Natural resources industry committed to clean energy strategies despite growing investment in fossil fuels

Core Insights - The average spending on clean energy technologies in the natural resources industry is projected to increase by over a third in the next financial year [1] Group 1: Investment Trends - 100% of natural resources companies surveyed have a clean energy strategy, with varying levels of maturity; 71% of renewables companies are at the implementing or fully implemented stage, compared to 36% for oil and gas, 63% for power, and 43% for mining and metals [6] - Investment in clean energy technologies and infrastructure is expected to increase by 34% in 2025 [6] - 63% of respondents view clean energy as a growth opportunity, indicating a widespread commitment to the energy transition across all sectors, including oil and gas [6] Group 2: Technology Priorities - Solar is rated as a top priority by 51% of respondents in the near and medium term, while battery storage solutions and carbon capture and storage are prioritized by 61% in the medium to long term [6] - Geothermal and hydrogen have emerged as high priorities over a 10-year horizon [6] Group 3: Risk Factors - Supply chain disruption (79%) and geopolitical issues (78%) are identified as the greatest risks to clean energy strategies, reflecting concerns over trade tensions and regulatory changes [6] - Companies face challenges in obtaining suitable insurance, with 53% citing blanket exclusions as an obstacle, followed by limited duration/inflexibility of insurance (48%) and lack of suitable products (47%) [6] Group 4: Industry Challenges - The risk outlook for natural resources companies is described as complex and interconnected, as they navigate the clean energy transition while balancing regulatory, financial, and operational pressures [2][3] - Maintaining stable energy supplies and healthy revenue flows remains a commercial priority, but participation in the clean energy transition is deemed unavoidable [4]