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The first point to make is that a collective effort is needed from industry, consumers and government if the world is to succeed in achieving net zero.

If we then look at industry alone, it could be more successful if it had a clear mission: electrify as much as possible, make it renewable as much as possible, seize opportunities to remove the carbon dioxide in the atmosphere, for example by direct air capture, and use carbon capture and storage (CCS) to create things like low-carbon hydrogen.

The world is going to have to electrify an awful lot more sources of power than it previously has. This electricity can then be provided as zero carbon from renewables or from nuclear or, indeed through other sources.

But it will ultimately become inefficient to use a source of energy, a “fuel”, to create electricity. This is when the world will need a next-generation energy step: the development of low-carbon molecular solutions that can power, be shipped, or be stored over long time periods.

An obvious alternative to hydrocarbons in the longer term is hydrogen and in the short term it’s biofuels. The world also needs to work towards the development of low-carbon hydrogen, and this means having to push on with CCS.

The fight against climate change is urgent. In the absence of clear signals from the demand side, the danger is the tendency to keep adding to the possibilities.  The world should focus on what solutions will get society as far along the way to net zero as possible, such as renewables, biofuels, hydrogen, and CCS.

It is hard to see how the world can both decarbonise and deliver a big increase in energy supply so that less energy-rich people can enjoy opportunities for development, without the continued use of oil and gas. If the world stops using oil and gas too quickly, the reality is that energy will become much more expensive. This will delay the development of those countries which need to enjoy access to affordable energy that other countries, like those in Europe, have taken for granted for most of the last 100 years.

The good news is that the world can continue to become more prosperous by using oil and gas, while investing in low-carbon energy sources and working to decarbonise sector-by-sector. That prosperity will increase energy demand, and low-carbon products can supply the increase in demand. Society can also increasingly use fossil fuels that produce less carbon when they are burned or extracted.

People must also think about how to use less energy and this can come about through innovation and efficiencies. People can make lifestyle choices and stop doing certain things that are very energy intensive. When it comes to the sectors that are hard to decarbonise, CCS and direct air capture will potentially become very important.

Looking at how the energy transition is progressing, what more do you think needs to be done by governments, business, and society?

While collective action will get the world to net zero faster, society and business shouldn’t wait for governments to shape the future. To help tackle climate change, Shell needs to maintain the conviction to make things happen. We must do this with innovation and where our weight can have an impact.

Some things are more obviously within our skill set than others. We first need to understand what can help make our customers transition quicker and then determine how we can continue to satisfy their need for affordable, reliable, and convenient energy, with less and less carbon.

Shell has to be selective in how we help the world to decarbonise. We must work incredibly hard to ensure that what we do passes the tests of shareholder return, customer satisfaction and low-carbon emissions.

Can workers in the oil and gas industry expect to develop new careers in the renewables industry using their traditional skills?

Up to a point. There are areas that traditional oil and gas businesses know about and that they are good at. The skills that our people have obtained working on deep-water platforms can be helpful to the building of offshore wind farms. What our reservoir engineers have learned can be applied to carbon capture and storage, and our traders are already working out how they would trade green electrons. Then, there are some clean, green energy areas where it may be prudent to invest in developing new skills.

One thing I am struck by is the strength of the intellect that exists at Shell. I am incredibly privileged to work alongside such talented and bold people. People who are not afraid to think outside the box and face challenges head on. I firmly believe that Shell’s people have a real and honest commitment to the energy transition. I admire that greatly. 

Purpose also provides a long-term perspective for profitability in this fast-moving world. We need to have purpose with longevity. We must accept that we do not manage our strategy only for today's shareholders, but also for tomorrow’s shareholders.

You have decades of experience in the mining and energy industries. What have you learned about the best way to do business?

Large companies are huge engines of human progress. Over my career I have learned that success cannot be measured by profit alone. Instead, we must understand what works for the people involved, for society at large. You have to be open to both the emotional choices and to the technocratic ones.

I believe in tolerance and open discussion when it comes to the best way of doing business. Of course, there are extreme opinions within society, and they can inform debate provided they are delivered in the manner that allows everyone to be heard. I’m not that interested in reopening debates that introduce points of view that risk taking society back to the Dark Ages. To take one obvious example, there is no need for further debates about the equality of the sexes. People should just regard equality as a given and move on with trying to get the system fixed to reflect this.

I sense from people I talk to at Shell a feeling of genuine positivity. This I admire because it’s what we need within Shell and within the world as a whole.

There was also the CEO succession of Ben van Beurden to Wael Sawan. This was one of the smoothest corporate succession processes that I have ever been part of. To use a sporting analogy, it was like being on the coaching staff of a football team and losing your captain. Looking at the strength of your bench, you realise you have multiple excellent choices to replace them. The bench developed by Ben and Shell was powerful and that is the right word to use. The Board’s options were fantastic. We could sit back objectively and select from these options the person we believed Shell needed at this time to keep the team driving forward.

What most shaped the direction of your career at the start?

In 1982, I was very fortunate when I didn’t get an academic job and went to BP instead. So many people advised me against the move, saying that I would be happier and more fulfilled if I pursued academia. That was very bad advice, and I am glad I never took it.

How important to you are equality and diversity in the workplace?

In 2016, my belief in equality was re-established when, as CEO, I committed BHP to gender balance. The mining industry has one of the lowest percentages of women in its workforce. Looking into gender balance at the time, I became fixated and committed to it. I realised there was not only a moral imperative to change but also a commercial one because inclusive and diverse workplaces perform better. I was never anti-feminist, but this experience made me a staunch feminist because I saw how much good it did for BHP and how much good it could do for the world.

One of the fiercest debates currently is whether artificial intelligence (AI) is a threat to humanity, or a wonderful tool that will revolutionise our lives in a good way. What are your views on this?

The development of artificial intelligence was inevitable. But I do think society as a whole needs to be more thoughtful about how to handle AI and how to regulate it.

Ultimately, I think AI should be a good thing. AI tries to accumulate the past knowledge that human beings have created and make that more accessible to everybody. It should be seen as a tool that will help make people better at what they do. Shell already makes use of AI, particularly in how we maintain the reliability of our assets.

One book I thoroughly enjoyed is “Timefulness: How Thinking Like a Geologist Can Help Save the World” by Marcia Bjornerud. I am a geologist and I just feel that more people should read this so that they can have a better appreciation of the planet we live on. So few people really understand what’s underneath our feet.

Recently, I read “Invent and Wander: The Collected Writings of Jeff Bezos”. I've listened to him talk in the past and when he shares his views on life, I think he's definitely got something to say. He is a very clever guy.

If you could be anywhere right now, where would you like to be?

I have travelled all over the world and enjoyed it. I love seeing different places, but I don’t enjoy the travel as much as I used to. I have become quite happy being at home. So I would like to be at home in our kitchen in London, talking with my wife.

What would you tell your younger self if you met him today?

About the importance of the life and work balance. I’d tell him that it’s okay to be super ambitious and work hard. But also, that he shouldn’t work too hard because he won’t get it all done anyway and he should therefore not prioritise work over family.

I’ve been very fortunate to have a good work ethic and quite a sunny disposition. So I would tell myself that it was possible to fulfil all my ambitions by being a bit more selective. I would probably have got to a similar place today without doing absolutely everything I felt I had to. There are several family things I missed out on because of work stuff – stuff that in the end didn’t really matter. I will never be able to do the family things that I missed and so my advice to the younger me would be: pick your priorities carefully, and put family first.