Major New Global Energy Transition Research Report Launched by Law Firm Ashurst

88% of business leaders confirm they have changed their investment strategy in the last year to align with the low-carbon energy transition Government pressure to decarbonise is the leading motive for businesses to invest in low-carbon technologies One third of respondents state that a lack of government support is the primary block for low-carbon investment globally The research explored attitudes towards and investment behaviours in renewable power generation and decarbonisation technologies...

LONDON, 13/05/2020 (informazione.news - comunicati stampa - energia)

The research explored attitudes towards and investment behaviours in renewable power generation and decarbonisation technologies in both the regions and countries in which the respondents are based, and in other jurisdictions in which they invest or plan to do so in the future.

It showed that North America , the Middle East , and South America are the current hotspot regions for investment in the energy transition. When adding current plus new investment plans over the next five years, these three hotspot regions are joined by North Africa and South East Asia .

According to Ashurst's research, the vast majority of respondents (87%) cited either significant or extreme pressure from government to act on climate change.

Paradoxically, around one third (31%) of respondents cited a lack of government support as one of the most significant barriers to low-carbon investment. Respondents from China and India indicated political support as a driving factor more so than any other countries across the G20 – 46% and 43% of respondents respectively. By contrast, only 19% of respondents from Indonesia and 18% of respondents from Turkey highlighted political support as a driving factor– lower than any others across the G20.

The research also identified the technologies with the highest present and future investment levels among the companies surveyed, as reflected by current and committed or anticipated future spend. Solar was identified as the renewable power technology with the highest levels of current and committed investment, followed by hydro and onshore wind. Conversely, technologies with lower levels of current investment but high levels of potential include biomass and offshore wind. In terms of non-power generation technologies, battery storage and electric vehicles receive the highest current and committed investment, but energy trading, carbon capture, utilisation and storage (CCUS), hydrogen and smart meters are regarded the areas with the highest potential in the next five years.

Antony Skinner , Ashurst's head of power & utilities for EMEA/US, said:

David Wadham , Ashurst's head of power & utilities for APAC, added:

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