The document discusses the outcomes and reflections on the global energy transition following COP26, emphasizing the roles of various stakeholders and the need for collaboration to achieve net zero goals. It outlines key agreements, initiatives, and frameworks intended to facilitate decarbonization across industries, including commitments to end deforestation and the phase-out of fossil fuels. The presentation also highlights the evolving project management landscape in a net-zero future, advocating for a more inclusive and strategic approach to tackling climate change.

1. Projects Post-
COP26 – reflections
The bumpy road to net zero
Martyn Link, Chief Strategy Officer
January 2022

2. Energy transition – everyone has a role to play
A presentation by Wood.
2

3. Energy transition scenario planning
3
The process drives a strategic conversation around uncertainty and Wood’s alternative futures

4. Shaping the future through scenarios
A presentation by Wood.
4
SOLIDARITY
TECHNOLOGY
TAILWIND
DOLDRUMS
HEADWIND
TURBULENCE

5. Wood House
A presentation by Wood.
5
Along with our valued clients, partners and industry experts, we held
106 breakfasts, lunches, dinners, workshops, presentations, panel
discussions and nightcaps @Wood House over the course of the two
weeks.
We saw some 3000 in person visitors and even more online.
We had over 250 speakers and over 200 industry partners.
Our content ranged from industrial decarbonization, to resilient cities,
solutions in Hydrogen, in transportation, in diversity and equality….
We were joined by a wide range of our clients, by industry thought
leaders, academics, Heads of State, Government leaders and Ministers,
Global City Mayors, journalists, Heads of UN Depts, activists, charities,
schools and so much more…

6. COP 26 Headlines
A presentation by Wood.
6
Meaningful progress
across 3 pillars of Paris
2015: mitigation,
adaptation and finance
A refocus on addressing
environmental
loss/damage
Addressing an
uncomfortable issue;
trust
Accelerated a move away
from most the carbon
intensive fossil fuels
Emphasis & alignment
around action to achieve
45% emission reductions by
2030
Increasing visibility and
responsibility around
measuring progress
and reporting metrics
Determined focus on
near term action
Created convergence
of interests between
investors, businesses,
cities & regions
Regulators Learning from
others and adopting best
practices of NGOs and Task
Forces

7. Creating the frameworks for action
Groundwork on enforcement of
sustainability standards and resilience
Launch of International
Sustainability Standards Board
and new metrics
Regulatory frameworks leveraging best
practice from voluntary initiatives
Deepening integrity and accountability
for non-State actors
Success of Race to Resilience /
Race to Zero
Role of UN HLCC 5 year plan
Developing the required momentum
COP26 Outcomes
A presentation by Wood.
7
Glasgow has not guaranteed 1.5°C but it has kept the prospect of achieving it alive
Acceleration through collaboration
Breakthrough commitment to end
deforestation (133 countries signed -
achieved by 2030
Public-Private alignment on key
breakthroughs in clean technology
Focus on five sectors (power, road
transport, steel, hydrogen,
agriculture)
Tracked & monitored as part of
the agreed Global Checkpoint
Process
Non-state actors leading way on
providing finance for loss and damage
Major agreement on methane
Accelerate phase-out of coal and phase
out fossil-fuel powered internal
combustion engine (2035 target)
Mainstream private finance publicly
committed to economic transformation
aligned to 1.5 degree pathway
5 catalytic initiatives (emerging
economies)
Converge on sector
decarbonisation pathways
(alignment)
Support Africa and Small Island
Developing States
Success of Race to Zero – 8000 non-
state actors signed up to halving carbon
emissions by 2030

8. A presentation by Wood.

9. The future of projects in a net zero world
A presentation by Wood.
9
Developer
fluidity
Asset
integration
Stakeholder
alignment
What is the
benefit?
[just & fair
transition]
How it works
[modular plug
& play]
How we work
together
[agile
contracting]
• Less greenfield, more urban
developments
• More inputs / outputs to
consider
• Brownfield risk prominent
• More government
involvement / oversight of
privately funded projects
• Society have greater
influence / decision making
• Direct & indirect social
benefits will be critical
• Many more smaller developers will
fragment the market
• Access to capital will be a differentiator
• OEMs will seek to squeeze out the EPCs

10. 5 shifts I see in project management
A presentation by Wood.
10
Design complexity Integration complexity
Technical expertise Project bankability
Engineer is king Project manager is queen
Oil & gas-type contracting Infrastructure-type contracting
Government as regulator Government as customer

11. The local / global citizen mindset
A presentation by Wood.
11
From a polarized debate on fossil fuels
From “us” and “them”
From being focused on the needs of my people (in the
(relatively) wealthy west)
From a simplistic approach to emerging industries
From being focused on the desire to create wealth for
myself
From living as I want as long as I don't hurt anyone
to appreciate the urgent need to quickly transition
industry, jobs & communities to a different future.
to “we” – all of us are included – employees,
employers, citizens, voters
to also considering the needs of the foreigner (in
the exposed east)
to investing in areas where the UK can be
globally competitive
to the desire for creating wealth for my children's
children
to living with the knowledge that every choice has
unintended consequences

12. Thanks for the opportunity!
Martyn’s passion is to shape the energy transition to
create a low carbon, sustainable future for all.
As Chief Strategy Officer Martyn leads Wood’s energy
transition mega-trend and corporate strategy team.
Martyn has had the privilege of being at the heart of
many of the transformational changes that have shaped
Wood over the last ten years as we have pivoted towards
the energy transition.
Martyn is a scientist by training and began his career at
Wood Mackenzie where he focused on strategic
intelligence. Martyn subsequently helped shape the
investment portfolio of a biotechnology innovation fund
before joining Wood in 2011.
A presentation by Wood.
12
Martyn Link, Chief Strategy Officer

13. ABOUT WOOD
A presentation by Wood.
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14. A presentation by Wood.
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15. A presentation by Wood.
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16. Humber Zero
A presentation by Wood.
16
Decarbonisation of an industrial cluster:
VPI Immingham CHP, Phillips 66 Humber Refinery
and Uniper Killingholme Power Plant
Scope
• Green hydrogen via electrolysis
• Blue hydrogen via advanced SMR and / or ATR
• Post-combustion carbon capture on CCGT, steam boilers and refinery
process units
• Pipelines Hydrogen/CCS
Wood’s solutions
• Development of decarbonization roadmap
• Pre-FEED design and costing for preferred options
• Integrated steam and power balances for cluster
• Support for application for funding to UK Government

17. Wood playing a pivotal role in industrial clusters
17 A presentation by Wood.
Designing optimised, state-of-the-art carbon
capture facilities for gas-fired power and six
industrial processes. Key UK emitters with
high impact on climate change.
Roadmapping the decarbonisation of the
east coast of Scotland
Future forecast of hydrogen production and
demand capacity.
CO2 and H2 storage considerations.
BP Net Zero Teeside SGN Northeast Scotland