Member News: Ashurst’s Powering Change Report Details the Latest Trends in the Global Energy Transition

The latest edition of Ashurt’s flagship report Powering Change: A New Era for the Energy Transition has now been launched.

For the past five years, the Powering Change reports have surveyed ~2,000 senior leaders involved in energy decision-making each year for their views on the energy transition. This research provides a comprehensive dataset, delivering unique insights into global energy market opportunities and the challenges facing organisations on their energy transition journey.

This year’s report reveals that while corporates are committed to the energy transition, they are becoming more selective about where they invest their capital. Key finding include:

• Organisations are taking a prudent approach to energy transition investment decisions –87% of respondents stated their energy transition investment strategy has changed in the last 12 months.
• Pressure to drive the energy transition forward is being led by corporate boards– 80% said in 2024 that the greatest pressure to cut emissions is coming from corporate boards and competitors.
• Solar power remains the leading renewable energy technology over the past five years– Solar power has increased from 52% to 59%. The next two most-popular technologies are energy from waste (38%, up from 30% five years ago) and biomass (37%, up 6% from 31%).
• P2X technologies are generating interest– 80% of respondents plan to increase investment in P2X technologies over the next five years.
• Sustained investment sentiment regarding renewables– 77% of senior business leaders in 2024 viewed renewable energy investment as essential to their strategic growth.

Specifically related to Africa and South Africa:

• 55% of respondents in South Africa said they are committed to a net-zero target.
• Renewable energy spend has increased 7% in South Africa in the last 5 years.
• Number one choice of Power-to-X technology in South Arica is Power-to-liquid.
• Without substantial investment in Power-to-X technologies or products in the next five years, it is unlikely that national net-zero targets will be met. From South Africa 81% said they agree.

View the full report here.