ABL Chief Energy Transition Officer joins Bank of England panel
The Decision Maker Panel (DMP) was set up in August 2016 by the Bank of England, Stanford University and the University of Nottingham.
It provides direct insight into business expectations and uncertainty, for example Covid-19 and Brexit. The DMP draws information from UK companies, across a broad range of industries, and is designed to be representative of the population of UK businesses.
ABL are pleased to announce that Dr RV (Ahilan) Ahilan FREng, Chief Energy Transition Officer of ABL Group has been invited to join the Decision Maker Panel. At the present time inflation and interest rates are creating major uncertainty to which the Bank of England is responding, aided by the intelligence gathered from businesses. This helps policymakers understand what is going on at ground level and in a timely manner.
“We are incredibly proud of the opportunity to represent the energy sectors in these times and actively contributing to the Bank’s decision making in a timely manner. The Energy industry is of course crucial to the fortunes of UK plc and therefore we congratulate the Bank of England on this initiative to secure data and sentiment that can drive economic performance” Dr RV (Ahilan) Ahilan FREng, Chief Energy Transition Officer, ABL Group.
All the ABL UK businesses are contributing to this effort through Jorge Ordonez (Finance Director, ABL Europe & West Africa) and Mark Redpath (Finance Director, OWC) representing the Energy sectors – both Oil & Gas and Renewables. The two sectors are facing quite distinctly different challenges and opportunities after the rebound from COVID19, the war in Ukraine and the Israel-Hamas war.
The intelligence that we have been contributing relate to how the political and macroeconomic conditions are affecting our sales, our prices and capital expenditure including commenting on this data pre and post Brexit and year-on-year performance.
ABL’s industry is immersed in one of the biggest challenges facing humanity – climate change – and their objective is to help their clients navigate the energy transition in maritime, renewables and oil & gas.
