The current commodity market turmoil related to the Russia-Ukraine War has highlighted the importance of global commodity markets in supporting the energy transition to low- and zero-carbon fuels, while also creating unprecedented volatility and risk around trading and risk management of oil, gas, and metals. This raises questions regarding how we can restructure and build commodity trading that can both support progress toward net-zero goals while managing the risks of price swings and unpredictability for consumers and industry. The Russia-Ukraine crisis also highlights how the main players in the commodity industry are transitioning from large banks to private trading houses, potentially raising questions about market efficiency, transparency, and ESG.
In their book The World for Sale, Javier Blas and co-author Jack Farchy explore commodity trading related to key resources around the world. The Center on Global Energy Policy hosted Mr. Blas and Mr. Farchy for a presentation of key themes of their book. Following their presentation, they joined a moderated discussion on the implications of the current turmoil in commodity markets for the energy transition.
Moderator:
-- Jason Bordoff, Co-Dean, Columbia Climate School and Founding Director, Center on Global Energy Policy at Columbia University SIPA
Speakers:
-- Javier Blas, Energy and Commodities Columnist at Bloomberg
-- Jack Farchy, Senior Reporter for Energy and Commodities at Bloomberg News
-- Maria Jelescu Dreyfus, CEO and Founder, Ardinall Investment Management and Co-Chair, Women in Energy Steering Committee, Center on Global Energy Policy at Columbia University SIPA
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