Signify – Signify names As Tempelman as Chief Executive Officer

EMR Analysis

More information on Signify: See the full profile on EMR Executive Services

More information on Gerard van de Aast (Chairman of the Supervisory Board + Chair of the Nomination & Governance Committee + Member of the Remuneration Committee, Signify): See the full profile on EMR Executive Services

More information on Željko Kosanović (Member of the Board + Chief Financial Officer + Senior Vice President, Group Controller, Signify + Interim Chief Executive Officer, Signify till September 1st, 2025): See the full profile on EMR Executive Services

More information on As Tempelman (Chief Executive Officer, Eneco till September 1st, 2025 + Member of the Board + Chief Executive Officer, Signify as from September 1st, 2025): See the full profile on EMR Executive Services

More information on Eneco: https://www.eneco.nl/en/about-us/ + Eneco is an integrated, independent and growing international energy company. We operate in the Netherlands, Belgium, Germany and the United Kingdom. Eneco’s head office is located in Rotterdam. Based on our mission ‘everyone’s sustainable energy’, we help consumers and companies switch to sustainable energy. 

We have been active in the energy sector for over 100 years. Eneco’s roots go back to the 19th century. At that time, gas and electricity were produced on a ‘large’ scale for the first time and local energy companies were established. These local energy companies grew larger and merged in the 20th century. After a history of cooperation and mergers between the municipal utility companies of Rotterdam, The Hague and Dordrecht, the current Eneco was created in 1995.

Eneco is an integrated and independent Dutch energy company. Its shareholders are Mitsubishi Corporation (80% and Chubu (20%). Eneco’s shareholders fully support the sustainable strategy and contribute to further national and international growth.

More information on As Tempelman (Chief Executive Officer, Eneco till September 1st, 2025 + Member of the Board + Chief Executive Officer, Signify as from September 1st, 2025): See the full profile on EMR Executive Services

More information on Shell: https://www.shell.com/ + Shell is a global group of energy and petrochemical companies, employing 103,000 people and with operations in more than 70 countries. We serve more than 1 million commercial and industrial customers, and around 33 million customers daily at more than 47,000 Shell-branded retail service stations. Our purpose is to power progress together by providing more and cleaner energy solutions. 

We serve more than 1 million commercial and industrial customers, and around 33 million customers daily at our Shell-branded retail stations.

We have activities ranging from oil and gas exploration and production to the marketing of fuels and lubricants, and research and development. We are increasingly offering our customers lower-carbon energy solutions, including electric-vehicle charging, biofuels, hydrogen and carbon capture and storage.

More information on Wael Sawan (Chief Executive Officer, Shell): https://www.shell.com/who-we-are/leadership/executive-committee.html + https://www.linkedin.com/in/wael-sawan/ 

EMR Additional Notes: 

• Carbon Dioxide (CO2):
  • Primary greenhouse gas emitted through human activities. Carbon dioxide enters the atmosphere through burning fossil fuels (coal, natural gas, and oil), solid waste, trees and other biological materials, and also as a result of certain chemical reactions (e.g., manufacture of cement). Carbon dioxide is removed from the atmosphere (or “sequestered”) when it is absorbed by plants as part of the biological carbon cycle.
• Biogenic Carbon Dioxide (CO2):
  • Biogenic Carbon Dioxide (CO2) and Carbon Dioxide (CO2) are the same. Scientists differentiate between biogenic carbon (that which is absorbed, stored and emitted by organic matter like soil, trees, plants and grasses) and non-biogenic carbon (that found in all other sources, most notably in fossil fuels like oil, coal and gas).
• Decarbonization:
  • Reduction of carbon dioxide emissions through the use of low carbon power sources, achieving a lower output of greenhouse gasses into the atmosphere.
• Carbon Footprint:
  • There is no universally agreed definition of what a carbon footprint is.
  • A carbon footprint is generally understood to be the total amount of greenhouse gas (GHG) emissions that are directly or indirectly caused by an individual, organization, product, or service. These emissions are typically measured in tonnes of carbon dioxide equivalent (CO2e).
  • In 2009, the Greenhouse Gas Protocol (GHG Protocol) published a standard for calculating and reporting corporate carbon footprints. This standard is widely accepted by businesses and other organizations around the world. The GHG Protocol defines a carbon footprint as “the total set of greenhouse gas emissions caused by an organization, directly and indirectly, through its own operations and the value chain.”
• CO2e (Carbon Dioxide Equivalent):
  • CO2e means “carbon dioxide equivalent”. In layman’s terms, CO2e is a measurement of the total greenhouse gases emitted, expressed in terms of the equivalent measurement of carbon dioxide. On the other hand, CO2 only measures carbon emissions and does not account for any other greenhouse gases.
  • A carbon dioxide equivalent or CO2 equivalent, abbreviated as CO2-eq is a metric measure used to compare the emissions from various greenhouse gases on the basis of their global-warming potential (GWP), by converting amounts of other gases to the equivalent amount of carbon dioxide with the same global warming potential.
    • Carbon dioxide equivalents are commonly expressed as million metric tonnes of carbon dioxide equivalents, abbreviated as MMTCDE.
    • The carbon dioxide equivalent for a gas is derived by multiplying the tonnes of the gas by the associated GWP: MMTCDE = (million metric tonnes of a gas) * (GWP of the gas).
    • For example, the GWP for methane is 25 and for nitrous oxide 298. This means that emissions of 1 million metric tonnes of methane and nitrous oxide respectively is equivalent to emissions of 25 and 298 million metric tonnes of carbon dioxide.
• Carbon Capture and Storage (CCS) – Carbon Capture, Utilisation and Storage (CCUS):
  • CCS involves the capture of carbon dioxide (CO2) emissions from industrial processes. This carbon is then transported from where it was produced, via ship or in a pipeline, and stored deep underground in geological formations.
  • CCS projects typically target 90 percent efficiency, meaning that 90 percent of the carbon dioxide from the power plant will be captured and stored.
• Carbon Dioxide Removal (CDR): 
  • Carbon Dioxide Removal encompasses approaches and methods for removing CO2 from the atmosphere and then storing it permanently in underground geological formations, in biomass, oceanic reservoirs or long-lived products in order to achieve negative emissions.
• Direct Air Capture (DAC): 
  • Technologies extracting CO2 directly from the atmosphere at any location, unlike carbon capture which is generally carried out at the point of emissions, such as a steel plant.
  • Constraints like costs and energy requirements as well as the potential for pollution make DAC a less desirable option for CO2 reduction. Its larger land footprint when compared to other mitigation strategies like carbon capture and storage systems (CCS) also put it at a disadvantage.
• Carbon Credits or Carbon Offsets:
  • Permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one ton of carbon dioxide or the equivalent in other greenhouse gases.
  • The carbon credit is half of a so-called cap-and-trade program. Companies that pollute are awarded credits that allow them to continue to pollute up to a certain limit, which is reduced periodically. Meanwhile, the company may sell any unneeded credits to another company that needs them. Private companies are thus doubly incentivized to reduce greenhouse emissions. First, they must spend money on extra credits if their emissions exceed the cap. Second, they can make money by reducing their emissions and selling their excess allowances.

• Global Warming: 
  • Global warming is the long-term heating of Earth’s climate system observed since the pre-industrial period (between 1850 and 1900) due to human activities, primarily fossil fuel burning, which increases heat-trapping greenhouse gas levels in Earth’s atmosphere.
• Global Warming Potential (GWP): 
  • The heat absorbed by any greenhouse gas in the atmosphere, as a multiple of the heat that would be absorbed by the same mass of carbon dioxide (CO2). GWP is 1 for CO2. For other gases it depends on the gas and the time frame.
  • Carbon dioxide equivalent (CO2e or CO2eq or CO2-e) is calculated from GWP. For any gas, it is the mass of CO2 which would warm the earth as much as the mass of that gas. Thus it provides a common scale for measuring the climate effects of different gases. It is calculated as GWP times mass of the other gas. For example, if a gas has GWP of 100, two tonnes of the gas have CO2e of 200 tonnes.
  • GWP was developed to allow comparisons of the global warming impacts of different gases.
• Greenhouse Gas (GHG):
  • A greenhouse gas is any gaseous compound in the atmosphere that is capable of absorbing infrared radiation, thereby trapping and holding heat in the atmosphere. By increasing the heat in the atmosphere, greenhouse gases are responsible for the greenhouse effect, which ultimately leads to global warming.
  • The main gases responsible for the greenhouse effect include carbon dioxide, methane, nitrous oxide, and water vapor (which all occur naturally), and fluorinated gases (which are synthetic).

• GHG Protocol Corporate Standard Scope 1, 2 and 3: https://ghgprotocol.org/ + The GHG Protocol Corporate Accounting and Reporting Standard provides requirements and guidance for companies and other organizations preparing a corporate-level GHG emissions inventory. Scope 1 and 2 are mandatory to report, whereas scope 3 is voluntary and the hardest to monitor.
  • Scope 1: Direct emissions:
    • Direct emissions from company-owned and controlled resources. In other words, emissions are released into the atmosphere as a direct result of a set of activities, at a firm level. It is divided into four categories:
      • Stationary combustion (e.g fuels, heating sources). All fuels that produce GHG emissions must be included in scope 1.
      • Mobile combustion is all vehicles owned or controlled by a firm, burning fuel (e.g. cars, vans, trucks). The increasing use of “electric” vehicles (EVs), means that some of the organisation fleets could fall into Scope 2 emissions.
      • Fugitive emissions are leaks from greenhouse gases (e.g. refrigeration, air conditioning units). It is important to note that refrigerant gases are a thousand times more dangerous than CO2 emissions. Companies are encouraged to report these emissions.
      • Process emissions are released during industrial processes, and on-site manufacturing (e.g. production of CO2 during cement manufacturing, factory fumes, chemicals).
  • Scope 2: Indirect emissions – owned:
    • Indirect emissions from the generation of purchased energy, from a utility provider. In other words, all GHG emissions released in the atmosphere, from the consumption of purchased electricity, steam, heat and cooling. For most organisations, electricity will be the unique source of scope 2 emissions. Simply stated, the energy consumed falls into two scopes: Scope 2 covers the electricity consumed by the end-user. Scope 3 covers the energy used by the utilities during transmission and distribution (T&D losses).
  • Scope 3: Indirect emissions – not owned:
    • Indirect emissions – not included in scope 2 – that occur in the value chain of the reporting company, including both upstream and downstream emissions. In other words, emissions are linked to the company’s operations. According to GHG protocol, scope 3 emissions are separated into 15 categories.