Researchers expose hidden hurdle delaying the future of energy: 'We are committed to understanding the opportunities and obstacles'

Yahoo

04-05-2025

A major survey of energy and natural resource company leaders indicated a universal, if self-reported, commitment to the clean energy transition but also identified some key barriers.
From November 2024 to January 2025, Willis Towers Watson — a multinational company offering insurance brokerage as well as services like risk, wealth, and benefits management — conducted the Global Clean Energy Survey with partner Coleman Parkes Research. WTW says they received 450 responses from senior decision-makers across the relevant sectors.
Perhaps the most promising finding was that 100% of respondents confirmed they had a clean energy strategy, but not all were at the same level of maturity. Leading the way, predictably, were renewable energy companies, with 71% "at the implementing or fully implemented stage." Only 36% of respondents from oil and gas firms were at these stages.
Meanwhile, on average, the surveyed firms are expected to increase their investments in clean energy by more than a third in the next year. Primary development priorities appear to include solar energy, increasing battery storage, and carbon capture. Investments in each of these areas have the potential to add future-oriented jobs to the economy while reducing harmful heat-trapping pollution.
Amid some positive signs, certain issues are causing concerns among industry leaders.
The current geopolitical situation was one of the main problems highlighted in the survey, with 78% naming it as a top risk. Ongoing conflicts, escalating tensions, and an active trade war between the world's two largest economies make long-term planning uncertain.
Relatedly, many respondents (79%) expressed serious worries about disruptions to the global supply chain.
Notably, Coleman Parkes and WTW, which specializes in insurance and risk management, reported that many companies are having trouble finding the right insurance.
A majority (53%) said that excessive exclusions were a stumbling block "to transferring their risks." Another issue was limited duration, with 48% expressing this as a concern and 47% citing a lack of suitable products. WTW said these responses suggest there could be a future opportunity for insurance firms.
On a separate note, it would be beneficial to a growing number of individual policyholders if insurance products and services could be adequately evolved to consistently protect homeowners vulnerable to climate disasters. Many have lost their coverage due to living in areas assessed to be at higher risk of extreme-weather damage.
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With the company describing the risk outlook as "more complex and interconnected than ever," Rupert Mackenzie, global head of natural resources at WTW, said in a statement:
"We are committed to understanding the opportunities and obstacles that natural resources companies encounter on their decarbonization journey, as we strive to empower these organizations with the insight and support they need to make informed risk decisions today that will shape a sustainable energy future."
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