climate goals and pursuing high-margin fossil fuel projects. We will analyze ExxonMobil’s strategy in the context of a shifting global energy landscape, Guyana’s rapid transformation into a petrostate, and the geopolitical and economic stakes of new oil development. The session will combine a case discussion with insights from guest speaker Patrick Duddy and a debrief of the Net Zero simulation to connect corporate strategy, national interests, and climate imperatives.
Abridged case study: Exxon in Guyana: Advantaged Barrels in a Carbon-Constrained World
Assignment questions are at the end of the case.
Readings:
Podcast: Business Breakdowns “Exxon Mobil: An Aging Energy Empire.” (78 min)
Provides a deep dive into ExxonMobil’s business model, financial dynamics, and strategic challenges as the company navigates the energy transition. This episode sets the stage for analyzing the future of fossil fuels.
Bousso, R. (2025, March 26). Welcome to the age of Big Oil's managed decline. Reuters.com.
Examines how oil majors are confronting declining demand, rising investor pressure, and the prospect of managed decline. This article highlights the structural forces reshaping the sector.
Paddison, L. (2025, March 29). A tiny rainforest country is growing into a petrostate. A US oil company could reap the biggest rewards. CNN.com.
Profiles Guyana’s rapid transformation into an oil-producing state and the outsized role of ExxonMobil. This piece raises questions about development, dependency, and environmental costs.
YouTube video (2023): President Dr Irfaan Ali talks oil & gas & how it is transforming Guyana's economy on BBC's HardTALK. (24 minutes)
Offers Guyana’s political perspective on oil as a driver of economic transformation. The interview provides valuable insight into how host governments frame opportunities and defend trade-offs in the fossil fuel era. Don’t miss the argument around 16 minutes!
Class 7 - Assessing Sustainability Performance, Materiality, and the Alphabet Soup
In this session, we will focus on how companies assess sustainability performance and navigate the complex “alphabet soup” of reporting and regulatory frameworks. Drawing on recent analyses of climate and sustainability regulations in the U.S. and EU, we will explore how evolving disclosure requirements shape competitiveness and corporate strategy. Guest speaker Patrick Moloney from Ramboll will lead an interactive workshop to deepen our understanding of materiality, compliance, and best practices for aligning sustainability reporting with business value.
No Case Study today
Full 2 hours will be a workshop on sustainability metrics, led by Patrick Moloney, Ramboll Consulting (virtual)
Readings
Sasfai, B., et.al. (2025, Jan 26). Climate and Sustainability Regulations: 2024 End-of-Year Review. Harvard Law School Forum on Corporate Governance
Reviews the major global regulatory developments in climate and sustainability from 2024, highlighting implications for corporate governance and disclosure. This piece provides a snapshot of the fast-changing regulatory environment businesses must navigate.
Brennan, S., et.al. (2025, April 30). EU 2025 Sustainability Regulation Outlook: Unlocking competitiveness and growth.
Analyzes how the EU’s latest sustainability regulations are reshaping corporate strategy, competitiveness, and reporting practices. This article offers forward-looking insights into the business opportunities and compliance challenges these rules create.