The HC Commodities Podcast

The mining sector faces powerful forces that are both disrupting it and creating opportunity. Customers are demanding greater transparency, while the energy transition continues to impact the entire supply chain. To maintain a competitive edge, mining businesses must adapt - reviewing everything from operational capability, to how they market and trade, and their culture and talent. In this episode, Oliver Wyman partner Roland Rechtsteiner takes us into the boardrooms of the world’s largest miners to evaluate their changing environment and the disruptive decisions they face. What will the miner of the future look like and what are the characteristics of the winners? To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode we talk with author Owain Johnson, on his recently published book, 40 Classic Crude Oil Trades. A unique window into the world of oil trading and the traders that drive the markets. The book is a collection of forty trades, contributed by the traders themselves, which span the breadth and scope of oil trading. Owain walks us through four of the best stories, as well as why he decided to write the book and what he learned in the process about what makes a trader successful and common attributes they share. Owain has spent twenty years in the industry and is a Managing Director at the CME Group and heads global research. The book is published by Routledge and available in all good book retailers. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Over the past 50 years, nuclear’s share of global power generation has consistently failed to meet predictions. Now installed capacity is declining and the fleet is aging. Why? Have we seen “peak nuclear”? And what are the consequences for the power markets? Now, many see nuclear as having a key role to play in the energy transition, especially with the concept of Small Modular Reactors. Will this too fail to meet expectations? In this episode we look at the economics, technology and policy environment that has led to the stark gap between expectations of both, industry and the public, and the reality. Our guest is Mycle Schneider, an independent nuclear policy analyst and advisor to governments, parliamentarians, think tanks, and the media. Mycle is the coordinator and publisher of the annual World Nuclear Industry Status Report (WNISR). To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

PPAs unlocked the power of renewables leading to the sectors incredible rise over the past decade. These long term agreements, primarily selling the power to utilities, provided the foundation for a whole slate of new developers to create wind and solar farms across Europe and US. Everything worked well in a decade of low prices and low volatility. Then came 2021 and these long term PPAs created an existential risk to certain participants. Utilities have faced huge margin calls to manage their exposure to hedged PPAs warehoused on their balance sheets. What is the history of the PPA? What do the events of 2021 mean for the PPA going forwards? How will their structure and tenure change in response? And what will it do to the appetite of buyers and what will that mean for the renewable power industry? Our guest is Werner Trabesinger, Head of Quantitative Analytics at Pexapark, a software company enabling market players to sell, manage and buy renewable power. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Fertilizers sit at the very heart of the commodities world. Their components are both mined and derived from hydrocarbons while their use underpins the agri sector. A truly global commodity but dominated by a handful of producers and traders. After a decade of low prices, last year saw prices quadrupled driven by energy price rises, shipping disruption and demand increase. What is the market structure? What does this all mean for market participants? Will fertilizers finally get a vibrant derivatives market? How will governments react to a prolonged price increase? What technologies might disrupt this sector? Our guest is Andres Santacruz, Head of Business Development for Fertilizers, Latin America and 10 year veteran in fertilizer trading. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this special end of year episode, host Paul Chapman reviews some of the major themes of 2021 covered in the podcast and comments on the plans for 2022. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Ukraine was the breadbasket and the energy engine for the Soviet Union. It was also the main energy transit route connecting the East to Europe. Now, after years of underinvestment in production it faces an energy deficit, and due to the uncertain political and security environment its role of gas transistor is rapidly disappearing. How can Ukraine meet its energy shortfall? What is the opportunity to invest in the Ukraine in this sky high energy price environment? What is the political environment inside the country and what do Ukrainians make of the Russian threat. To give us an independent overview of Ukraine and its energy sector is Robert Bensh. Robert is an independent oil and gas executive with 20 years experience operating in Ukraine. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

There is a fundamental mismatch between forecasted demand and supply for those metals vital for energy transition and EVs. What are the supply challenges? And what are the solutions, if stated goals and public demand are to be met? What roles will policy, investment and market solutions play and how can the metal producers, traders and consumers prepare and profit from what will undoubtedly be one of the biggest stories in commodities over the next decade. Our guest, Chris Berry, founder of House Mountain Partners, a battery metal advisory firm, takes on this challenging subject.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Technology is revolutionizing agriculture and its markets. Over the last two decades, rapid strides have been made in the business of farming. Genetics is de-commoditizing crops; in the future, constituent yields of oils and proteins will be far more likely to drive pricing than crop itself. Automation of planting, plant care and harvesting is boosting yield. Both technologies are tackling sustainability and driving the drastic reinvention of farm equipment and practices. At the heart of all this lies data. Across the globe, planting and yield data is being collected, uploaded and analyzed. How this data is owned and used could transform the agri commodity markets. Think crop reports on a real time, global basis. To guide us through this quiet revolution is Barrett Barr, Global Head of Business Development, Seeds for Syngenta and former strategist, technologist and economist for John Deere. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Emerging technologies, such as blockchain and artificial intelligence are unlocking the capacity to efficiently trace, track and share ownership of physical assets at a granular level. Digitalization not only provides the ability to interconnect entire value chains from origin through to trading but can also give commodities utility as a form of payments. Could commodities become new currencies, powering circular economies that de-risk all participants? Could the future take us back to a barter economy where the value of one digital asset is exchanged for the value of another? Our guest in this episode is pioneering just this concept. Brent de Jong is the Chairman of Emergent Technology & Payments which has launched G-Coin©, a digital gold token that can be used to save, send, and spend Responsible Gold™ - an idea that conceptually could be applied to all physical commodities. Brent is also the Managing Partner of De Jong Capital, an investment firm focused on the commodities world. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Are we in a super-cycle or is it a chimera generated by the short-term impacts of COVID and trade wars? What’s the role of energy transition and redistributive policies around the world? How long will it last and how high will prices go? This episode is a recording of a panel discussion which host Paul Chapman moderated at the Reuters Events Commodity Trading 2021. The panelists represent the leading economists in the commodities world: Jeff Currie, Global Head of Commodities Research at Goldman Sachs; Saad Rahim, Chief Ecnomist at Trafigura; Derek Sammann, Global Head of Commodity and Options at CME Group and Alex Booth, Head of Research for Kpler. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

With COP26, voluntary carbon credits, Green Financing and shrinking opportunities in established markets, energy investors and producers are looking to emerging and frontier markets for future projects. Such projects presents great challenges, some new and some old. In this episode, our guest Francis Ugboma guides us through some of the additional complexity and hurdles to take on this growing sector. Francis has a long career in energy and emerging markets and is the author of the recently published book Developing Sustainable Energy Projects in Emerging Markets.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Demand for commodity financing is skyrocketing as prices, volumes and margin calls are on the rise. However, after a decade of low demand, low returns and pressure from a variety of sources, the supply of liquidity is far more constrained. Many banks, who had prominent roles in commodity finance in the 2000s have pulled back entirely while newer entrants often lack the deep product expertise to provide the services needed. Now volatility, high prices and supply chain challenges have left traders and merchants scrambling to finance their positions and capture the opportunities presented. How much of a risk does this present to the commodity trading world? What will happen to the availability and costof financing and how are companies responding? Will the response only add risk to the system? Guiding us through the tightening world of commodity finance and its ramifications is Lewis Hart, Managing Director at Brown Brothers Harriman where he leads the firm’s Commodities & Logistics and Corporate Banking businesses.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Record prices, extreme volatility, net-zero carbon demands, liquidity challenges and disrupted supply chains are the ‘new normal’ in commodities. Planning for 2022 and beyond in this environment is incredibly hard. In this episode, we go into the boardrooms of traders, producers and consumers to understand the challenges they face and the decisions to make to survive and thrive in this uncertain world. Our guest is McKinsey’s Partner Xavier Veillard, who leads the commodity trading practice. Xavier takes us on a guided tour on which topics (and why) are on the agenda and why this ‘new normal’ is likely here for the long term. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode, we explore the hidden, dark side of the energy transition. The West offshored to Asia the pollution stemming from the mining and processing of the key metals and products needed for the modem world, from electric cars to defense technology. In doing so has it also irrevocably ceded dominance to China in the future digital and energy economy? And in a world of rising prices, the EV revolution and increasing tension, will these metals become the new strategic resource and how far can and will China leverage its position. And what was the environmental cost to this dominance? Our guest is the journalist, author and documentary maker, Guillaume Pitron. Guillaume’s book, The Rare Metals War, has just been published in English and the product of decade of research into this hidden world. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Hydrogen is touted as a key component in energy transition, providing a carbon-free source of energy from transportation to heating our homes, while conveniently using existing oil & gas infrastructure and reserves. If so, why haven’t we built a hydrogen economy already? Is the hydrogen economy more hype than hope? What are its challenges from the immutable laws of thermodynamics, to technology, to safety and cost that have limited it to date? And as the commodity community begins to focus on its, what questions need to be asked. Our guest is Paul Martin, a chemical process engineer with a long association with hydrogen and its uses. Paul, a well-known thinker and writer on energy transition, walks us through the science and why hydrogen might continue to play a minimal, even negative, role in the energy transition story. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insider To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

The shipping market is treacherously cyclical. Adding the pandemic, digitization, trade wars and energy transition has made this lynchpin of the global energy markets one of most challenging segments to operate in and to plan for the future. What drives the tanker market? What are the short- and long-term impacts of the pandemic? What does digitization mean for the market structure and talent? And just what will energy transition mean for owners, operators and traders over the next decade. Our guest is Richard Matthews, Director of Consultancy & Research at E.A.Gibsons the shipbroker, who guides us through the volatile world of tankers. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

As we embark on the energy transition, oil trading will not only become more crucial but more lucrative. Reducing investment in supply and infrastructure, uncertain global demand and decarbonization policies, will all increase the need to manage the flows and the volatility that drives returns for traders. In this episode, our guest, veteran oil trader Kurt Chapman, gives us a sweeping look at the state of crude oil trading in the run up to the pandemic and how energy transition will likely impact its future and what it means for related talent.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Biogas both prevents methane from entering the atmosphere and provides a carbon neutral fuel, making it a power tool in the energy transition and the fight against global warming. Yet it currently makes up only a fraction of the energy mix. Could this be set to change as renewable fuel credits, carbon pricing and waste management legislation around the world, push biogas to the forefront? Could this be a huge untapped opportunity for the commodities world? And if so, how can energy companies and traders execute on it. Joining us to discuss is John Rose, Chief Commercial Officer for Asset Finance Partners. John has had a long career as an Energy and Ags trader and has focused on financing, developing and commercialising biogas projects in Europe and North America for the past four years.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Are we truly in a commodity super-cycle? Or has a global pandemic, supply disruption, inflation and wishful thinking around energy transition created a short-term price increase and much hype. In this episode, we take a more nuanced look at the super cycle hypothesis and seek to understand whether energy, metals and ags will all see a secular macro shift up in prices in the coming decade. Our guest thinks not. Ivo Sarjanovic is a former Cargill executive and former CEO of Alvean, one of the world’s largest sugar traders and now sits on the boards of a number of commodities participants. He is also adjunct professor teaching agricultural commodities at the University of Geneva and Di Tella University in Buenos Aires. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcgroup.global/hc-insiderTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Across the developed world, companies face the pressure to decarbonize by 2030. Right now buying long-term renewable power is the simplest option. However, in a decade will many wish they had built, or invested in, their own sources of renewable power? After all, what will the price of a PPA be in 2030 when everyone needs one. Guiding us through the rapidly changing landscape of corporations power supply chains is Toby Stanway. Toby is the founder of Invest Net Zero, a company focused on enabling businesses of all sizes to make a strategic investment in utility-scale renewable infrastructure as a cost-effective, robust and long-term solution to achieving decarbonization goals. Toby has 20 years in the energy industry and experience of mergers and acquisitions, investment analysis surrounding conventional and renewables infrastructure.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Is carbon the ultimate commodity and is it mispriced? For all participants in the commodities sector, how to engage in the carbon markets will shortly become a vital strategic question and an immense opportunity. In this episode, we dive into the current carbon markets around the world and their future. To guide us through, we are joined by Ariel Perez, a partner at Hartree Partners and one of the world’s foremost carbon market experts.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Earlier this month, host Paul Chapman moderated a Reuters webinar on the state of the crude and products freight market. After a very challenging 2020 for the sector, are things improving in 2021? What trends can we see in the short and long term? Discussing the current and future state of the tanker market are panelists: Richard Matthews, Director of Consultancy and Research at Gibsons, Peter Sand, Chief Shipping Analyst at BIMCO and Matthew Wright, Senior Freight Analyst at Kpler.The webinar was part of the Reuters Events Commodities trading series which concludes with a virtual conference on 9-10 November 2021. Find out more on the conference and how to register your attendance Here.To watch the recorded webinar click here.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Thank you for listening to the HC Insider Podcast. A quick update as we enter the summer season.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

With the launch of the Murban Crude Oil Futures, Abu Dhabi has signalled more than just a wish to price its own oil production. The futures herald Abu Dhabi’s desire to become the next global commodity hub, powered by its geographic centrality, proximity to Africa, legal code and infrastructure. Does the world need another hub? What about the crucial component of talent? Our guest is Mark Cutis, CEO of ADGM authority, the body tasked with providing the ecosystem and responsibility for leading Abu Dhabi’s growth as a leading financial and commodity powerhouse.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode we focus on the agri traders and agri trading. What differentiates agri trading from the other commodities? Is the recent return to form, after years of low returns, sustainable? Do the agri markets give us a window into the future for the other commodities, with its increased transparency, and consumer demands around sustainability and traceability? And if so, what lessons can be learned? Our guest is Jonathan Kingsman, well-known thinker and writer in the space. Listen as he guides us through the ups and downs of the agri trading world. You can find his blog at www.commodityconversations.comTo find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Investors, traders, ags, and energy businesses are investing in biofuels. Technology and decarbonization are driving the market. However, policy, crop yields, rising feedstock prices and public perception make it risky. Our guest Walter Cronin, Chief Commercial Officer at Green Plains, guides us through the global biofuels market and where we might go from here. Will renewable diesel overcome rising feedstock prices and the food for fuel debate? Are energy investors prepared for the uncertain world of crop yields? Has recent technological advances meant corn ethanol will be the dominant bridge fuel? What would changing policies in China and India do to the market? And what about that blend wall?To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Ammonia sits at the heart of the chemical industry and was the vital component in our first ‘green’ revolution, boosting global food production. Now, Ammonia could sit at the heart of the next ‘green’ revolution as a transporter for hydrogen atoms for fuel cells and as a carbon-free fuel in its own right. This is launching a surge in interest from the energy industry, just at a time when food and fertilizer prices are also rising. Is Ammonia a real contender in energy transition? What does this mean for the current and future of the Ammonia market? And who better to ask than a trader. Our guest is Christophe Savi, Managing Director of Ammonia at Trammo, the global commodity merchandiser engaged in the marketing, trading, distribution, and transportation of ammonia, among other commodities, for over 60 years. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Hydrocarbons have been a key driver of geopolitics and globalization over the past century. Even in the past decade, we have seen how US shale production and China’s energy security policies have dramatically changed the world. Now, peak demand and the energy transition is set to upend decades of global policy and economics – with a huge impact on the commodity markets. Will battery metals become the crucial natural resource? Will the electron revolution reverse globalization? We are delighted to have as our guest, Pulitzer Prize winning author and Vice Chairman of IHS Markit, Daniel Yergin. We discuss Daniel’s latest book – The New Map, Energy, Climate and the Clash of Nations and explore his take on the future of hydrocarbons and the impact of energy transition.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Blockchain has the power to revolutionize commodity trading by lowering transaction costs, boosting liquidity and, crucially, providing the mechanism to track, price and trust a range of ESG attributes, which consumers are demanding. But what is blockchain technology, tokenization, smart contracts etc? What about regulation, security and power consumption? In this episode we do a blockchain 101 and look into the commodity trading use-cases being developed by tech’s vanguards. Our guest is Clint Nelsen, a prolific blockchain entrepreneur and co-founder of Startup Weekend - the worlds largest grassroots ecosystem of tech entrepreneurs. Today, Clint is co-founder of Neo Holdings, (visit www.neo.co) a cross-industry coalition and group of companies focused on tokenizing commodities and their trading.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/To find out more about Neo visit www.neo.co For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

For commodities traders, trading around storage assets is nothing new. The same is becoming true in power. As the generation of power increasingly comes from renewables, batteries are seen as a key tool to manage the associated intermittent availability and short-term price volatility. These batteries provide a growing opportunity for power traders with the quantitative and technological capability to capture it. Will this be the dominant form of power trading in the energy transition world? Our guest, Aaron Lally, Managing Partner of clean tech trading business Vest Energy, provides his insight on the current and opportunity set, the participants and technology involved and the drivers behind it.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

We are in the foothills of a commodity super-cycle. Interest and investment is returning to the sector as the narrative of energy transition, inflation driven by policy, and scarcity in the wake of Covid-19, takes hold. What does this mean for traders over the next year and beyond? What are the trades? In honor of our 50th episode, we are delighted to welcome back our first ever guest John Massey, Head of the Houston Office for commodity trader ECTP. A year ago, John joined us to discuss the impact of Covid-19 on the commodity markets. He made some prescient calls including that Covid-19 would accelerate a re-balancing of the sector and lead to rising prices, rising opportunity, and rising interest. A year later, John discusses the super-cycle he foresaw and gives us his insight on the market opportunity and some predictions.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Electric utilities around the developed world face fundamental challenges to their business model as the way power is produced, transported, traded, and consumed is changing. Meanwhile, investors and policies demand rapid reductions in carbon emissions, rendering existing generation assets liabilities and promoting less consumption. Visibility to the customer is more crucial than ever to balance loads and service changing consumer habits. How can utilities meet these challenges and transform into more nimble, future ready organizations? Our guest Julia Hamm, CEO of the Smart Electric Power Alliance, gives us her insight into these challenges and how utilities in the US are responding. With disruption from all angles, will their actions be sufficient?To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Institutional investors and family offices want to invest in commodity hedge funds, as the narrative of the super-cycle and inflation drives both interest and return to form. Ryan Duncan of Bridge Alternatives provides his unique insider view of hedge funds’ performance in commodities over the past two decades and what themes and lessons can be identified for both the traders and investors. Will we see the fabulous returns (and volatility) of the last bull run? Or will structural changes that have affected performance over the past decade limit the future opportunity? What kind of investor can weather the volatility and risk inherent in the sector and what kind of trader?To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Lithium-ion batteries are the platform technology of electric revolution. The cells are standardized, produced under long-term supply contracts and demand is stratospheric. There is little free supply and delivery is in the future, with mega factories taking four years to build. The products themselves go into EVs and the power industry itself. Will batteries be the ultimate commodity of the future? Will trading houses have battery desks sat alongside their metals and power groups? Simon Moores, CEO and founder of Benchmark Minerals (www.benchmarkminerals.com) joins us for a deep dive on the battery industry. What is the supply chain? How does the market operate? What are the technology challenges with validating, shipping, storing, and marketing? And when will batteries be traded? Moores helps us to answer these questions.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

What will the commodity trading platform be like in 2030? In this episode, we examine ongoing change and trends in our sector and look at how these may play out over the next decade. We are in for some radical changes according to our guest who has spent significant time working on this subject. David Rae, BP’s former CIO Global Oil Trading and Head of Digital Innovation for Trading, guides us through a fascinating glimpse of the future including traders with heads-up displays out of a fighter plane and blockchain changing the nature of trading itself.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode, we do a deep dive into renewable diesel where the ag and energy worlds collide. Renewable diesel is currently being hailed as a key tool in the energy transition, tackling hard to abate fuels like aviation. Refiners are announcing big investments globally and both ag and energy traders are entering the feedstock space - where prices have risen dramatically. We start from the beginning on what renewable diesel is, the policies that underpin it globally, the technologies, and its supply chains. In this episode, we also look at the challenges from the food for fuel debate and whether feedstock supply can meet demand without undermining the policy goals that created it. Our guest is JW Hackett, a commercial development and policy expert in renewable fuels who has worked for the EPA and on the US Senate Committee for the Environment and Public Works and for the Renewable Energy Group.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode, Laurent Segalen, clean energy banker, trader, investor, and co-host of the Redefining Energy Podcast, joins us to discuss European power trading. Why is there a resurgence in power trading? Where are the opportunities now and, in the future, and who will be participating? We follow the story of power trading in Europe from the salad days of the 2000s driven by deregulation, through to the low price-doldrums of the 2010s, to the present day and beyond in the era of energy transition. What will generation, batteries, the grid and trading look like? What role will Hydrogen, digital platforms and blockchain play? Laurent guides us through it all.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.globalTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Commodity Trading Risk Management systems sit at the heart of any commodity trading enterprise. Their design and implementation has been a huge source of pride for some, frustration for others and cost for all in the sector over the past 20 years. However, the role of a CTRM is changing with the broader digitization of the commodity sector itself. Now, CTRMs are becoming the digital core of an organization and must increasingly be understood by traders themselves and able to connect with external systems. Should organizations build or buy CTRMs? Will blockchains and DLTs disrupt the existing CTRM world? These are some of the questions our guest, Richard Payne guides us through. Richard is a Managing Partner at capSpire, a management consultancy focused on the commodity sector. To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Globally, we have begun the transformation to the lithium-ion Economy. Mega battery factories are growing exponentially. The problem is lithium supply. Mining is constrained by available ores and multiyear start up times. Chemical processing and cathode production is technically challenging, environmentally impactful, and concentrated in China. EV manufacturers are buying all the Lithium supply they can on decade-long contracts. Lithium demand is forecast to outstrip supply by double in 2040 – even with the most optimistic forecasts. What does this mean for producers, commodity traders, financiers, governments and OEMs? How can the world tackle the problem of lithium. Simon Moores, CEO of Benchmark Minerals, the foremost independent pricing agency for Lithium walks us through the lithium supply chain and its consequences.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.global To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode we dig into rare earth metals - key elements for everyday technologies but also vital to the energy transition from electric motors to wind turbines. Beyond this, these elements have become of strategic national importance. We examine the supply chain and market structure, both historically with its booms and busts and whether the next cycle will be different and why. We also look at what the opportunities might be for commodity traders and investors. Our expert guest on this episode is Chris Goodman. Chris is on the board of Canada Rare Earth, a former executive of Talaxis, and has twenty years’ experience trading hard commodities.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.com To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

The atmosphere has too much carbon. This poses an existential threat to society and to the businesses emitting it, unless they start to capture it. Tackling carbon is one of the biggest challenges (and opportunities) in the commodities sector. Neo-classical economics suggest we put a price on carbon and let markets sort it all out. Unfortunately, the reality is so much more complicated – from geopolitics, to sources, measurement and verification. Jon Goldberg, founder and CEO of Carbon Direct and former hedge fund owner and Goldman commodity trader, guides us through this vital, urgent but complicated subject.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode, Javier Blas and Jack Farchy join us to talk about their new book, The World for Sale. The book spans the history of the rise of the independent commodity traders, their phenomenal success, and their impact on the modern world. Our guests walk us through the big themes in the book, the events and participants in the last commodity super cycle, and the challenges that lie ahead for these global actors in the next one.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Measuring risk is at the core commodity trading and Value At Risk is its most common expression. However, as frequent outsized and unexpected losses, stop outs and personnel departures attest, all our tools, especially VaR, are imperfect. How is risk measured and why do we get it wrong? What makes a good risk framework and what is the future of capturing market and other sources of risk in a digital world. Geir Robinson, former CRO of BP’s Integrated Supply & Trading business joins us to discuss.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

In this episode Jeff Currie, Global Head of Commodity Research at Goldman Sachs, walks us through the drivers and consequences of the coming commodity super-cycle. Over the next decade, redistributive policies, energy transition and the search for new sources of old and new economy commodities will drive a macro shift in prices across all verticals. What will this mean for the sector, commodity trading and its talent? Jeff gives us a concise and compelling argument and a call to action.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

The commodities sector is rich, of strategic national interest, at the center of geopolitics, and environmentally impactful. Thus, it is a focal target for cyber-attacks from criminals, national actors, hacktivists and others. As the sector digitizes, the threat and potential risks are only increasing. The threat posed and the responses required is a board level conversation for many companies - and our guest, Simon Hodgkinson, the former Group Chief Information Security Officer for BP, gives ample insight into why that should change.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Our guest, Arcady Sosinov, CEO and Founder of Freewire Technologies, believes Electric Vehicles present the biggest industrial change and opportunity in our lifetimes. With most major automobile manufacturers announcing phasing out combustion engines by 2035, we have passed the tipping point.This transformation will have profound consequences and disruption for the commodities sector from the impact on power grids, to infrastructure, to market participants and to supply chains. Will your car manufacturer or a utility be your next power provider? Arcady guides us through why EVs are taking over, the interplay of customer behaviors and infrastructure and how this could lead to the biggest disruption in the energy word since the industrial revolution. We explore.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Commodities trading has always been about having an informational edge. About having better data. With digitalization, data is now produced in exponentially larger quantities and so has our capacity to process it.With digitalization, data is now produced in exponentially larger quantities and so has our capacity to process it. Traders are spending millions on collating and analyzing it. Why are they doing this? Can it lead to a lasting competitive edge? Or should we be skeptical given the monumental costs and challenges in applicability and implementation. What does this mean for the role of a commodity trader?Alex Chandy, former energy trader and now CEO of 2DA, a data analytics software firm in commodities trading, gives us his insight.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Energy and commodity trading is complex (consider both its physical and financial nature), and so are the rules and regulations surrounding it. Multiple regulators, jurisdictions and standards can apply to a single trade and much is left to the judgement of the actors.But the downsides to getting it wrong just once are enormous for organisations and individuals. In this episode we address compliance in the commodities world with Frank Hayden. What it is, what it means and how digitisation is changing how organisations, and regulators, manage it. Frank is VP Compliance at Calpine, a member of CFTC’s Market Risk Advisory Committee and Chair of the Energy Compliance Discussion Group with over 60 compliance professionals as members.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

Every business faces ESG risks. Those risks are heightened in a sector defined by natural resource extraction and consumption, but so are the opportunities. The key to addressing these risks is having a good plan. A good plan can lead to more – cheaper financing, better valuations, differentiation, and talent attraction. Not having a plan can lead to exclusion from markets, departing employees, and legal exposure. In this episode, we talk to Milena Lopez, CEO of Keops Consulting, which provides advisory services around sustainability - projects, origination, and financing - in the commodities sector. Lopez explores what is driving and changing the landscape, what the risks are, and how you can create a plan.To find out more about HC and our talent advisory services in the energy & commodities sector visit www.hcinsider.comTo connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global