Episodes
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Alec Crawford is joined by Patrick White, project manager at the Nuclear Innovation Alliance, to discuss nuclear energy, sustainability, and technology. Patrick talks about his career journey and how he ended up at the Nuclear Innovation Alliance, starting with his studies at Carnegie Mellon University and working in the commercial nuclear industry. He then pursued a Masters and PhD in nuclear science and engineering at MIT while co-authoring the 2018 report on the future of nuclear energy. The conversation focuses on the role of nuclear energy in deep decarbonization and how technology and artificial intelligence can be used to build a better sustainable future.
Patrick is a graduate of 2021 and works for the Nuclear Innovation Alliance. His role involves looking at the regulations currently in place for nuclear power plants and making them more effective and efficient. He is also looking at policies at the state and federal level that would enable nuclear energy deployment. Patrick advises aspiring nuclear engineers to figure out what aspects of the energy problem they are most excited to solve and to take advantage of opportunities, such as internships and degrees in related fields, to plug into that.
This conversation discussed the role of nuclear energy in the U.S. The speaker explained that the future of nuclear energy depends on how seriously we take climate change and our clean energy goals. Nuclear energy can play a role as a complementary energy source, not just to reduce carbon emission, but also to meet the goal of 100% clean energy. Nuclear energy also has a unique advantage in producing high temperature steam for electrolysis, which is an efficient way to create hydrogen gas. To explore this potential, the U.S. Department of Energy is funding a nuclear hydrogen hub, which will focus on researching and demonstrating hydrogen production with nuclear power. Finally, the speaker noted that the U.S. produces 20% of its electricity from nuclear power, while France produces 70%, highlighting the importance of nuclear power for energy security and grid stability.
When discussing grid stability and reliability, many questions arise regarding the balance between supply and demand. Nuclear energy is often described as firm energy, meaning it is reliable and dispatch-able, and can be turned on regardless of the weather conditions. This makes it an ideal complement to other clean energy sources such as solar panels and wind farms, which may not always be available. Nuclear power plants can supply electricity when the grid needs it, helping to balance out other renewable energy sources in order to meet overall energy goals.
Timestamps
0:00:02
Conversation with Patrick White, Project Manager at the Nuclear Innovation Alliance
0:02:12
Lead on Regulatory Modernization at the Nuclear Innovation Alliance
0:04:34
Exploring the Role of Nuclear Energy in Achieving Clean Energy Goals and Producing Hydrogen
0:09:06
Exploring the Benefits of Nuclear Energy for Grid Stability and Reliability
0:10:42
Exploring Energy Security and Nuclear Regulatory Challenges in the US
0:13:40
Exploring Flexible Power Operations for Nuclear Plants
0:17:16
Exploring Flexibility in Nuclear Power Plants to Meet Grid Demands
0:18:30
Heading: Exploring Nuclear Energy Solutions to Complement Renewable Sources
0:20:19
Exploring Generation Four Reactors: A Discussion on High Temperature Gas Reactors and Molten Salt Reactors
0:21:34
Heading: Advantages of High Temperature Gas Reactors (HTGRs) and Sodium Fast Reactors for Nuclear Energy
0:25:01
Exploring the Benefits of Sodium Fast Reactor Technology for Nuclear Power Generation
0:26:24
Exploring the Potential of Sodium Fast Reactors and Small Modular Reactors for Reducing Carbon Emissions
0:28:16
Exploring the...
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Alec Crawford welcomed Scott to the Stay Podcast to discuss sustainability, technology, artificial intelligence, and their impact around the world. Scott has had a long career in the environmental field, beginning with working as an environmental scientist for a chemical company, to managing environmental issues globally, and finally joining Trane Technologies to help work in refrigerants. Scott recently attended Davos and his takeaway was that every sector of the economy needed to help move towards a better future with improved sustainable practices and reduced emissions is now at the table. The conversation between the interviewer and the sustainability leader revolves around the concept of sustainability and how it is integral to the success of the company. The sustainability leader defines sustainability as being about who a company wants to be, and how they can continuously improve. Train Technologies has two major facets: HVAC systems and transport refrigeration. The sustainability leader is responsible for leading sustainability efforts and running the Center for Energy Efficiency and Sustainability. Sustainability is not just about environmental efforts, but is also about social work, how employees are treated, and the expectations of suppliers. Sustainability is about making sure the company is positioned for success in the future. Scott, the Sustainability Officer at Trane Technologies, discussed his team's role in designing products for the future and how sustainability is now interwoven with the purpose of the company. He highlighted their program called Operation Possible which encourages employees to think of ways to solve big societal issues, such as increasing access to fresh food. He also discussed his interactions with the CEO and the board, emphasizing that for companies that see sustainability as their business, the CEO, board, and leadership team are fully engaged on all sustainability efforts on a daily basis. Trane Technologies is serious about its commitments to reduce emissions, increase diversity and provide opportunity for all. These commitments are attached to the CEO and manager's compensation, showing how serious the company is. The board has also readjusted expectations, linking progress to ESG issues. The company has set leading commitments around gender parity, investing in STEM education and allowing employees to volunteer in their local communities. Employees are given paid time off to volunteer and the company matches their time with contributions to the organisations.
Timestamps
0:00:01
Scott Discusses Sustainability and Artificial Intelligence on the Stay Podcast
0:02:34
Discussion on Sustainability and Trane Technologies' Role in the Economy
0:07:18
Sustainability Governance and Interactions with the CEO and Board at Trane Technologies
0:12:40
Trane Technologies' Commitment to Emissions Reduction, Diversity, and Community Engagement
0:15:35
Trane Establishing the Firm's Sustainability Goals Through an Inclusive Global Process
0:17:24
Exploring Trane Technologies' Sustainability Strategy and Commitment to Transparency
0:19:12
Sustainability and ESG Disclosure Gaps Between the US and Europe
0:21:09
Exploring the Benefits of Next Generation Heat Pump Technologies
0:25:30
Examining Trade-Offs in Sustainability and Energy Efficiency During a Recession
0:26:57
Conversation on Reducing Greenhouse Gas Emissions and Addressing Societal Issues
0:29:11
Advice for New Chief Sustainability Officers: Materiality Assessments and Bold Public Commitments
0:32:15
Conversation with Sustainability Leader on Net Positive Impact and Engaging Employees
0:33:54
Interview with Scott Tew of Trane Technologies on Climate Change Solutions
Highlights
This has becomes a North Star for a new sustainability...
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Alec Crawford welcomes Bonnie Wongtrakool to the Stay podcast, a show about sustainability, technology, artificial intelligence, and the individual. Bonnie is a chartered financial analyst and the global head of ESG Investments and portfolio manager at Western Asset Management Co. and is joining Alec to discuss environmental, social and government (ESG) focused investing during Women's History Month. Bonnie explains how she came to ESG by happenstance, as she was previously working as a mortgage portfolio manager. After expressing her interest in something outside of mortgages, her senior management at Western Asset asked her to look into ESG, as they had been hearing about the need for more sustainable investments from international clients.
Western Asset Management is a global fixed income manager with $400 billion under management. Headquartered in Pasadena, California, they also have eight other offices around the world. Western Asset Management manages all types of fixed income, including multi sector mandates, absolute return, corporate only mandates, emerging market, dedicated bank loans, municipal bonds, mortgage backed securities, and asset backed securities. Their investment horizon is long term and they adopt a fundamental value active management approach. They also prioritize ESG, incorporating it into all their mandates to assess a security's intrinsic value. In 2017, the company recognized the trend of ESG and asked the speaker to lead the initiatives in the area.
Bonnie is the global head of ESG investments and a portfolio manager at WAMCO. Her role involves leading ESG initiatives such as research, engagements, and strategy while working with other groups within the firm such as client services, legal and compliance, and information technology. As a portfolio manager, she also manages broad sector portfolios.
When it comes to ESG investing, the process is integrated into the investment process from a bottom-up perspective. This includes research analysts creating ESG frameworks for each subsector and taking a forward-looking approach instead of relying on historical reported data. Additionally, the speaker and his team also engage with management to assess the governance pillar.
Bonnie acknowledges the difficulty of obtaining ESG information from smaller private companies, such as those issuing bank loans or high yield bonds. Despite this, they are still actively looking for ways to assess these companies and factor ESG into the investment process.
Information flow and sustainability have greatly improved in recent years, particularly through the LSTA's ESG questionnaire and increased investor interest. However, the data is still relatively basic and conversations with issuer management are necessary to get more detailed information. For agency mortgage backed securities, we assess the ESG risks and opportunities and give a generally positive rating. Fannie Mae and Freddie Mac have both started issuing green and social impact bonds in response to investor demand, and we take these into account when selecting investments for our clients. When communicating our ESG strategy to investors, we emphasize the importance of sustainability, the use of proceeds, the collateral, the issuer, and the servicer.
Timestamps
0:00:02
Heading: Interview with Bonnie Wongtrakool, Global Head of ESG Investments and Portfolio Manager at Western Asset Management Co.
0:02:08
Western Asset Management's ESG Initiatives
0:04:01
ESG Investing at WAMCO: A Conversation with the Global Head of ESG Investments
0:08:57
Exploring Information Flow and ESG Ratings for Corporate and Non-Corporate Fixed Income Securities
0:12:11
ESG Reporting and Climate Finance Challenges for Sustainable Investors
0:14:28
Conversation on Sustainable Investing and ESG Investing for Public...
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My name is Alec Crawford and this is STAY. A podcast about Sustainability, Technology, Artificial Intelligence, and YOU! I am discussing these issues with high profile guests in these fields every few weeks to give you important information that goes deeper than other sources. Find out answers to questions like can AI save the planet? How environmental social and government focused investing affects you, and how we can build a better, sustainable future together
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