Summer often invites simple stories. Heroes. Villains. Saints. Sinners. Sustainability debates often do exactly the same. We look for the companies that deserve to be celebrated and those that should be blamed. But what if that is precisely the wrong question?
In our conversation "Responsible Leadership in an Uncertain World", held as part of Lisbon Sustainability Week on June 30, we deliberately addressed what many would call “the elephant in the room”: we invited the chief executive officer of an oil and gas company to take part in a sustainability conference, Sílvia Barata of BP Portugal. It was a very important conversation for several reasons. Perhaps the first is the fact that these types of companies are often excluded from the “club” when it comes to discussing sustainability.
But if the energy transition depends heavily on the transformation of the world’s highest emitting industries, should those not be precisely the companies we are most interested in engaging with?
Instead of asking whether BP belongs among the “saints” or the “sinners,” the conversation raised a much more relevant question: what is required, in practice, for a company to undergo a genuine transition today? What is this company doing? Is it truly striving to change, or is it merely making a profit while continuing to contribute to a problem that affects us all?
One message was particularly clear: the transition is not a straight line, Sílvia explained. It is an ongoing exercise in balancing long-term ambition with present realities. Energy security, geopolitical tensions, shareholder expectations, infrastructure constraints, and consumer demand all shape the pace of change. Companies cannot invest in everything at the same time. They must set priorities, build partnerships, generate the cash flows that fund future investments and current operations, and accept that much of the progress they make will never be visible externally. The transition, in other words, is far more complex and far less linear than public debate often suggests.
Sílvia spoke clearly about BP’s efforts, including investments in biofuels, biogas, charging infrastructure for electric vehicles, hydrogen, and renewable energy partnerships, as well as the progress made in reducing operational emissions and water consumption. She was equally transparent about the challenges: lengthy permitting processes, infrastructure constraints, geopolitical instability, shareholder pressure, the lower profitability of low carbon investments, and the difficult task of reconciling present energy needs with future decarbonization ambitions.
Perhaps the most uncomfortable reflection was this: companies are expected to accelerate the transition while continuing to operate in a financial system that still rewards short term returns more than long term transformation. As Sílvia Barata argued, there remains a clear misalignment between the pace of transition demanded of companies and the way capital markets continue to value them. We celebrate ambitious commitments, but rarely acknowledge the efforts, tradeoffs, and difficult choices associated with them. We demand transformation while simultaneously expecting flawless short term financial performance. This expectation is often unrealistic and can make companies particularly vulnerable in an unforgiving capital market.
Even so, this conversation was a refreshing moment, in which difficult topics could be addressed openly and constructively. We were able to gain a better understanding of how a company like BP is persistently working on its transition by decarbonizing its current operations and investing in alternative energy solutions, and why it is equally important to support leaders seeking to bring about that change.
The conversation began with a universal message from Jesus Christ: I came for sinners, not saints[1]. He was one of the greatest leaders in history and helped transform the world. All great leaders share certain qualities: knowing how to listen and act. Perhaps we can draw an important lesson from this: listen more to those we currently consider “sinners,” so that, together, we can build the progress and prosperity humanity so greatly needs.
Therefore, perhaps this summer we should stop asking who the saints are and who the sinners are. The future of sustainability will probably depend less on finding perfect companies and more on creating the conditions for imperfect companies to change. Responsible leadership rarely means being highly virtuous. Much more often, it means being honest and humble, making difficult decisions, explaining them transparently, and continuing on the path even when there are no easy answers, and when everyone criticizes us.
A toast to all the sinners and saints who, this summer, will rest so that they can return stronger and continue to generate an even more positive impact through their lives.
Watch the full conversation HERE.
I wish you an excellent week and a truly impactful summer!
Filipa Pires de Almeida, Executive Director do Center for Responsible Business and Leadership da Católica-Lisbon SBE