Wood Mackenzie names ex-UN economist as head of carbon to spearhead energy transition services

Energy intelligence group Wood Mackenzie (WoodMac) has appointed a previous United Nations’ (UN) economist as the head of its carbon team to help the firm’s customers navigate the energy transition challenges and requirements.

Wood Mackenzie announced the appointment of Elena Belletti as Head of Carbon Research within the company’s Energy Transition Practice on Monday. This is a newly expanded role at the company. Belletti will lead a team of five and respond to the customers’ demands for services, tools and intelligence to help them through the energy transition, according to Wood Mackenzie.

Jonny Sultoon, Head of Markets & Transitions, Energy Transition at Wood Mackenzie, remarked: “Carbon and wider greenhouse gas emissions are a strategic focus for a growing number of clients in all industries. Elena’s appointment is particularly timely post-COP26, as governments have renewed or announced pledges to reduce both carbon and methane emissions to mitigate climate change, and industry and government will have to work collaboratively to align with these national commitments.”

Belletti is based in Madrid and is joining from the United Nations (UN) Headquarters, where she had worked since 2015, most recently as an economist in the office for financing sustainable development. She was the focal point on taxation and climate at the UN.

Belletti advised senior government officials from low-income countries on the development of policies that generate revenues while protecting the environment. She also focused on carbon pricing and on the role of taxation in attaining environmentally-related sustainable development goals (SDGs). Prior to this, she was an economist for Palantir Economic Solutions and an advisor at Eni.

“Elena brings a cross-cutting understanding of the issues and governmental dynamics as well as stakeholder management experience. She is ideally suited to lead our carbon team,” added Sultoon.

Wood Mackenzie explained that Belletti’s new role would include the assessment and mitigation of customers’ carbon emissions and an understanding of the fast-changing landscape around carbon mechanisms.

Elena Belletti, Wood Mackenzie’s new Head of Carbon Research, commented: “It is an exciting time to join Wood Mackenzie’s growing Energy Transition Practice. There is increasing demand from clients for data and support on all aspects of carbon, from emissions, price markets and mechanisms and voluntary markets to nature-based solutions, mechanical carbon removal and more. I look forward to working with such a talented team as we help clients achieve a fair energy transition.”

Earlier this year, Wood Mackenzie claimed that the energy transition represents $14 trillion worth of uncertainty for upstream oil and gas.

According to the firm, oil demand may continue to grow for another decade or more, however, if the world acts decisively to limit global warming to 2°C by 2050, oil demand and prices would fall rapidly later this decade while the gas demand and price would be more resilient.