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The Hidden Joule | A conversation with Steve Keene, Ph.D

11 November 2020 in Sustainability
 

Episode 3: A conversation with Steve Keene, Ph.D

In this episode, we chat with with Steve Keene, Ph.D in Economics, on  why viewing Energy as the lens by which to view our economic systems may just provide some of the answers to both our financial, social, and environmental systems.  

Key discussion topics: 

  • Why we cannot ignore Energy as a primary input in our Economic systems.  Labor without energy is a corpse and capital without energy is a sculpture.  So why do we treat energy as an immaterial input in our Neo Classical systems? 
  • How Energy Return on Energy Invested (EROI) represents a scaling tool to measure primary energy sources and how this may fit into our complex energy and economic systems. 
  • We breakdown a company’s life cycle and limitations of traditional analysis (DCF, IRR) and how it cannot be disconnected from evaluating company’s impact on the physical world (CO2 footprint, EROI, sustainability footprint). 
  • The role of concentrated vs diffused energy resources on wealth creation and how to balance in the context of negative externalities such as Green House Gases (GHG). 


About the Hidden Joule Podcast

The Hidden Joule Podcast is our return to science and conversation. Our goal is to leverage our extensive network of thought leaders, investors and companies to facilitate conversation around prickly topics such as Climate Change, Human Evolution and Behavior, System Complexity, Technological Progress, Allocation of Resources, Scale and Growth. With the responsibility of the Sustainability/ESG practice at Canaccord Genuity, we feel a moral obligation to address these key issues as we begin to shift from shareholder returns to broader stakeholder returns. We believe that in order for the ESG investment framework to be successful, a high level of scientific rigor and discussion must be applied and utilized. We believe that the availability of different resources (including financial) shape the future of companies and economies. Further, investment criteria and decision-making processes for ESG will be a critical component influencing corporate behavior and governing policies in our shared future society.

Photo of Jed Dorsheimer

Jed Dorsheimer

Managing Director, Sustainability

Jonathan (Jed) Dorsheimer serves as a Senior Equity Analyst at Canaccord Genuity, responsible for the Sustainability/ESG sector, which he co-founded in 2000. Jed’s focus on systems analysis, combined with applying the Natural Physical Laws of Thermodynamics, has resulted in a truly differentiated and often contrarian view of value creation. This unique approach has led to identification of secular trends that we now define as smartphones, LEDs, and EVs to name a few. Currently, Jed’s focus is on increasing awareness of what is truly green vs green paint in allocation of resources within Sustainable and Impact investment strategies. Jed has served the United States Department of Energy, under the 44th President, Barack Obama, and Vice President of Commercial Office and Corporate Development at Acuity Brands prior to his current role at Canaccord Genuity.

 


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