Carlos Covarrubias Paz – GC Powerlist
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Bolivia 2024

Energy and utilities

Carlos Covarrubias Paz

Senior counsel | Total Energies

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Bolivia 2024

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Carlos Covarrubias Paz

Senior counsel | Total Energies

Team size: 140 in Bolivia  

How do you manage legal aspects during periods of instability or crisis, and how do you align your legal strategy with the overall business strategy to ensure the organisation’s resilience? 

The hydrocarbons sector in Bolivia has undergone significant changes over the past 30 years, leading to profound structural transformations in the regulatory framework. As a lawyer for multinational energy companies for over 14 years, I have had to adapt to these transformations to provide sound legal advice and effectively navigate situations of instability and crisis. 

During challenging times, I believe the best approach to addressing instability and crisis is first to assess the risks and work directly with key internal strategic areas to provide effective legal opinions while staying aligned with the company’s overall objectives. Additionally, legal adaptation is crucial, requiring adjustments to contractual, regulatory, and internal policy changes while always upholding ethics and compliance across the organisation. Lastly, it is essential to continuously monitor legal and regulatory developments and create hypothetical scenarios to prepare for various potential situations. 

 

What measures has your company taken to incorporate sustainability practices into its core business operations, and how does the general counsel’s role contribute to driving and ensuring sustainable practices within the company? 

Total Energies has implemented several measures to incorporate sustainability into its operations, notably a plan to reduce emissions to below 38 Mt CO₂e (Scope 1+2) by 2025 compared to 2015 levels. This will be achieved through a global energy-saving programme worth one billion dollars for 2023-2024. However, the company’s most significant sustainability goal is its commitment to reducing carbon intensity by 25% by 2030 and achieving net-zero emissions by 2050. 

As a legal advisor, I play a crucial role in implementing sustainable practices within the company by ensuring compliance with environmental and social regulations, identifying legal risks related to sustainability, and providing appropriate advice and solutions. Additionally, I collaborate with other departments and internal teams to adopt sustainable practices that align with Total Energies’ objectives in these areas. 

 

What emerging technologies do you believe will have the most significant impact on the legal profession in the near future, and how do you stay updated on these developments? 

Emerging technologies are transforming the legal profession, with one key example being Artificial Intelligence (AI). From language models to complex legal documents, AI is an essential tool for various applications and a critical support resource for lawyers. Training and engaging with these changes are vital for any legal advisor looking to leverage its transformative potential. 

Another technological shift accelerated by the pandemic is the hybrid working model or “home office”, which is here to stay. Given that this mode of working is now common practice, it is important to implement the right technology and establish policies and processes to ensure that the legal team can work efficiently and effectively in this setting. 

To keep pace with these changes, it is essential to stay updated through continuous training and development. 

 

 

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