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Why Incorruptible Companies Matter

Antonio Febbraio Fernandez

French & Economics | University of Warwick

• Economics as a social science

• Interested in how business decisions affect people and society

• Wanted to understand how companies protect purpose as they grow

PURPOSE

↓

GROWTH

2 of 5

Rystad Energy: Can Energy Intelligence Stay Mission-Aligned?

WHAT THEY DO

Independent energy research, data and advisory services.

WHY I CHOSE RYSTAD

• Combines my interests in economics, energy and social impact

• Research can influence decisions beyond direct customers

• Tests whether wider impact is structurally protected

FOUNDER-CONTROLLED

PRIVATE

DUAL-CLASS OWNERSHIP

• Applied for an internship there and wanted to learn about and judge company’s incorruptibility

3 of 5

Rystad Through the Four Lenses

Lens

Rating

Key finding

Mission Drive

3/5

Mission-aligned products, but profitability isn't dependent on wider outcomes

Financial Gravity

3/5

Operating losses create pressure, but founder control provides some resistance

Governance

4/5

Private, dual-class, founder-controlled structure limits outside intervention

Mission Transmission

4/5

Research creates wider impact, but this isn't clearly systematic

OVERALL PATTERN

Strong founder protection + meaningful wider impact, but limited structural connection between mission and profitability.

Script: My scorecard produced a mixed but encouraging picture after analysing it through the 4 lens framework. I gave Mission Drive 3 out of 5 because Rystad's products support its stated mission, but the company can generate revenue from research, data and advisory services regardless of the wider outcomes of the decisions they influence. Financial Gravity was also 3 because operating losses and cost pressures create financial pressure, although founder control provides some resistance. Governance was stronger at 4 because its private, dual-class structure makes outside intervention difficult. Finally, I gave Mission Transmission a 4 because there is evidence that Rystad's research has impact beyond its direct customers, although I didn't find evidence that this is systematically amplified. So the overall pattern I saw was strong founder protection and meaningful wider impact, but a weaker structural connection between mission and profitability.

4 of 5

From Existing Impact to Mission Transmission

OPPORTUNITY

Rystad research already creates impact beyond its immediate customers.

PILOT A “MISSION IMPACT” PROCESS

1

IDENTIFY

Examples of research creating wider positive impact

→

2

SHARE

Record and communicate examples internally

→

3

RECOGNISE

Highlight the people and work behind them

WHY?

Turn individual examples of mission transmission into a repeatable organisational practice.

One team → Test → Learn → Adapt

IMPLEMENTATION:

Script: I chose Mission Transmission as my lens to analyse because I saw an opportunity to strengthen something Rystad is already doing well, rather than trying to fix a fundamental failure. For example, the Australian Competition and Consumer Commission (ACCC) used Rystad's gas-production cost analysis to provide greater transparency to the Australian energy market. This illustrates how Rystad's research can create value beyond its immediate customers. My proposal is therefore to pilot a simple Mission Impact process built around three steps shown on the slides identify, share and recognise. The idea is to identify examples of wider impact, share the findings internally, and recognise the people and work involved. This could help Rystad learn from its existing impact, identify insights that might inform future research, and strengthen employees' understanding of how their work contributes to the company's wider purpose. It would also create repeated Culture Bank deposits by demonstrating that wider mission impact is valued, while using Transmission Multipliers such as employees, existing team practices and important moments to make those examples more visible. I'd start with one team or research area, allowing the company to test the approach, learn from the results and adapt it without creating a significant administrative burden.

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References

Rystad Energy (2026).

About Rystad Energy - company description, services and mission.

https://www.rystadenergy.com/about-us

Rystad Energy (2026).

Jarand Rystad - founder and CEO.

https://www.rystadenergy.com/people/jarand-rystad

Australian Competition and Consumer Commission (ACCC) (2025).

Gas inquiry December 2025 interim report - Rystad report used to provide transparency on gas production costs/

https://www.accc.gov.au/about-us/publications/serial-publications/gas-inquiry-2017-30-reports/gas-inquiry-december-2025-interim-report

Australian Competition and Consumer Commission (ACCC) (2025).

East Coast Gas Market - Long-run Costs of Gas Production - Rystad analysis using the UCube database.

https://www.accc.gov.au/system/files/appendix-d-east-coast-gas-market-long-run-costs-gas-production-final-report.pdf