Tony Fountain is Chairman of Nayara Energy, headquartered in Mumbai, India - a large oil and chemical company.
He has 35 years of experience in the industry, he was previously CEO of Refining and Marketing in Reliance Industries and had a 25 year career, focused on the downstream, in BP. He has also worked as Chairman - Sellafield Ltd, a leading organization responsible for the clean-up and safe operation of the most iconic nuclear site in the world.
India faces dual challenges of energy security and energy sustainability. The government has committed to a lower carbon future in its COP 21 commitments, with ambitious targets for renewable energy, energy efficiency, and afforestation. India is already seeing impact of changing climate with changing patterns for the monsoon, more draughts and flooding. At the same time, economic growth requires more energy. What systemic changes need to be implemented to increase the penetration of low-carbon sources of primary energy? Are there strategies that fast-growing nations like India can learn from the mature European and North American markets in areas such as deregulation, competitive pricing, market liberalization, climate policy, and carbon markets? Where can India make the biggest gains in emissions reductions? What incentives are needed to stimulate private investment in solutions and R&D? Is a domestic carbon price necessary?