Transition presents investment opportunities and material financial risks

The energy transition away from fossil fuels to renewables is well underway. Renewable energy capacity increased by a record 50% in 2023, led by solar photovoltaics (PV), and is forecast to grow by a further 45% in the following five years.¹ However, the future pace of decarbonisation across sectors is subject to demand, policy and technology uncertainties, which all pose significant risks, as well as creating opportunities, for investors.

¹ International Energy Agency, “Renewables 2023”, January 2024.

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