Global Clean Energy Survey Highlights Growth Opportunities and Challenges Ahead
Key Ideas
  • Investments in clean energy are expected to rise by 34% in the upcoming financial year, showing a positive outlook in the sector.
  • Top priorities for companies include solar, geothermal, hydrogen energy, battery storage, and carbon capture technologies.
  • Challenges like supply chain disruptions and geopolitical issues are identified, with risk mitigation strategies being crucial in ensuring project success.
  • Companies are actively embracing clean energy strategies, with natural resources companies showing 100% adoption, showcasing a commitment to energy transition.
The latest Clean Energy Survey by Willis revealed that investments in alternative energy technologies are set to increase by an average of 34% in the next financial year. Companies worldwide, particularly in regions like Asia Pacific, are recognizing clean energy as a significant growth opportunity. The survey highlighted that 100% of natural resources companies have a clean energy strategy in place, with varying levels of maturity across different sectors. Renewable energy companies are leading the way, with over 70% already implementing or having fully implemented their strategies. This proactive approach is also visible in other sectors, with 36% of oil and gas companies, 63% of power companies, and 43% of mining and metals companies having clean energy strategies. Among the key technologies drawing attention from companies are solar, geothermal, and hydrogen energy, along with a focus on battery storage solutions and carbon capture and storage. However, companies are not oblivious to the challenges present, with 79% identifying supply chain disruptions and 78% highlighting geopolitical issues as major risks to their clean energy strategies. Despite these challenges, industry experts like Sam Liu, the head of renewables for Asia at Willis, emphasize the role of risk and insurance analytics in mitigating these risks and enhancing project bankability. The survey underlines the importance of proactive risk management and bespoke risk financing solutions in navigating the evolving clean energy landscape. Overall, the survey showcases a positive sentiment towards clean energy adoption globally, with companies gearing up to overcome challenges and capitalize on the growth opportunities presented by the energy transition.
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