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It may have been a self-described “winding path” for Aisling Donnelly to end up working in the energy transition space, with stints in telecoms, finance, and even wine, but having gained experience in project financing for renewable energy in a role with Bank of Ireland, she made the move to PwC knowing that she had found her passion. “I’ve had lots of different roles, and I’ve found many skills to be transferable, but I want to develop and grow within the energy transition space,” she explains.
A main aspect of her role is to give funding and financing advice to investors and developers on a range of energy transition projects including supporting infrastructure, such as the port infrastructure required to build and maintain offshore wind farms. While it’s incredibly exciting and rewarding to be involved in projects of this scale with their potential impact, Aisling explains that “there’s no instant gratification, because from the start of a project, it could be more than ten years before they’re operational.”
“I could be looking at a financial model, or writing a business paper. I could be meeting with developers or other stakeholders and getting their feedback to inform my analysis. Or I could be meeting with lenders to get a sense of how much they would lend, and what terms and conditions are attached. There are a lot of conferences on, so you hear what’s going on in the industry. Every day is very different, which is brilliant.”
Another exciting aspect is the huge potential impact of the projects she works on. “I can’t wait to see a new offshore wind farm built in Ireland. I think it will be absolutely incredible, and bring so many opportunities to Ireland. The Irish government recently launched an Offshore Wind Skills Action Plan that identifies skills shortages required for the development of offshore wind, and looks at training requirements to bridge the gap. What’s also great is the job opportunities this industry will bring communities across the country, especially coastal communities.”
This field is becoming ever more topical as we all realise the importance of switching to renewable energy sources. Aisling also highlights the increasing weight environmental, social, and governance (ESG) issues are given within companies. “ESG is becoming much more important for investors. They want to invest in a company they perceive as doing the right thing, so reputationally for a company, it’s huge. And even from a simple cost perspective, companies who conserve energy and reduce waste will reduce costs, and positively impact their bottom line.”
If you find the amount of information on these topics overwhelming, Aisling recommends looking to a trusted source. “On PwC’s website, for example, we have an ESG-specific area, and we have thought leadership pieces on topical ESG subjects. You can also follow experts on LinkedIn, which is a good way to find interesting articles.”
We can’t all make such a direct impact on the environment as working on renewable energy projects, but Aisling points out that whether as an individual or a company, we can all make positive changes. For companies, she says it’s key that any goals become a part of the overall plan for the business. “It’s about understanding what it is that you want, and then embedding that in the overall strategy. ESG can’t be something that is completely separate from your strategy and your financial targets. What is also really important is that whatever goals you have in place, that they’re measured and managed. Critical to all of it is that you have employee engagement, and that you really take the time to explain what it is to employees, why it is important, if they need to be trained up on systems, or if there needs to be a change in the way that they do things.”
Overall though, her recommendation is the same whether you’re an individual or a company. “My advice would be, don’t let perfection get in the way of good enough, start with something, no matter how small, and build on that.”
PwC’s dedicated Environmental, Social, and Governance (ESG) team has extensive experience working alongside businesses to undertake tech-powered transformations that deliver sustainable outcomes and create real value. Make your climate actions count with PwC, visit pwc.ie/esg.
Photography: Kieran Harnett
