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USC Marshall Launches Business of Energy Transition Initiative

USC Marshall Launches Business of Energy Transition Initiative

Gift supports new initiative to advance research, experiential learning, and strategic partnerships related to the role of business in transitioning to sustainable energy systems.

by: Sabrina Skacan
10.02.23
Color photograph of USC Marshall professor Shon Hiatt and another color photograph of a windfarm.

Shon Hiatt will direct the new Business of Energy Transition Initiative.

Featured

  • Shon R. Hiatt

    Shon R. Hiatt
    • Director of Business of Energy Transition Initiative
    • Associate Professor of Management and Organization
  • Geoffrey Garrett

    Geoffrey Garrett
    • Dean, USC Marshall School of Business
    • Robert R. Dockson Dean's Chair in Business Administration
    • Professor of Management and Organization

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Despite widespread political commitments by countries around the world to dramatically reduce their carbon emissions, the transformation of global energy from hydrocarbons to renewables is a daunting challenge that will require enormous private-sector innovation. To help meet this challenge, the USC Marshall School of Business is launching the Business of Energy Transition (BET) initiative that will propel the creation and adoption of sustainable energy around the world.

BET, directed by Management and Organization Professor SHON HIATT, will bring together business leaders, faculty experts, and students to spearhead innovative research, teaching, and thought leadership on arguably the most important challenge of the 21st century. In addition to creating new coursework on the business of energy at the undergraduate and graduate levels, the initiative will provide real-world learning opportunities and career pathways for students focused on the energy transition as well as support postdoctoral researchers.

We need a pragmatic take on affordable, reliable, and cleaner energy in the 21st century. This initiative will identify obstacles, recognize the trade-offs, and shape the future of energy through business innovation and entrepreneurship.

— Shon Hiatt

DIRECTOR, BUSINESS OF ENERGY TRANSITION INITIATIVE

USC Marshall received a generous gift from a founding donor, as well as catalytic seed funding from Darpan Kapadia and Erica Olan, to launch this new initiative.

“The transition to sustainable energy requires interdisciplinary, cross-generational, and public-private sector collaboration,” said the founding donor. “We are excited to support an initiative that creates opportunities for students, faculty, and industry to work together for the betterment of people all around the world.”

The initiative will host an annual USC Marshall Energy Summit, with the inaugural event scheduled for Fall 2024. This conference, made possible through the support of the Kapadia Family Sustainability Fund, will assemble business executives, policymakers, faculty experts and students to discuss and explore energy transition issues and ideas.

“Developing a cleaner, reliable, and affordable energy ecosystem is one of the great challenges of our time,” said Darpan Kapadia. “From government agencies to corporations to individuals, this initiative will help bring together the people, thought leadership, and resources required to help advance this important objective.”

The initiative is an important addition to Marshall’s growing portfolio of activities focused on the BUSINESS OF SUSTAINABILITY.

“BET will help advance USC President Carol L. Folt’s SUSTAINABILITY 'MOONSHOT' positioning USC as a global leader in sustainable practices, research, and learning,” said DEAN GEOFF GARRETT. “We are grateful for our donors’ generosity and vision in supporting Marshall faculty and students to shape a future for sustainable energy that is affordable, accessible, and above all, achievable.”

The BET initiative’s mission is to create a talent pipeline of leaders who not only have a passion for mitigating climate change but also have the practical knowledge and expertise to make investment and business decisions essential to the successful transition to lower emission energy.

“This initiative will help us engage and equip future leaders to develop real-world, actionable, and practical approaches to energy,” Hiatt said. “We need a pragmatic take on affordable, reliable, and cleaner energy in the 21st century. This initiative will identify obstacles, recognize the trade-offs, and shape the future of energy through business innovation and entrepreneurship.”

The BET initiative joins USC Marshall’s growing network of institutes, centers and initiatives dedicated to innovative research and teaching, analysis and thought leadership, and collaborations with business on pressing issues such as GLOBAL SUPPLY CHAINS, RISK MANAGEMENT, ETHICS OF TECHNOLOGY, DIGITAL ASSETS, and DIGITAL COMPETITION.

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