News
Avenir LNG loses CEO Peter Mackey as search starts for replacement - TradeWinds
Avenir LNG loses CEO Peter Mackey as search starts for replacement | TradeWinds
Peter Mackey is stepping down as chief executive of bunkering joint venture Avenir LNG.
Avenir — which was set up as a joint venture between Golar LNG, Hoegh LNG and Stolt-Nielsen — said today that Mackey will stay with the company until the end of the first quarter of 2024 “to support the leadership transition”.
Related Knowledge Center: Climate economics
State of Play
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”