Over 60% of companies see growth potential in clean energy

Investments in this sector are expected to increase by 34% in the next financial year.

The majority of companies in several regions around the world, including Asia Pacific, view clean energy as a growth opportunity, indicating there is a commitment to achieve energy transition.

According to the latest Clean Energy Survey by Willis, 100% of natural resources companies surveyed have a clean energy strategy, with different levels of maturity. Over 70% of renewables companies are at the implementing or fully implemented stage, 36% for oil and gas, 63% for power, and 43% for mining and metals.

Investment in alternative energy technologies is projected to increase by 34% on average in the next financial year. Some of the top priorities for companies are solar, geothermal, and hydrogen energy, as well as battery storage solutions and carbon capture and storage.

When it comes to challenges, 79% said supply chain disruption and 78% said geopolitical issues are amongst the greatest risks to their clean energy strategy. This reflects “concerns over trade tensions and changes to subsidies and regulations at a time of increasing global volatility,” the poll said.

“Nevertheless, risk and insurance analytics, and bespoke risk financing solutions can play a pivotal role in mitigating these challenges, improving the bankability of the projects,” said Sam Liu, head of renewables for Asia at Willis.