May 15 (Renewables Now) - According to the International Energy Agency (IEA), at least a quarter of global electricity use is now powered by renewables, including solar, wind and hydro, with more countries seeking to change their wider energy mix.
Accelerating this energy transition is set to come with some serious capital requirements. The International Renewable Energy Agency (IRENA) forecasts that US 110 trillion must be invested in the energy system globally by 2050 to meet renewable energy targets.
This raises the question: how well-placed are market participants to navigate these shifts while delivering returns to their shareholders? It is clear the pressure is growing on companies to invest in climate-positive projects, and so it is crucial for them to understand the drivers behind the energy transition so they make the smartest investment decisions.
This week international law firm Ashurst launched the global energy transition research report "Powering Change: Energy in Transition". You can find it here.
Ashurst polled the views of more than 2,000 senior business leaders from across the G20. The respondents reported immense change: rapid and increasing shifts in their investment patterns, moving away from conventional energy generation towards renewable energy and decarbonisation technologies.