In a year of sudden geopolitical shifts and associated market upheaval, energy sector executives and investors are adjusting their energy transition strategies to respond to the rising pressure to access sufficient – and ideally lower-carbon – energy in the short term, while moving to carbon-free renewable sources in the long term. Accordingly, many industry leaders are deepening their focus on decarbonization, “cleaner” technologies and fully renewable resources. However, some in the sector are also dipping back into legacy fuel sources amid more recent supply and demand imbalances.
These findings from the Womble Bond Dickinson (WBD) 2023 Energy Transition Outlook Survey extend our Global Energy and Natural Resources Team’s ongoing effort to provide insight into international progress toward a net-zero economy and the factors influencing the pace of the energy transition. This year’s results provide a fresh perspective as to how executives and investors in the sector are navigating the challenges and seizing the opportunities amid unprecedented and chaotic times.